Anda di halaman 1dari 8


THIS DEED OF TRUST executed on this th day of August 2013 BETWEEN Mr. Karumuttu Sundaram, son of Mr. Karumuttu Chokalingam, aged about 40 years, residing at 101, Anand Block, Chitra Apartments, Choolaimedu High Road, Choolaimedu, Chennai 600 094. (Party of the first part) hereinafter called SETTLOR OF THE TRUST"

(1) Ms.C.V.Poornima, daughter of Mr. Venkatesh Athreya aged about 33 years, residing at GA Annapoorna Apartments, 68, Rukmani Salai, Kalakshetra Colony, Besant Nagar, Chennai 600 090., hereinafter called the TRUSTEE,

(2) Mr.Hari Subramaniam son of Kasi Viswanathan Subramaniam, aged about 47 years, residing at 88, Kamdar Nagar, III street, Mahalingapuram, Chennai 600 034., hereinafter called the TRUSTEE,

(Hereinafter called " The Trustees" which expression shall unless repugnant to the context or meaning thereof be deemed to include the survivors or survivor of them and the trustees or

trustee for the time being of these presents and their heirs, executors and administrators of the last surviving trustee, their or his assignees) of the other part;

WHEREAS the party hereto of the first part is possessed of the sum of Rs. 1001/- (Rs. One Thousand Only) as his absolute property and he is desirous of creating a Charitable Trust that will be an independent non-profit public policy think tank to act as an interface between policy makers, business and civil society in pressing policy challenges in various fields.

AND WHEREAS each of the parties hereto of the "Other Part" has individually and jointly has agreed to act as Trustees of the Trust, proposed by the party of the first part.

AND WHEREAS nothing contained in this deed shall be deemed to authorize the trustees to do any act which may in any way be construed statutory modifications thereof and all activities of the trust shall be carried out with a view to benefit the public at large, without any profit motive and in accordance with the provisions of the Income-tax Act, 1961 or any statutory modification thereof.

AND WHEREAS the trust is hereby expressly declared to be a public charitable trust and all the provisions of this deed are to be constituted accordingly.



The party of the first part, the settlor, does hereby settle the sum of Rs.1001/- (Rupees One thousand and one only) in Trust, with the name and for the objects hereinafter stated, by delivering the said amount in cash which the parties of the other part, the Trustees, have accepted the receipt of which they do hereby acknowledge, to hold the same in and to the Trustees with the powers and obligations as provided hereinafter.

2. NAME The name of the Trust shall be "INDIAN INSTITUTE OF PUBLIC POLICY to be known in short as "IIPP.


The principal office of the Trust shall be situated at 101, Anand Block, Chitra Apartments, Choolaimedu High Road, Choolaimedu Chennai -600094 ., or such other place as the

Trustees may from time to time decide. The Trust may also carry on its work at any other place or places, as decided by the Trustees.


The main objective of the Institute shall be to carry-out the following, for the welfare of the public at large, for Charitable (not-for-profit) intention: (i) Indian Institute of Public Policy (IIPP) would be an independent non-profit public policy think tank based in Chennai and in New Delhiand in such places as may be decided, To act as an interface between policy makers, business and civil society in pressing policy challenges in the fields of Environment, Energy, Education, Trade, Industry, Economics, Finance, Agriculture, Foreign Policy, Centre- State Relations and Labour amongst others. (ii) To provide a platform for in-depth debate and foster strategic and academic communities bringing together policy makers, researchers, business and civil society (iii) The research work at the institute should serve the public at large and be of a high standard in terms of research ethics for both basic and applied research including for Government, and others. (iv) The usefulness and credibility of the Institute is derived from the high quality of its work and its ability to generate added value for the target groups. In order for the research to have a broad impact, it must meet all international quality criteria and the results must be communicated effectively to different target groups (v) To offer consulting practice services for government, private institutions and international institutions. (vi) To further its knowledge base by working with leading universities, research institutes / think tanks in India and in the EU predominantly and also in other countries (vii) To consist of an international multicultural team combining research and public policy expertise with management consulting skills (viii) IIPP seeks to contribute to a more vibrant think tank culture in Chennai in particular and India and in generalTamil Nadu (TN)
Formatted: Font: Times New Roman, 12 pt


The Trustees may accept Funding from Foundations and trusts, Partner institutions, Funding from Government, International Institutions, UN, EU Institutions, Embassies, private sector and

other similar organization as contribution and also as project fees, Publication sales and journal subscriptions, Event participation fees, Consultation fees, Education Seminar Participation fees. The Trustees shall not accept any receipt with any condition or terms inconsistent with the objects of the Trusts. While applying such receipts to the objects, the Trustees shall respect the directions, if any, by the granter. Any receipt with specific direction to treat the same as part of the corpus of the Trust or separate fund shall be funded accordingly.

The funds of the Institution would be utilized only towards the objects and no portion of it would be distributed in any manner to the trustee or person defined in section 13(1) (c) of the Income Tax Act, 1961.
Comment [BRK1]: This may be removed



All monies, which shall not immediately required for current needs shall be invested by the Trustees in eligible securities and investments, or in banks. Such investments shall be in the name of Trust only.

ii. That the trustees shall manage the trust fund and investments thereof as a prudent man would do the same. They shall recover all outstanding and meet all recurring and other expenses incurred in the upkeep or management thereof. iii. That the trustees shall receive and hold the income of the trust on behalf and for the benefit of the trust.


The number of trustees shall not be less than three and not more than seven. The trustees named in these presents shall be the first trustees.

The settlor of the trust, Mr. Karumuttu Sundaram shall be the Managing Trustee who shall hold such office for his life time or until he resigns from the office the Managing Trustee by notice in writing to the other trustee or trustees.

The other two trustees mentioned in this deed shall hold office for a period of one year from the formation of the trust and shall be reappointed if they are thus eligible at the annual general meeting of the trust.

One third of the other trustees are liable to retire by rotation and are eligible for reappointment each two year.

In case of death or resignation of the first Managing Trustee, the other first trustee shall be the Managing Trustee and also after his life time the Board of Trustees shall elect such a person to be the Managing Trustee, unless the majority of the trustees decide otherwise.

A Managing Trustee may temporarily vacate office if he is unable or considers it not expedient for any reason to hold such office, but shall be entitled to resume such office at any time thereafter in his absolute discretion and right.

The Institute shall also consist of a Board of Directors and a Board of Advisors as decided by the Board of trustees. The Board of Directors shall assist in the day to day management of the Trust whereas the Board of Advisors will provide intellectual and strategic guidance from time to time and shall provide advisory services with respect to specific areas as communicated to them and shall be a non-mandatory, non-statutory body.


i. The trustee/trustees as the case may be shall fill up the vacancy in the office of any trustee and shall do so to have the minimum of three Trustees. The co-option may always be made by consensus when continuing trustees are more than three. The total number shall not exceed seven at any time. Co-option may be for life or for limited period.

ii. Any Trustee may be removed from his office if it is necessary in the interest of the trust. Where, the other entire trustees decide by consensus accordingly after giving an opportunity to that particular Trustee. The succeeding Trustee will be elected as among the remaining trustees by majority. The trustees will be collectively known as Board of Trustees.


That the trustees shall have the following powers: i. To manage all the assets and/or properties of the trust including the conduct of business; ii. To appoint employees and to settle the terms of their service, remuneration and termination; iii. To look into the management of the trust; iv. To invest the funds of the trust, in bank or in the purchase of company shares or securities or other movable and movable and immovable properties; v. To sell, alter, vary, transpose or otherwise dispose or alienate the trust properties or any investment representing the same for consideration and to reinvest the same after obtaining the approval of Income Tax Authorities and other such authority where ever necessary and mandatory; vi. To pledge or mortgage the trust properties for raising loans;

vii. To open the bank accounts in the name and on behalf of the trust and to operate the same; viii. To pay all charges, impositions and other outgoings payable in respect of the trust properties and also to pay all cost of the incidental to the administration and management of the trust properties; ix. To file suit on behalf of the trust and to refer to arbitration all actions proceedings and disputes touching the trust properties and to compromise and compound the suits filed; x. To seek legal opinion of lawyers and/or Chartered Accountants as and when required;

If any of the forgoing powers / clauses or any incidental powers / clauses thereto is inconsistent with the objects of the public charitable institution with particular reference to the requirement of a Public Charitable Trust under Trust Laws or under The Income Tax Act 1961, such power / clause will not be treated as available to the Board of Trustees.

10. The number of the trustees shall not be less than three but not more than seven including the Managing Trustee.

11. In case of any difference between the trustees, the opinion of the Managing Trustee shall prevail. 12. Any of the trustees may retire on giving one months notice in writing to the other trustee(s).

13. If any trustee dies or retires or becomes incapable or unfit to act, the Board of Trustees shall appoint a successor in the place of such trustee.

14. If at any time the number of the trustees is less than two, the Board of Trustees shall appoint one or more trustees.

15. Upon the appointment of a new trustee the trust properties shall vest in the new trustee jointly with the Board of Trustees with the duties and power of the trustees set out hereinabove in this deed.


All income, subscription and pecuniary donations for the general purposes of the Trust and the income, investments and all other moneys from time to time forming part of the general revenue of the Trust shall on the same being received be paid into a banking account with any scheduled bank for the purpose of the Trust. The bank accounts shall be operated by the Managing Trustee along with any one of the remaining Trustees.


The Trust shall keep proper books of account of all the assets, liabilities and income and expenditure of the Trust and shall prepare an Income and Expenditure Account and Balance Sheet for every year as on the last day of March. i. The accounts of every year shall be audited by a Chartered Accountant or a firm of Chartered Accountants who shall be appointed for that purpose by the Trustees and the audited accounts shall be placed at a meeting of the Trustees, which shall be held before the end of the succeeding year. ii. The financial year would be from 1st April to 31st March each year and the first year would commence from the date of execution of this deed to 31st of March 2014.

18. This Trust is irrevocable and the activities of the trust would be confined to the territory of India only and for the benefit of India .and Indians living in India.


The trustees may amalgamate the trust with another Charitable Trust or Institution having similar objects with prior permission of the Charity Commissioner/Court/any other law as may be applicable for the time being.


In the event of dissolution or winding up of the Trust the assets remaining as on the date of dissolution shall under no circumstances be distributed amongst the Trustees but the same shall be transferred to some other similar Trust/Organization whose objects are similar to those of this Trust with the permission of the Income Tax Authority / Court / any other law as may be applicable for the time being.

The Trustees shall be indemnified against all losses and liabilities incurred by them in the execution of the Trust and shall have a lien over the funds and properties of the Trust for such indemnity.

IN WITNESS WHEREOF, The Parties hereunto have signed and delivered the presents on the day and year first hereinabove written.




__________ TRUSTEE


_________ TRUSTEE