Board Responsibilities

The Board of Trustees of ” SPREAD LOVE HAPPINESS AND PEACE FOUNDATION ( Regd.) ” shall have the following powers :

(A) To manage the properties, assets and funds of the Trust, from time to time, such regulations (not being inconsistent with this deed) as they may think fit for and necessary for the purposes of such management and control or in connection with the execution of any of the subject herein contained or powers hereby vested in them and may rescind or alter any such regulation.

(B) To accept donations, contributions, grants, subscription in cash or in kind from any person, company, firm, association, organizations, government, non-government or semi government agencies, national or foreign funding agencies, family Trust, or corporate bodies for furtherance and achievement of the objectives of the Trust.

(C) To appoint a managing Trustee, when necessary.

To review the affairs of the Trust and a necessary.

(D) To appoint officers and members of staff for the Trust and to prescribe their condition of service.

(E) To open and to provide for operating banking accounts.

(F) To raise loans with or without security or to invite donation and financial help.

(G) To receive the honorarium or salary for his/her services or involvement in any of the project or program run by the Trust, which must be decided by the Board of Trustees and approved by the Chairman / Chairperson.

(H) To authorize a person (s) to sign or execute documents on behalf of the Trust.

(I) To grant receipts for aid or donation received.

(J) To grant Special Power of Attorney to represent the Trustees in connection with any legal or other proceedings.

(K) To quire land or building on the lease or way of purchase.

(L) To compromise, compound or refer to Arbitration all actions, proceedings, and disputes relating to Trust property or properties.

(M) To sell or give on rent/lease or on hire any immovable or movable property of the Trust for some certain period (s) on such terms and conditions as the Trustees may think fit and proper from time to time.

(N) To open any type of bank account (s) whether saving account, current account, fixed or otherwise, in the name of the Trust or institution (s) or programme (s) run by the Trust with any scheduled banks (s) or post office (s) and to operate by the authorized signatory or signatories as Board of Trustees shall think fit and proper to authorize any person or persons, unless and until determined otherwise such bank account(s) shall be opened and operated jointly with signatures of any two members of Board of Trustees. The financial year for the Trust shall be from 1st April to 31st March and the accounts of Trust or institution (s) or programme (s) run by the Trust shall be audited yearly by the auditors b(s) or charted accountant or a firm of charted accountants to be appointed by the Board of Trustees and the fee for auditor(s), if paid, shall be a part of outgoing amounts from the Trust Funds.

(O) To give a guarantee of the assets and property of the Trust, including the bank guarantee on behalf of the Trust to carport bodies, persons, firms, institutions, as Trustees may decide from time to time. The Trustees shall not be personally liable for such guarantees or the securities.

(P) To gift, lease, and transfer the immovable and movable properties of the Trust.

(Q) To appoint lawyer, pleaders, advocated to file and defend suit or suits filed for and against the Trust and or in the name of the Trust and also file suits for financial and other disputes or dues with different parties and signed executed such application, petition documents for such proceedings and delegate powers to the officers(s), employee(s), staff(s) and Trustee(s) for such proceedings(s) as required from time to time.

(R) To appoint new member or members of Board of Trustees by a resolution and to discharge any of the Trustee, who become bankrupt or acts in any manner prejudicial to the interest or objects of the Trust or is convicted of an offence involving moral turpitude or becomes of unsound mind or is otherwise unfit to continue as Trustee, by resolution passed by simple majority of members present and voting in the meeting of Board of Trustees.

(S) To appoint from time to time on such terms and conditions as they may determine a Secretary, Manager, Executive Director, Director(s) and another officer(s) or members(s) of staff for carrying out the activities of the Trust and to remove at any time any such Secretary, Manager, Executive Director, Director(s) and other officer(s) or members(s) of staff.

After defraying all necessary expenses incurred in the collection or realization of the income from the Trust ten percent (10%) of the balance of the income shall be kept in a reserve fund to be utilized when, in the opinion of the Board of Trustees, there is any emergency and the remaining income may be utilized for the purpose of the Trust.

The Trustees shall invest the Trust fund in government securities, saving certificates, fixed deposits or in any other form of investment authorized under provisions of INDIAN TRUST ACT and INDIAN INCOME TAX ACT, 1961, as they shall deem expedient.

It has further been decided that as and when the Trust is enclosed or dissolved all the funds of the Trust shall be transferred to the other recognized Public Charitable Trust having similar objectives.

All questions relating to the management of the Trust or the exercise of the powers vested in the Trust shall be decided at a meeting or, if necessary and expedient, by circulation. Every such question shall be decided by a majority of the Trustees present and voting at any meeting of Board of Trustees or by the circulation, as the case may be and any action or decision of such majority shall be as valid as if it was done or made by all Trustees. The Chairman / Chairperson shall have a casting vote.

In case of occurrence of any vacancy amongst the Trustees because of death, resignation or incapacity of any Trustee or any other cause, a new Trustee may be appointed to fill the Vacancy.

All matters not provided for in this Trust deed but necessary for the administration of the Trust or for giving effect to the objectives of the Trust may by resolution(s) made by the Board of Trustees carried by a special majority of two third of the total number of the Trustees.

SETTLER:
Hardeep Singh Batra