ERDA is regulated by its own dynamic constitution...
Amended Trust Deed
Education Research and Development Association (ERDA)
(Amended on 30th June 2020, applicable with effect from 1st July 2020)
Name of the Trust:
Trust is hereby constituted as an irrevocable Trust and it shall be particularly known as “Education, Research & Development Association (ERDA)” Registered under the Indian Trust Act 1882. In short form Trust shall be known as ERDA.
Nature of the Trust:
The above Trust is a Not for Profit Making, Public and Charitable Trust
Office of the Trust:
Currently office of the trust is located at Rajiv Nagar, Patna, Bihar, India. However the head office and/or branch office or offices may be shifted or opened at any other places as the Governing Body may decide upon from time to time
Objectives of the Trust:
- To Promote and/or Provide Quality Education / Training / Research & Development / Consultancy / Employment Creation in the following disciplines:- Science and Technology, Commerce and Management, Legal Science, Medical Science, Social Science, Spiritual Science, Arts, Culture and Sports, Media and Journalism, Language and Literature, Environment and Natural Resource Management, Agriculture, Horticulture, Aquaculture, Sericulture, Afforestation, Animal Husbandry, Food Processing, Dairy etc, Skill and Personality Development, and Any other relevant area of learning.
- To provide assistance in getting the following facilities to the needy people without influencing by any Region, Religion, Cast and Status:- Education, Employment, Health, Food and other Essential Consumable Products, Security (protection to the victims of any natural calamities/accidents/violence etc), Accommodation and Constitutional Justice.
- To establish, construct, maintain and run various units of said Trust for proper functioning.-To raise voice against any type of corruption / injustice / inequality
- To Organize Seminars / Symposia / Debates / Conferences / Workshops / Lectures / Meetings / Test Series / Mock Examination / Training Programme / Medical Camp / Exhibitions / Road Shows / Movement / Display of Hording, Banner, Pamphlets etc / Career Fairs / Book Fairs / Counselling Sessions / Quiz Competition / Essay Competition and any other same kind of thing
- To establish, construct, maintain and run the Educational Institutes / Training Institutes / Coaching Institutes / Schools / Colleges / Universities / Lecture Halls / Hostels / TV Channels / Research Centres / Medical Colleges / Hospitals / Nursing Training Institute / Clinics / Health Centres / Pathology Labs / Play Grounds / Fitness Centres / Community Hall / Nursery / Farm House / Residential Accommodation / Commercial Complex / Selling Booth / Consultancy Office / Library / Old Age Home / Mahila Aashram / Orphan House / Prayer Hall / Warehouse and any other centres or institutions or other kind of things for the fulfilment of the goal of the Trust
- To provide all the possible support to the financially challenged but talented students in the preparation of Professional / Competitive exams like Engineering, Medical, Management, CA, CMA, CS, Civil Services, State Public Service, Bank, Railway, SSC etc.
- To establish, maintain and run Talent Search Exam / Olympiad / Fellowship / Scholarship / Award / Prizes etc for the development of knowledge and skill of students
- To establish, maintain and run the award for academicians, working people, individuals, organizations and institutions for their excellent contribution in the different filed
- To collaborate, partnership, joint venture with any National and International University / Institution / Organization / Individuals / NGO etc
- To offer certificate, diploma and degree courses either on its own behalf (undertaking institutes) or on the behalf of collaborated or affiliated university / institute
- To Prepare and publish, either on its own or through or in collaboration with other persons and entities, papers, periodicals, magazines, books, journals, study materials, and other same kind of things.
- To take strong initiative for the Empowerment of women
- To co-ordinate with government / commission / institutions / universities and other relevant organisation or individuals for fulfilment of objectives of the Trust
- To associate with large number of individuals, corporations and any other organizations for the fulfilment of goal of this trust, through membership
- To undertake the government projects or projects of any other organizations
- To run either on its own behalf or in collaboration with other, Social Enterprises- to satisfy the need of poor and low income people, to generate surplus fund in order to minimize the donor dependency, to creating job opportunities, to make available quality goods and services to the people of India, to work on non-surplus basis in some cases, to sell the product and services at affordable cost, and to follow the fair trade practices
- To accept donations (in cash or kind), subscriptions, grants, presents, gifts, and to collect rents, interests and other incomes of the TRUST FUND, etc. for application towards furtherance of the objectives of the trust
- To pay all cost, charges and expenses incidental to the management, administration and execution of the activities of the trust, and to exercise authority/powers herein contained
- To purchase or hire or to take on lease land, building and other immovable or movable properties in the name of the trust for various activities of the trust
- To raise or borrow money required for the purpose of the trust on a mortgage or pledge or hypothecation of the trust estate or any part thereof with or without any security and at such rates of interest and on such terms and conditions as the trustee deems fit
- To invest, dispose of, transfer and otherwise deal the subject matter of the trust in such manner as the trustee deem fit and proper to do in carrying out the objects of the trust
- To make rules and regulations for the smooth conduct of the trust and do all such act and things as may be necessary or incidental for carrying out the objects of the trust
- To assist/donate, finance support, establish and maintain any trust, society or institution meant for the advancement of education, health and any other object of general public utility, out of the income and/or corpus of the trust
- To do any other lawful activities which will be useful for the betterment of the society
RULES AND REGULATIONS OF EDUCATION RESEARCH AND DEVELOPEMNT ASSOCIATION (ERDA)
- Trust means Education, Research and Development Association (ERDA)
- Chairman means Chairman of ERDA
- Vice-Chairman means Vice-Chairman of ERDA
- President means President of ERDA
- Vice-President means Vice-President of ERDA
- Secretary means Secretary of ERDA
- Joint Secretary means Joint Secretary of ERDA
- Treasurer means Treasurer of ERDA
- Joint Treasurer means Joint Treasurer of ERDA
- Managing Trustee means Managing Trustee of ERDA
- Founder Trustees mean trustees whose names are registered on government record
- Founder Members mean Founder trustees of ERDA
- Trustees mean elected members of the Governing Body
- Honorary Director means Honorary Director of any centre or unit of ERDA
- Honorary Assistant Director means Honorary Assistant Director of any centre or unit of ERDA
- Executive Director means Executive Director of any centre or unit of ERDA
- Members means Members of ERDA
- Executive Members means elected members of the Governing Body
- Governing Body means the Governing Body of ERDA
- Office Bearers means the executive functionaries of the Trust, i.e. President, Vice President, General Secretary, Joint Secretaries, Treasurer and Joint Treasures elected by the General Body
- General Body means the General Body consisting of all the members of ERDA
- Board means Governing Body of ERDA
- Units of ERDA means various academic, research and social development centre or units of ERDA
- Social Enterprises means various social business entities established by ERDA for raising fund for Trust as well as to fulfill the some of the objectives of the Trust.
Area of Operations:
ERDA shall operate in whole of India and if needed it can extend its activities to other countries subject to applicable laws.
The financial year of the Trust shall be From 1ST April of Current Year to 31ST March of Next Year.
Any individual or institution who may be interested in the aims and objectives of the trust can be considered by the Governing Body to become a member of ERDA or Any Unit of it
Category of Membership:
Following types of membership shall be offered by the Trust:
- Annual Member
- Lifetime Member
- Associate Member
- Fellow Member
- Honorary Member
- Students Member
Explanation of Membership:
- Any individual or institution may take the annual or lifetime membership.
- Any Corporate or Business Entity, Government and Semi Government Organization, Academic, Research or Training Institute or Charitable Trust or Society and any other organization shall be considered as institution.
- Only Lifetime, Associate and Fellow Members shall be eligible for casting vote in any meeting of the Trust; however an annual member shall be eligible for casting vote in any meeting if he/she/it is an annual member for consecutive five years and also actively involved in various activities of the Trust. In case of institutional members, their representative shall cast vote in any meeting.
- Only lifetime, associate and fellow members shall be eligible for nomination in election of various posts of office bearers and executive members. In case of Institutional members their representative shall be eligible for nomination.
- Managing trustee and all the founder trustees shall be the lifetime members of the Trust. However, any trustee is free to leave.
- Only an individual shall be eligible to be an Associate and Fellow Member of ERDA. An Individual who possessed Associate Membership can apply for the Fellow Membership after five years from the date of obtaining the Associate membership Status of Fellow member shall be for the lifetime.
- There shall be the following criteria for becoming an Associate Member of ERDA: An individual is pursuing doctorate or immediately completed doctorate in any subject, minimum three years teaching experience, minimum six research papers published in reputed journals, Minimum two papers presented in national seminars or conferences, and minimum one paper presented in international seminar or conference
If an individual does not fulfil the above criteria, but having minimum six years of teaching experience shall be eligible to be an Associate Member of ERDA
If an individual possess professional qualification like Chartered Accountant (CA), Cost and Management Accountant (CMA), Company Secretary (CS), Doctor, Engineer, Advocate etc. and having three years working experience in the field of specific profession.
- An Individual shall have to satisfy the following eligibility criteria to be a Fellow Member of ERDA: An individual has doctorate degree in any subject, minimum ten years teaching experience, minimum twenty research papers published in reputed journals, minimum six papers presented in national seminars or conferences, minimum two papers presented in international seminars or conferences, and minimum one book edited or authored by the individual
If an individual does not fulfil the above criteria, but having rich teaching experience of minimum 15 years shall be eligible to be a Fellow Member of ERDA
If an individual possess professional qualification like Chartered Accountant (CA), Cost and Management Accountant (CMA), Company Secretary (CS), Doctor, Engineer, Advocate etc. and having ten years working experience.
- Honorary Member shall be a distinguished person whom the Governing Body may decide to invite on approval of the General Body to become an honorary member and confer upon him the honorary membership. Such honorary member shall be on the register of members and may attend all the conferences, seminars etc. but shall abstain from the process of any election of ERDA and their role shall be only advisory.
- Student from 12th standard to post graduate level shall be eligible to be the student member of ERDA
- Decision of acceptance or rejection of any membership application form shall be solely vested in the hands of the Governing Body.
- Eligibility criteria for membership shall be determined by the Governing Body from time to time
Any member can contribute (cash or kind) voluntarily as per his/her desire for the smooth functioning of the ERDA; however the Governing Body can determine the membership fee when it thinks reasonable to do so and also the membership fees can be revised by the Governing Body from time to time.
Disqualification from Membership:
- A member (including managing and founder trustees) shall be disqualified to continue as a member of the ERDA on the following grounds and reasons: on his/her death or on his /her resignation from the membership of ERDA or he / she becomes mentally derelict
- The Governing Body recommend to the General Body to suspend or remove a person’s name from the register of members on grounds of some behavioural infraction or an act tantamount to be hindrance to the functioning and opposed to the objectives of the trust. Provided that a proper enquiry has been made and report submitted thereon and that the reasonable opportunities was given to the defaulting member to defend himself / herself before the inquiry and also present his / her case when it is being voted in the general body.
- Cessation of membership for any reason shall not entail any member for the refund of any contribution or donations or gifts etc made to the trust.
Authorities of the Trust:
Following shall be the authorities of the Trust-
- The General Body
- The Governing Body
- The General Body shall consist of all the members
- It shall be the supreme authority of the trust, responsible for decisions on the policy matters.
- It will sanction the annual budget prepared by the Governing Body for the next year
- It will adopt the annual reports and the audited statement of accounts
- It will make appointment of the auditors
- It will elect office bearers and members of the Governing Body
- It may take any other action which shall be good in the best interest of the society
Governing body shall constitute as follows:
- Vice President (three)
- General Secretary
- Joint Secretary (three)
- Joint Treasurer (three)
- Executive Members (twenty eight)
- Managing Trustee
- One of the founder trustees
– Managing Trustee and One of the founder trustees (nominated by the managing trustee) shall be the special invitee on the Governing Board for lifetime without possessing any voting right.
– All the elected members of the Governing Body shall be the trustees of ERDA.
– Tenure of all the elected members of the Governing Body shall be for three years from the date of their appointment. However, in case of difficulties in execution of duties as a board member, any member can leave before completion of his/her term. Separation of any member from the Governing Body shall not terminate his/her membership of ERDA.
– All the members of the Governing Body shall not be elected for more than two terms for the same post during his/her life. President shall not be eligible to be elected for any post after completing his/her two terms. He / She shall be honoured as a member of the Advisory Board of ERDA.
– Eligibility for nomination in election of governing body shall be decided by the Governing Body and/or General Body from time to time.
– First time members of the Governing Body shall be selected by the founder trustees and thereafter they shall be elected by the General Body.
– Governing Body shall be the main authority to run all the activities (except social enterprises) of the ERDA. Governing Body shall be also the decision making authority of ERDA. Any decision shall be taken by the governing body through majority of the votes. In case of tie of votes, chairman of the meeting (generally President, in the absence of President, any of the Vice Presidents according to their seniority) shall cast his vote.
– In case of members of the Trust (other than founder members / trustees) are not willing to act as the part of the Governing Body, founder trustees shall run the activities of the Trust as the Governing Body.
Powers and Duties of the Governing Body:
- To accept any donation, contribution grant or subscription in cash or in kind from any person, body or body of persons or trust with or without conditions in name of trust or in the name of any unit run by the trust.
- To apply the whole or part of the income of the Trust Fund or accumulation thereof of whole or part of the Trust Fund to any one or more of the objects of the Trust as the Trustees in their discretion from time to time determine.
- To convert and deal with the Trust property and/or to carry the investments for the time being.
- To purchase, construct or hire or taken on lease any immovable property for all or any of the purpose of the said trust at such price, cost or rent and one such terms and conditions and for such period and with or without option for renewal as the trustees may think fit.
- To invest and keep invested the trust fund to vary or other the investment as the trustees in their discretion think fit.
- To borrow or to raise or secure payments of money and also to lend money either with or without security.
- To sell, dispose off, alienate or otherwise deal with any property comprising the Trust Fund.
- To get reimbursement of any expense incurred by any member or on his behalf for execution of work of the trust
- To let out, lease devise, mortgage, change or license any property belonging to the trust for such rent or compensation and on such terms and conditions and for such period as the trustees in their discretion may think fit.
- To adjust, settle, compromise, compound, refer to arbitration, all actions, suits, claims, demands and proceedings regarding the Trust Fund.
- To delegate by power of attorney or otherwise by way of resolution, to any trustee and trustees or any person or persons, powers and authorities implied by law or conferred by statute or vested by these present. The trustees shall however not be held liable or responsible for the acts or defaults for the acts or defaults for any such person or persons but only for their own respective acts and defaults.
- To make, vary, alter or modify schemes, rules and regulations for carrying out the objects of the Trust and for management of the affairs thereof and/or running any institution in furtherance of the objects of the Trust and otherwise for giving effect to the object of the Trust.
- To assimilate the income out of the annual income of the Trust from time to time and such assimilation of income shall be made as per the provisions of the Income -Tax laws in vogue
- To utilize not only the income but also the Corpus or any part of the corpus of the Trust for any of the objects.
- To appoint employees, consultants and others as and when required for the proper functioning of activities of the Trust and its allied units
- To settle all accounts and to compromise, compound, abandon, or refer to arbitration any action or proceedings or dispute, claim demand or things proper for such purpose without being responsible for any loss occasioned thereby.
- To apply to the Government, public bodies, urban, local, municipal, district and other bodies, corporation, companies, or persons for and to accept grant of money and of aid, donation, gift, subscriptions, and other assistance with a view to promoting the objects of the Trust and to discuss and negotiate with the Government Departments, public and other bodies corporations, companies or persons, scheme and other work and matters within the objects of the Trust and to confirm to any proper condition upon which such grants and other payments may be made.
- To establish, promote, manage, organize or maintain or to assist in establishing, promoting, managing, organizing or maintaining any branch of the Trust or any other Trust or its branches with objects similar to those of this Trust and to promote or carry on the affiliation or amalgamation of such other Trust with this Trust.
- To take over, acquire, manage, control or aid any existing institution or institutions having objects either wholly or in part similar to the objects of this Trust and on such terms and conditions as may be thought expedient.
- The Trustees shall be chargeable only for such moneys, stocks, shares and funds as shall actually come into their hands and a Trustee shall not be answerable or accountable for neglect, default, acts or omission or commission of the other Trustees, nor of any banker or other person with whom the Trust properties or any securities may have been deposited or kept. Trustees may reimburse themselves all expenses actually incurred by them in connection with the Trust or their duties relating thereto.
- Any other matter relevant to the affairs of the trust
Power and Duties of the members of the Governing Body:
President shall be the head of the Governing Body of the ERDA and shall preside over all the meetings of the Governing Body and General Body. He / She shall guide the ERDA in all its activities. He / She shall have overall powers of supervision over the working of the Association and its efficient administration. Particularly his / her role shall be
- To implement the objectives of the Association
- To deal with all disciplinary matter arising in the ERDA, as per rules on the subject provided that any decision in relation to those matters shall be made by the Governing Body and/or the General Body.
- The President of ERDA may propose the formation of various Commission / Committees and the Members of those Committees and Commission, subject to ratification by the Governing Body and/or the General Body.
The President may perform any other tasks/functions as directed by the Governing Body or the General Body.
In the absence of the President, one of the Vice Presidents approved by the Governing Body shall preside over the meetings. In the event of prolonged absence of the President, one of the Vice Presidents approved by the Governing Body will take over the duties and responsibilities of the President during the period of absence.
The Vice Presidents may perform any other tasks/functions as directed by the President, the Governing Body or the General Body.
The General Secretary shall be in charge of the day-to-day administration of the Association and shall transact all office business in accordance with the decisions of the President, General Body and Governing Body. He / She shall be responsible for calling all the meetings of the ERDA as per rules and to implement their decisions. He / She shall be responsible for carrying on all correspondence in the name of the Association save as otherwise directed by the President. He / She shall keep and maintain the minutes of all meetings of the General Body and Governing Body of the Association, the register of Members and all such records as may be necessary for the smooth and efficient working of the Association. He / She shall also be responsible for the maintenance of the properties (Movable and Immovable) of the Association. He / She shall prepare and submit at the Annual General meetings of the Association his/her Annual Report. He / She shall convene meetings of the Association under the directive of the President.
The General Secretary may perform any other tasks/functions as directed by the President, the Governing Body or the General Body.
They shall perform such duties may be assigned to them from time to time by the President and/or the General Secretary.
The Joint Secretaries may perform any other tasks/functions as directed by the Governing Body or the General Body.
He / She shall be responsible to deal all the financial matters of the Association.
The Treasurer may perform any other tasks/functions as directed by the President, the Governing Body or the General Body.
They shall perform such duties may be assigned to them from time to time by the President and/or the General Secretary.
The Joint Treasurers may perform any other tasks/functions as directed by the Governing Body or the General Body.
They are entitled to know about the details of all the deals and activities of the Association. They are also entitled to attend and vote in the Governing Body meetings.
The executive members may perform any other tasks/functions as directed by the President, Vice Presidents, General Secretary, Treasure, the Governing Body or the General Body.
Managing Trustee cum Chairman
Managing trustee shall be in the supervisory role along with the President. He shall work for the overall growth of the Association. He shall not be allowed to make any interference in the decision making process of the Governing Body, except the situation when any decision taken by the Governing Body is not in the best interest the society. He shall be allowed to call an urgent general body meeting, if it is highly required. He may also propose to General Body for dissolving the Governing Body, if it doesn’t work properly for the accomplishment of the objectives of the ERDA, in this case General Body shall constitute a new Governing Body. He shall be also responsible to represent the association at different government / public authorities / bodies like Registrar / Sub-Registrar Office, University Grant Commission, Any State or Central University or Institution, AICTE, Income Tax Office, FCRA, etc., including the registration of association or its any unit with such bodies/authorities and further statutory compliances. Administration of social enterprises shall be fully vested in his hands. All the decisions related to social enterprises shall be solely taken by him. He may take advice from the founder trustees and members of the Governing Body in respect of establishment as well as strengthen of social enterprises.
The Chairman of ERDA may perform any other tasks/functions as directed by the General Body from time to time.
One of the Founder trustee nominated by Managing Trustee shall act as a Vice-chairman of ERDA. He / she will help the Managing trustee in fulfilment of his duties. In the absence of managing trustee, he/she shall be responsible to execute the responsibility of Managing Trustee.
He / She may perform any other tasks/functions as directed by the Managing trustee and/or General Body.
Vacancy in the Governing Body and the manner of its filling:
- A member of the Governing Body will cease to be a member on the governing body if he/she fails to attend two consecutive meetings of the committee without any prior intimation and a valid reason.
- The vacancy so caused for the residuary period of the member so disqualified will be filled up by the Governing Body from amongst the member of ERDA and places it before the general body for its approval.
Annual General Body Meeting:
- The Annual General Body Meeting of the Trust shall be held every year
- The Agenda, date, time and place for the Annual General meeting shall be decided by the Governing Body and circulated by the General Secretary along with the notice of convening the General Body Meeting
- Notice for Annual General Meeting shall be issued one month before
- 20% of the total members of General Body or 100 whichever is less shall constitute the Quorum for a meeting of the General Body. In case if the quorum being insufficient at the time notified in the notice of the meeting, the meeting shall be adjourned and the adjourned meeting may be held one hour after the notified time. Such adjourned meeting shall carry on business in terms of the notified agenda with the members eligible to attend and vote. Any number of members present shall be a valid quorum for such adjourned meeting.
- Members for General Body shall be invited on rotation basis. After every three years members of General Body shall be changed.
- Every Question or Resolution coming before the Association shall be decided by the majority of the members present and by voting on the issue. In case of equality of votes, the President shall have a casting vote. The passing of the resolution or an issue shall also be done by circulation being signed and approved by the Association.
Special General Body Meeting:
- In case of urgency or emergency, a Special General Meeting shall be held
- The Agenda, date, time and place for the Special General meeting shall be decided by the Governing Body and circulated by the General Secretary along with the notice of convening the Special General Body Meeting
- Notice for Special General Body Meeting shall be issued three days before
- 20% of the total members of General Body or 200 whichever is less shall constitute the Quorum for a Special General Body Meeting. In case if the quorum being insufficient at the time notified in the notice of the meeting, the meeting shall be adjourned and the adjourned meeting may be held one hour after the notified time. Such adjourned meeting shall carry on business in terms of the notified agenda with the members eligible to attend and vote. Any number of members present shall be a valid quorum for such adjourned meeting.
Meetings of the Governing Body:
- The Governing Body shall meet ordinarily once in a quarter
- The President may call meetings of the Governing Body in case of urgency and to consider an emergent agenda.
- For any emergent problem a requisition meeting may be called if demanded by three-fourth of its members
- The notice of the Governing Body meeting shall be issued at least seven (07) days in advance of the date of the meeting
- The quorum for a Governing Body Meeting shall be twenty one (31). If the quorum at the meeting is insufficient the meeting shall be adjourned for 30 minutes. And such adjourned meeting shall be held after 30 minutes at the same place, the same day. Any number of members present shall be valid for such adjourned meetings.
Governing Body and/or General Body may appoint the eminent persons from diverse background in advisory board of ERDA. Advisory body shall be responsible to give suitable advice to the Governing Body on any matter related to the Association. It may also give the advice for successfully achieving the goals of ERDA.
Administration of Centres or Units of ERDA
Each centre or unit of ERDA shall be headed by a Director. For helping the director, each centre or unit shall have also many Assistant Directors from the various sub fields. All these directors shall be the honorary directors. First director of any centre or unit shall be appointed by the founder trustees, subsequent directors shall be appointed by the Governing body. Assistant Directors shall be appointed by the Director of a respective centre or unit with the approval of the Governing Body. Sound experience of member in the respective field shall be the basis for selection as a director or assistant director. Directorship shall be discontinued, if any director or assistant director is not actively involved in the operation of any specific centre or unit. Governing Body shall be authorised to make the rules and regulations for the proper administration of the various centres or units, if it shall be required. Primary role of the director shall be to manage the entire operations of any specific centre or unit. Director may call the meetings of assistant directors as per requirement. Directors and Assistant Directors may perform any other tasks/functions as directed by the Governing Body / General Body.
Any centre or unit related to social enterprises shall be wholly controlled by the managing trustee and active founder trustees. It shall not be under the control of the Governing body. Membership fees / donations / gifts etc. received by the trust shall not be used for the operation of social enterprises. Each enterprise has separate bank account, books of account, pan card etc. It shall be responsible to pay the Government tax and duties (if any) by own. Agreed proportion of the surplus amount of the social enterprises shall be employed for running the various activities of ERDA.
Association may raise fund in the following ways: a) member’s voluntary contribution or membership fees (if any), b) sale of publication, c) fees from activities, d) donation, endowments, grants etc. from individuals and institutions (both within country and abroad), e) borrowing, f) investment in immovable properties, h) surplus from social enterprises, i) any other appropriate means
All investments of the trust fund as well as other money not immediately required shall be invested in accordance with the provisions of the Indian Trust Act, and under the provisions of the Income Tax Act in the name of the Trust.
Properties of the Trust:
All property of the trust movable or immovable shall vest in the name of trust. Documents relating thereto and affecting such property shall been taken and shall stand in the name of the trust and they shall be executed for on behalf of the trust by the President and General Secretary being duly authorized by a resolution of the Governing Body.
Opening and Operating Bank Account:
The Governing Body may from time to time open and maintain bank account/s in the name of “Education, Research and Development Association” with scheduled commercial bank or co-operative bank or other banks or post office as may from time to time be determined by the governing body. Such account or accounts shall be operated with the joint signatures of the managing trustee and one of the founder trustees or as decided from time to time.
Accounts and Audit:
- The Governing Body shall maintain true and correct accounts of the Trust and the accounts of the institution(s) / unit(s) / branch (es).
- The accounts of the Trust shell get duly audited as required under law
- The Governing Body shall also comply with all rules and regulation of any law that may be applicable to the trust.
Amendment of Rules:
If in the opinion of the Governing Body and circumstances so require, the Governing Body may suggest amendments in the rules and the bye laws for the better management or administration of the trust activities or for carrying out the objectives of the Trust, and present them to general body for its approval.
Making Rules and Regulations:
In addition to the aforesaid rules and regulations, the Governing Body shall form time to time, be entitled to make rules and regulations for proper administration and management of the trust of these presents and all matters incidental to or concerning the name provided, such rules and regulation shall not be repugnant to offend against or be inconsistent with the provisions enshrined in the vision and mission statement and the purpose of the trust thereof, and that all such changes shall be reported to the general body at the first opportunity for its approval and ratification, if needed.
Wind up of Trust:
In case of Trust is not able to function for any reason or the Governing Body want to wind up the Trust, the Assets of the Trust after meeting the liabilities of the trust shall be transferred to another Public Trust or Society selected by the Governing Body which has similar objects.