PRIVATE TRUST

PRIVATE TRUST

THIS INDENTURE made at (city) this ____ day of ________, 19___ BETWEEN SHRI

________________, an Indian Inhabitant of (city), hereinafter called "THE SETTLOR" (which

expression shall include his heirs, executors and administrators wherever the context so requires or

admits) of the ONE PART and (1) SHRI __________________, and (2) Smt.

__________________ wife of SHRI __________________ both of (city), Indian Inhabitants,

hereinafter called "THE TRUSTEES" (which expression shall so far as the context will admit, will

mean and include the survivors or survivor of them and the heirs, executors and administrators of

such survivors or survivor and the Trustees or Trustee for the time being of these presents) of the

OTHER PART.

WHEREAS :

i. The Settlor being absolutely seized and possessed of or otherwise

well and sufficiently entitled to a sum of Rs.1,000/- (Rupees One

Thousand Only ) is desirous of settling the said sum of Rs.1,000/-

(Rupees One Thousand Only ) for the benefit of life interest for Mr.

__________________ and Mrs. _____________________ and

thereafter for the ABC Trust.

ii. At the request of the Settlor, the Trustees have agreed to act as the

First Trustees of these presents, as is testified to by their joining in

and executing these presents.

iii. The Settlor has prior to the execution of these presents handed over

to the Trustees the said sum of Rs.1000/- (Rupees One Thousand

Only) to be held by the Trustees upon the Trusts and with and

subject to the powers, provisions, declarations and agreements

hereinafter contained of and concerning the same.

NOW THIS INDENTURE WITNESSETH AS FOLLOWS :

1. In consideration of the natural love and affection the Settlor bears

towards (1) Mr. __________________ and (2) Mrs. ________ w/o.

__________________, the Settlor, DOTH HEREBY CONFIRMS,

DECLARES that he has transferred the right over the said sum of

Rs.1,000/- (Rupees One Thousand Only ) to the Trusties TO HAVE

AND TO HOLD the same unto the Trustees and the investments for

the time being and from time to time representing the same upon for

the use, purposes and benefits with and subject to the powers and

provisions hereinafter declared and contained of and concerning the

same.

2. The name of the Trust shall be "__________________ TRUST".

3.

a. The Trust Fund shall mean the said sum of Rs.1,000/-(Rupees

One Thousand Only) and unless repungant to the subject or

1

context thereof shall also include any other property that may be

acquired by the Trustees or come to their hands by virtue of

these presents or otherwise howsover in relation to these

presents including all gifts either in cash or other properties

movable or immovable or otherwever which may be received by

the trustees from time to time for the purpose of these presents.

b. The date of the Distribution shall be the date when the survivor

of Mr. ___________ and Mrs. ________ expires or

____.___.200_ whichever is earlier.

c. On the date of the distribution the Trustees shall distribute,

transfer and convey the Trust Fund together with income, if any,

to "ABC Trust".

4.

a. It is hereby agreed and declared between the parties of these

presents that the Trustees shall hold and stand possessed of the

said sum of money and/or any other properties or assets that

may come under the Trust of these presents or be substituted or

added and which money and/or other properties or assets are

herein designated as the "Trust Fund" and subject to the powers,

provisons, agrements and declarations hereinafter contained and

concerning the same and the income arising from the Trust Fund

under or by virtue of the provisions of this Deed upon the Trust

to receive the annual or other income of the Trust Fund and all

other income arising under this Deed (income for this purpose

being regarded as including capital gains referred to in the

Income tax Act) and in the first place to reimburse and or

discharge all the cost and expenses which may be incurred in or

about the administration of the Trust of these presents including

any government dues, income tax or wealth tax or other taxes

levied or reviable upon the Trustees or upon any beneficiary or

persons having interest in the corpus or in the income of the

Trust Fund, ground rent, insurance premia, cost of ordinary

repairs, salaries and wages of the servants and all other usual

outgoings charges and expenses of and incidental to the

provisions of the Trust Fund in respect of or by reason of such

interest of such beneficiaries or person and including also all

outgoings and municipal or other rates, assessment and duties

and the cost of ordinary repairs of any immovbale property

forming part of the Trust Fund.

b. After deducting or setting apart the expenses mentioned in

clause 4(a) above from the gross income of the Trust Fund, the

net income from the Trust Fund will be paid to by Shri

__________________ and Smt. _____________ W/o.

2

__________________, the beneficiaries herein for being utilised

for their maintenance and residence during their life time. The

said Trustees will not be entitled or bound to ask the said

beneficiariess to give account for amount so paid during their

lifetime untill their death.

c. On the death of either of Shri _________ and Smt. ________,

the aforesaid net income will be paid to their survivor without

any liability to account for his / her lifetime and untill his/her

death.

d. On the death of both Shri _________and Smt. ________ , the

entire income together with corpus shall be treated as the corpus

of the ABC Trust (which was settled on __ day of _____ , 19___

by Shri __________) and thereafter it will be applied for the

benefits of ABC Trust . In accordance with the provisions

contained in the aforesaid Trust Deed dated ___-__-19__ .

5. The Trustees shall have the powers to receive and accept gifts,

donations of any moveable or immoveable properties and such

amounts as and when received shall form part of the Trust Fund.

6. The Trustees will be entitled to invest all moneys liable and

authorised in any one or more of the following :-

a. in any of the modes of investments authorised by the Indian

Trust Act;

b. in moveable properties including shares, debentures, bonds, or securities of any joint stock company,

corporation, Unit Trust of India or Mutual Funds or other Institutions;

c. as deposits (current, saving, fixed or any other) with banks, joint stock companies or partnership firm

on such terms and conditions as the Trustees may in their discretion think fit;

d. in the purchase of any immoveable property, whether freehold or leasehold;

e. in granting of loans to individuals, firms, association of persons, joint stock companies or otherwise

whatsoever;

f. in carrying on business either by themselves or in partnership or otherwise as they may in their

discretion think fit and close and restart any business and utilise the profits derived therefrom for the

objects aforesaid.

The Trustees shall have power to vary from time to time the investments for others of the same or of a like or

different nature.

7. Without affecting the generality of the powers, provisions and authorities vested in the Trustees under these

presents, the Trustees shall have, in addition thereto and not in substitution thereof,the following powers and

shall be entitled to execute all acts, documents and things necessary ancillary or incidential thereto that is to

say:

a. To open and operate a Banking account/accounts of the Trust in any Bank or Banks of repute, in the

3

name of the Trust or in the name of all of them. All amounts received by way of dividends, interest,

rent, profits or other income shall be credited to the said amounts. Such accounts shall be operated

by any one of the Trustees.

b. To borrow moneys or raise loans and funds required for any purpose, power or provisions either

directly or indirectly connected with the objects of this Trust or for any object incidental to these

presents.

c. To draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange and

other negotiable instruments.

d. To purchase, take on lease or sub-lease, leave and licence basis co-operative schemes or any other

arrangements of in exchange hire or otherwise acquire or deal with or own any immovable or movable

property and any rights, benefits or privileges which the Trustees may think necessary or convenient.

e. To purchase on ownership basis or take on rent or compensation residential flats, business premises,

industrial sheds or factory premises, godown or open plot of land and let out the same or give on

leave and licence basis or for compensation or warehousing charges or storage charges.

f. To construct, develop, maintain and alter any buildings, structures, industrial estates, factories or

works of any nature whatsoever necessary or convenient or which the Trustees may in their absolute

discretion think fit.

g. To sell, improve manage, develop, exchange, lease, mortgage, charge, pledge, hypothecate, dispose

of or deal with all or any part of the Trust Fund and premises hereby settled or any part or parts

thereof.

h. To organise agencies or offices or to make any other arrangements necessary for conducting and

managing the Trust and to appoint such Agents and Representatives in that behalf as the Trustees

may in their absolute discretion think fit.

i. To enter into partnership or joint ventures or other arrangements with any other person,firm, body

corporate society, federation, association of individuals or otherwise, howsoever, for carrying on any

business or businesses, industries or commercial activities for and on behalf of the Trust and to

appoint any one or more of Trustees to be partners, representatives or nominees or nominee for and

on behalf of the Trust to carry out or implement any such arrangements, as the case may be.

j. The Trustees may deposit any documents of title or any other papers or documents or certificates

held by them relating to any movable or immovable property or relating to the Trust under these

presents with any Bank or Bankers or any other persons, firms or company whatsoever for safe

custody and may pay any such charges payable in respect of such deposits.

k. The Trustees, at their uncontrolled discretion instead of acting personally may employ and pay any

agent, person or repre-sentative including any Bank or Insurance Company to transact any business

or to do any act whatsoever in relating to the Trustees of these presents including the receipt and

payment of moneys without being liable for loss and shall be entitled to be allowed and paid all

charges and expenses incurred thereby.

l. The Trustees shall be entitled from time to time to appoint on such terms as they may determine any

manager or managers, officers, clerks or care-takers for any immovable or movable property subject

to the provisions of this Trust and to pay them salary, wages, emoluments, fees, remuneration etc. as

they in their absolute discretion think fit.

m. The Trustees shall have power to delegate any Power of Attorney to any Trustee or other person

whomsoever any powers implied by law or conferred by stature or vested in the Trustees by these

presents but the Trustees shall not be held liable or responsible for the acts or defaults of any such

person or persons but only for their own respective acts or defaults.

8. In the event of the Trustees purchasing an immovable property or properties out of moneys belonging to the

Trust, it shall be lawful for the Trustees to repair, demolish or rebuild them well as any other buildings or

4

structures, out of the Corpus of the Trust Fund and to give lease of such properties on such term/terms of

years or any monthly tenancy at such rent or rents and upon such conditions as the Trustees may in their

absolute discretion think fit and to make allowance with tenants and other including power to condone

breaches of covenants and to accept surrender of lease or tenancies and generally to have all powers of

management of such immovable property or properties as absolute owners without being responsible for

loss or damages that may happen thereby IT SHALL ALSO BE LAWFUL for the Trustees at any time in their

discretion to sell such immovable property or properties or part or parts thereof or easements,rights or

privileges exercised or enjoyed in over for or upon or under such immovable property or properties and upon

any such exchange to give or receive moneys for equality or exchange.

9. The Trustees may make any such sale as aforesaid either by public auction or private contract and may

make or agree to any stipulations or provisions as to title to evidence or commencement of title or otherwise

to any conditions of sale or contract for sale or exchange and may buy in at any sale by auction and rescind

or vary any contract and enter into any new contract for any of the purpose aforesaid without being

responsible for any loss. The Trustees may execute assurance give effectual receipts for effectuating any

such sale or exchange which they may think proper.

10. The Trustees may frame rules and regulations for the administration of the Trust and to conduct the affairs

thereof, as they deem fit.

11. In the event of any difference between the Trustees concerning the affairs of the Trust, the decisions of the

majority of the Trustees shall prevail. The Chairman of the meeting shall have a casting vote.

12. There shall not be at any time less than 2 or more than five Trustees of these presents. The Trustees shall

have power to add to their number, subject however, to the maximum limit provided herein.

13. Any Trustee for the time being thereof may at any time retire from the Trust on giving not less than one

month's notice in writing of her / his intention to do so to each of the other Trustees for the time being hereof

and upon expiry of such notice the Trustees giving such notice shall cease to be Trustee of these presents.

14. Every one of the Trustees for himself or herself doth hereby agree that in the event of his or her vacating the

office of the Trustees, he or she shall do all necessary acts, deeds and things for duly transferring over the

Trust Fund to the name or names of the new and/or additional Trustees or Trustee. All costs attending such

transfer shall be borne out of income of the Trust Fund.

15. If the Trustees hereby appointed or any of them or any future Trustees or Trustee hereof shall die or go to

reside abroad for more than two consecutive years or shall desire to retire from or refuse or become unfit or

incapable to act in the Trusts or these presents or become insolvent or the Trustees shall be desirous of

appointing an additional Trustee or additional Trustees which he/she or they are hereby authorised to do,

then it shall be lawful for the surviving or continuing Trustees or Trustee of these presents and if thereby no

surviving or continuing Trustees then for the retiring or refusing Trustees or Trustee and failing them for the

heirs, executors or administrators of the last surviving Trustee to appoint any other person or persons to be a

Trustee or Trustees in place of the Trustees or Trustee so dying or going to reside abroad for more than two

consecutive years or desiring to be discharged or refusing or becoming unfit or incapable to act or being

adjudged insolvent or to appoint an as additional Trustee or Trustees as aforesaid with liberty upon such

appointment to increase or diminish the number of Trustees for the time being but so that the number of

Trustees of these presents shall at no time be less than two or more than five AND UPON every such

appointment made the Trust Fund hereby settled and the investments for the time being representing the

same shall be so transferred to become vested in the new Trustee or Trustees so appointed and every

Trustee so appointed may as well before or after such transfer act as fully and effectually as if he/she/they

had been originally appointed a Trustee PROVIDED ALWAYS that without prejudice to any other provisions

of the law a Trustee of these presents shall stand discharged from his/her office of Trustee or on his/her

tendering resignation of his/her office and on the same being accepted by the remaining Trustees of these

presents PROVIDED FURTHER that notwithstanding anything herein contained to the contrary it shall be for

the Trustees if they all unanimously agree in that behalf to appoint a Bank or a Company or the official

Trustee of Bombay as a Trustee of these presents either solely or jointly with other Trustees and in such

event the fees payable to such Bank or Company or the Official Trustee as a Trustee shall be paid out of the

Corpus of the Trust Fund and the annual fees or other charges payable to such Bank or Company or Official

Trustee shall be paid out of the income of the Trust Fund, PROVIDED FURTHER that in the event of any

Bank or Company being appointed a Trustee of these presents, the Trustee shall have power to adopt and

5

add to the provisions of this Trust Deed such new clauses and powers relating to the administration of the

Trust and the custody of the Trust Fund as such Bank or Company reasonably require and as are usually

included in Trusts in which such Bank or Company may have been appointed a Trustee.

16. It shall be lawful for the Trustees to borrow moneys either on the security of the Trust Fund or otherwise, for

the purpose of making any payment in respect of any estate duty or gift tax or any other tax or duty in

connection with the corpus of the Trust Fund or any part thereof so that the moneys may be borrowed at

such rate of interest and on such terms as the Trustees may in their absolute discretion think proper

PROVIDED THAT any estate duty gift tax or any other tax or duty payable in respect of the Trust Fund shall

be payable out of such fund respectively and the Trustees shall be entitled to be reimbursed in respect

thereof from such fund liable for the same and to keep such fund with themselves until any such duty or tax

in connection therewith shall have been paid or satisfied or until the statutory period in respect of the payment

thereof shall have expired.

17. AND IT IS HEREBY FURTHER AGREED AND DECLARED that the Trustees for the time being of these

presents shall be respectively chargeable only for such Trust Funds and the income including

moneys,stocks, funds, shares and securities as they shall respectively actually receive notwithstanding their

respectively signing any receipt for the sake of conformity and shall be answerable and accountable only for

their own acts, receipts, neglects or defaults and not for those of the others or other of them nor for any

Bankers, Broker, Auctioneer or Agent of any other person or persons into whose hands any Trust Fund or

Trust income may be deposited or come nor for lending on any security with less than marketable title nor for

the insufficiency or deficiency of any stocks, funds, shares, securities nor any other loss unless the same

shall happen through their own wilful default or dishonesty respectively AND ALSO that the Trustees or

Trustee for the time being of these presents may reimburse themselves or himself / herself and pay or

discharge out of the Trust property or Fund all expenses incurred in or about the execution of the Trust or

powers of these presents.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands and seals the

day and year first hereinabove written.

SIGNED AND DELIVERED )

by the withinnamed "SETTLOR" )

SHRI _________ s/o.Mr. __________ ) _____________________

in the presence of .......................... )

SIGNED AND DELIVERED )

by the withinnamed "TRUSTEES" )

(1) SHRI __________________ ) _____________________

(2) SMT. ________ WIFE OF ) _____________________

__________________ ) _____________________

in the presence of .......................... )