TRUST DEED

Chennai Photo Biennale Foundation

THIS DEED OF TRUSTmade at Chennai and executed on this [•] by:

1. Varun Gupta, aged about [•], residing at 21 Sea World Drive,

Thiruvalluvarnagar, Thiruvanmiyur, Chennai 60004, India, hereinafter referred
as “Founder 1”
2. Gayatri Nair, aged about[•], 46, 4th seaward road, Valmiki Nagar,
Thiruvanmiyur, Chennai 60004, hereinafter referred as “Founder 2”
3. ShuchiKapoor, aged about[•],1A, Abirami Le Park, Karpagambal Nagar, Before
Vivekananda College, Mylapore, Chennai – 600004, hereinafter referred as
“Founder 3”
Hereinafter, collectively referred to and called as FOUNDERS OF THE TRUST, which
expression will unless repugnant to the context or meaning thereof to be deemed
to include their respective heirs, executors, administrators of the FIRST PART.

WHEREAS :
1. The Founders are desirous of creating a non- profit public Charitable Trust and
in fulfilment of such desire the Founders have settled a sum of Rs.[●] /-
(Rupees [●] only) as a fund by way of an initial contribution to form the
nucleus/corpus of this Trust.
2. The Founders are the initial trustees and have given their consent to be
appointed as the trustees and as token thereof, they have set their hands to
this Deed and to hold and apply the said sum of Rs.[●]/- (Rupees [●]only) only
and all gifts, contributions, subscriptions and donations for the said fund for
such purposes and subject to the trusts, powers and provisions contained in this
deed.

NOW THIS DEED OF TRUST WITNESSETH AS FOLLOWS:

In this Deed, unless the context otherwise requires, the following words or
expressions shall have the meanings respectively assigned to them herein:-
(a) “Board of Trustees” means the Trustee or Initial Trustees for the time
being of the Trust hereby constituted.
(b) “Deed” means this Trust Deed, including any modifications thereof as
provided herein, and any supplemental deed and any schedule thereto.
(c) “Income of the Trust” means all income derived by way of interest or
otherwise by the investment of the Trust Fund, and shall include any
capital gain or profit on the realisation of the investments, and any
feesand all other amounts realized by the Trust from time to time, and
any amount or assets received by way of contribution or otherwise from
any person or persons.
(d) ‘Month’ and ‘Year’ shall respectively mean a calendar month and year
according to the English Financial Calendar.
(e) ‘Managing Trustee’ means the Managing Trustee for the time being
holding such office in accordance with the provisions of this instrument.
(f) ‘Trust’ means the trust created by this Instrument which shall be known
as the “CHENNAI PHOTO BIENNALE FOUNDATION”
(g) The expression “Trustees” shall mean the initial trustees, the trustees
from time to time nominated/appointed under these presents.
(h) ‘Trust Fund’ shall mean and consist of all assets and properties of the
fund including the following :
i. All donations, contributions and payments received by the
Trustees from any person for the purpose of carrying out,
implementing, or administering the objects of the Trust
ii. All profits arising out of the realisations of any of the investments
of the Trust
iii. All assets and properties that may be purchased or acquired from
out of the said funds or otherwise required for the Trust
iv. All fees from students and members of institutions run, managed
or owned by the Trust
v. All sums and assets which have by any means become the property
of the Trust
(i) ‘Person’ shall be deemed to include firms, associations or individuals
and bodies corporate
1. NAME OF THE TRUST
The Trust hereby formed shall be named “CHENNAI PHOTO BIENNALE
FOUNDATION”. This Deed shall be subject to the provisions of the Indian Trusts
Act, 1882, and in case of any conflict, the provisions of the Act shall prevail.

2. PRINCIPAL OFFICE OF THE TRUST

The office of the Trust shall be situated at present at 21, Sea World Drive,
Thiruvalluvarnagar, Thiruvanmiyur, Chennai -600041, Tamil Nadu, India or at such
other place in India as the Trustees may decide upon. The principal place of office of
the Trust shall be at 21, Sea World Drive, Thiruvalluvarnagar, Thiruvanmiyur,
Chennai -600041, India.

3. OBJECTIVES OF THE TRUST

The objectivess for which the Trust has been established and for whichall or any
portion of the Trust Fund and the income thereof may be applied in the sole and
unfettered discretion of the Trustees are as follows:

i. To create an ecosystem for photographers in Tamil Nadu and to

engage the public in furtherance of the said goal
ii. To create an environment that brings together artists from different
streams and to give them a platform to make themselves heard
through a visual medium.
iii. To schedule and conduct workshops, mentorship programs related to
photography, critical thinking etc. for the all round development of
individuals
iv. To create awareness amongst the people of Chennai as to the visual
documentation, archiving and preservation of this its History and
Traditions.
v. To educate, inform and break existing mindsets in order to propagate
the power of photography
 vi. To make Chennai a hub for the arts and a place to freely share socio-
political thought by providing a platform for the unheard voices of
the people
vii. To create a platform to address socio-political, environmental and
human rights issues.
viii. To provide a stage for the amateur and emerging photographers in
order to allow for them to participate, showcase and interact with
renowned international and national photographers.
ix. To promote localized photography talent and build a homogeneous
community based on the same.
x. To undertake any other related activity that is incidental, ancillary or
complementary to the above objects.
xi. To do all such other lawful acts, deeds or things as are incidental or
conductive to the attainment of any of the objectives of the Trust.
Without prejudice to the aforementioned objectivess, the profits, income
and property of the Trust will be applied solely for the promotion of the
objects of the Trust and no portion thereof shall be paid or transferred
directly or indirectly by way of dividends, bonuses or otherwise howsoever
by way of profit to any person. The Activities would be of purely charitable
in nature and not motivated for profit. 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 Trustees or persons.

4. It is hereby declared that the objectives above mentioned shall not be

limited or restricted to any particular caste, community, creed or
nationality.
5. TRUSTEES
5.1 The present Trustee shall consist of the following:
[•]
5.2 The number of the Trustees shall not be less than three and not more than fifteen. If
the number of the Trustees shall fall below three, Trustees shall not, except for the
purpose of filling the vacancy, act so long the number in below the said minimum.
5.3 The term of office of all Trustees shall be life long from the date of execution of
execution of this Trust Deed.
5.4 The Trustees shall act with utmost co-ordination among themselves with brotherhood
irrespective of their political parties and their communities’ status, position, language,
race etc., to promote the object of the Trust successfully.
5.5 The Trustee shall cease to hold office if the person.
 i) Becomes unsound mind
ii) If convicted of an offence involving moral turpitude
iii) Has been adjudged insolvent
iv) Is otherwise disqualified to act as a Trustee according to the Indian Trust
Act, 1882 or any other acts.
5.6 The Board of Trustees can remove any Trustee by ¾ majority of Board of Trustees if
he/she acts against the terms and conditions and the object of the Trust.
5.7 Any vacancy in the office of Trustees, due to death / resignation may be filled up by
the continuing Trustees by a decision of the Board of Trustees. The vacancy shall be
filled within 30 days from the date of creation of such vacancy.

6. APPOINTMENT OF TRUSTEES

The parties to the Trust Agreement hereby appoint the Trustee as trustee of the Trust, to have all
rights, powers and duties set forth in the Trust Agreement and in accordance with the applicable law
with respect to accomplishing the purposes of the Trust.

NUMBER OF TRUSTEES AND THEIR TERM

The Trust will be managed by a Board of Trustees consisting of not less than 3 trustees
and not more than 15 trustees.
4. The Trustees shall hold office for a life long period from their date of appointment. Their
appointment will be held valid until a Trustee voluntarily terminates his/her post or in the
event of their death.

5.7. ADMINISTRATION OF THE TRUST

I. The Board of Trustees shall have the following powers:
a) The administration of the Trust shall vest with the Board of Trustees.
b) The Trustees named above (“Initial Trustees”)All the trustees holding
office at any point of time shall be referred collectively as the Board of
Trustees. shall automatically form the Board of Trustees.
c) To administer the Trust, its properties and affairs and do all the things
which will fulfil the performance of the objects for which the Trust is
established and for this purpose the Board can apply the whole or any part
of the Trust property towards the payment of the expenses of the Trust.
d) To apply the income and the properties of the Trust solely towards the
objects of the Trust and no portion of it will be utilized for payment to the
Founder, or Trustees or their relatives or to donors or any concern in
which any of these persons have a substantial interest, by way of salary,
allowances, profit, interest, dividend etc.
e) To open one or more bank accounts and operate the same or provide for
operation of the said accounts in the manner as specified below.
f) To invest the Trust funds as per the objects set out above and in the
manner not prohibited by any provisions of the Income Tax Act, 1961.
g) To buy, sell, mortgage, grant, lease, hire or otherwise alienate all or any
of the properties of the Trust in its discretion for adequate consideration,
so however any sale or alienation of immovable properties of the trust can
be done only after obtaining the prior approval of the Commissioner of
Income Tax.
h) To execute power of attorney or powers of attorney to any person for the
purpose of executing, administering or managing the whole or any part of
the Trust for the purpose of all or some among the objects of the Trust.
i) To borrow money with or without security and to repay the same.
j) To receive, collect and enforce recovery of all monies due or payable to
the Trust and grant receipts and discharges therefore.
k) To settle, compromise or compound any disputes or refer the same to
arbitration or litigation.
l) To receive voluntary contributions from any person or persons from India
or outside, after complying with the statutory formalities, by way of
donation, gifts or in any other manner and to hold the same upon Trust for
the objects set forth herein.
m) To appoint, suspend, dismiss or otherwise deal with the staff required for
the administration of the Trust, to frame rules relating to their salaries
and other benefits and generally to exercise all powers ancillary and
incidental to effectively carry out the objects of the Trust.
n) To make and rescind rules and regulations for the management and
administration of the Trust.

II. Administration of Trust

o) The Board of Trustees will follow the instructions given by any donor who
makes substantial contribution towards furtherance of the objects of the
Trust, so long as such instructions are not detrimental to the attainment of
the objects of the Trust and are in conformity with the provisions of the
Income-tax Act, 1961.
 p) The Board of Trustees, may appoint the services of an Executive Council
which shall provide advice on all the operational aspects of the trust which
the Trustees may act upon. The Executive Council may be a body of
individuals or experts, a firm, a corporation or such other person as the
Trust deems appropriate, to manage the affairs of the Trust. The Trust
shall be entitled to make such payments on an arms-length basis for the
engagement of such Executive Council.
q) For the management and administration of the Trust, the Board of
Trustees may, if it deems necessary for the effective operation of the
Trust, appoint from among themselves or competent, duly qualified
professionals for each of the offices of Vice President, Secretary and
Treasurer. The term of office for Vice President, Secretary and Treasurer
shall be for a period of one year from their date of appointment and they
may be re-elected for further terms. The persons holding these offices of
Vice President, Secretary and Treasurer shall be under the administrative
guidance and supervision of the Board of Trustees and will report to
directly to the Trustees. The Trustees may also appoint a person, being a
corporate entity, to discharge such functions as may be required to be
discharged by the Vice President, Secretary and Treasurer.
r) The Roles, Responsibilities and powers of all these officers is defined
below. In addition to these, the Managing Trustee may grant additional
roles, responsibilities and powers to any of the Trustees.

III.II. MANAGING TRUSTEE:

s) The Managing Trustee shall be Varun Gupta. In addition to discharging
normal duties of a trustee, the Managing Trustee shall preside over
meeting of the Board of Trustees. The Managing Trustee is authorized to
sign all documents, including bank documents, acknowledgements for the
contributions received, and agreements with individuals, government
institutions and other organizations, on behalf of the Board of Trustees.
The Managing Trustee of the Trust is authorized to sue or to be sued on
behalf of the Trust. The Managing Trustee shall have all the residuary
powers, not explicitly assigned to any of the other officers in these
 presents. In the event if any of the officers (i.e Vice President, Secretary
or Treasurer) are not appointed or their office remains vacant for any
other reason, the Managing Trustee shall perform the functions and roles
enlisted for them.
t) The Managing Trustee is authorized to sign along with the Treasurer of the
Trust, the bank cheques, deposit release vouchers etc and draw money
from the bank, up to the limits defined by the Board of Trustees in their
meetings..
u) The Managing Trustee is responsible for ensuring that the Trust pursues its
Objects and for maintaining the dignity of the Trust organization and shall
use his/her influence to promote the activities of the Trust.

IV. VICE PRESIDENT:

v) The Vice President shall discharge the duties of the Managing Trustee, in
the absence of the Managing Trustee of the Trust and shall have the power
and authority delegated and assigned to him/her by the Managing Trustee.

V.III. SECRETARY:
w)v) The Secretary shall maintain the records of the organization prepare
and circulate agenda and minutes of Board of Trustee meeting for the
approval of the Managing Trustee.
x)w) The Secretary shall be also responsible for the day to day
administration activities of the Trust. The Secretary shall deal with
correspondence received by the Trust, send replies in consultation with
the Managing Trustee, Vice President and/or the Treasurer where
necessary. He/she is responsible for the safe custody of all the properties
and records of the Trust. The Secretary shall under the direction of the
Managing Trustee have the right to represent the Trust in all legal
matters, sign the papers related to legal cases, attend to courts or
represent the Trust in Government offices.

VI.IV. TREASURER:
 y)x) The Treasurer shall be responsible for the preparation of an annual
budget, monthly and yearly expenditure statements; and get the
expenditure audited by an auditor duly appointed by the Board of Trustees
and place them before the Board of Trustees for approval. The Treasurer
is responsible to maintain cash book and prepare vouchers for the
payments made, receive contributions, sign acknowledgements for the
amounts or articles received by the Trust and prepare monthly and yearly
statements of revenue and expenditure, as well as, the register of assets
of the Trust and place them before the Board of Trustees for their
approval.
z)y) The Treasurer is authorized to sign bank cheques, application for
drafts and payment instructions jointly with the Managing Trustee and
draw money from the bank, up to the limits defined by the Board of
Trustees in their meetings. The Treasurer is responsible for safe custody
of cash, bonds, securities etc. of the Trust.

6.8. MEETING OF THE BOARD OF TRUSTEES:

The Board of Trustees should meet at least once in every calendar quarter and
may meet more often when required.

a) The meeting of Board of Trustees shall be convened by the Managing

Trustee and he shall preside over the meetings. In his absence, the
Managing Trustee may authorize the Vice President to be the Chairman of
such meetings. In the event the Managing Trustee or Vice President are is
not able to attend the meeting already convened, any of the Trustees
present in the meeting may elect one amongst themselves to preside over
be the Chairman of the meeting.

b) One half of the Board of Trustees or a minimum of two Trustees,

whichever is higher, shall constitute the QUORUM for the Board of Trustee
meetings.
 c) All decisions shall be carried out by the majority decision of the Board but
in the event of equality of votes, the Chairman Managing Trustee presiding
over the meeting shall have a casting vote.

d) Any resolution in writing signed by all the Trustees by circulation shall

have equal force as though it has been passed at a meeting of the Board of
Trustees.

e) The meeting of the Board shall be conveyed after giving at least a week’s
notice unless all the Trustees agree to accept a shorter notice.

f) The Board of Trustees may invite other persons interested in the objects
and functioning of the Trust to attend the meetings of the Board, but they
shall not be entitled vote in the meetings of the Board.

7.9. BANK ACCOUNT:

The Managing Trustee and the Treasurer shall jointly operate Bank Accounts on
behalf of the Trust. In their absence, any of the Trustees may be authorized by
the Board of Trustees, by a resolution, to operate the bank accounts. One or
more Bank Accounts may be opened in any Bank and or Banks in the name of
the Trust.

8.10. INVESTMENT OF TRUST FUNDS:

a) The Board of Trustees shall have the power to invest the funds, assets and
properties of the Trust at their discretion in accordance with the
provisions of the Income Tax Act, 1961.
b) The Board shall also determine from time to time, the amount it shall
spend on the various activities of the Trust.
9.11. ACCOUNTS AND AUDIT:
a) The financial year of the Trust shall be from 1st April to 31st March of the
following year, unless otherwise decided by the Board of Trustees.
b) The Board of Trustees shall maintain true and correct accounts of the
Trust.
c) The accounts of the Trust shall be annually audited by a Chartered
Accountant appointed by the Board of Trustees and the audited statement
of account shall be placed before the Board for its approval within three
months of the close of the financial year.

10.12. AMENDMENTS:
a) While this Trust shall be irrevocable, the Board of Trustees may amend
any of the clauses except those relating to objects of the Trust, the First
Managing Trustee and First Trustees, at a duly convened meeting of the
Board with at least a week’s notice, and by a resolution passed by at least
three-fourths majority of the Board of Trustees present and voting. The
amendments to the Trust deed, can only be passed by a resolution of the
Board of Trustees in an actual meeting and not by circulation.

a) If any alteration or amendment is necessary, the same shall be affected

through supplementary deed/deeds with the previous approval of the
Commissioner of Income Tax and these shall be read together with the
main Trust deed.

11.13. INDEMNITY:

The Board of Trustees shall be indemnified for any act done by them in
good faith in the course of the administration of the Trust.

12.14. FOUNDERAND THEIR RELATIVES:

Notwithstanding the powers vested with the Trustees under the proceeding
clause, no part of the income of the Trust shall benefit directly or indirectly
the trustees and no part of the income of the property of the Trust shall be
used or applied directly or indirectly for the benefit of:

(a) FOUNDER, Managing Trustee, Trustees or any person who makes a

substantial contribution to the Trust or of any relative of the FOUNDER,
Managing Trustee, Trustees or the person who makes a substantial
contribution.

(b) Any “concern” in which any of the above persons has substantial interest.

(c) For the purpose of this clause, the word “relative” and the phrases
“concern”,“substantial interest” and “substantial contribution” shall
have the meanings assigned to them in the Income Tax Act, 1961.

13.15. APPLICATION OF INCOME TAX ACT:

All clauses herein are intended to secure exemption from Income Tax on the
income of contributions and donations to the Trust and any clause or portion of
this Deed of Trust which is inconsistent with or repugnant to the sections of the
Income Tax Act, 1961 as amended, substituted or modified from time to time,
shall be deemed to be deleted or modified with effect from the date on which
the sections to which the clause or part of a clause is repugnant or inconsistent
comes into force.

14.16. THIS TRUST IS DECLARED IRREVOCABLE.

15.17. DISSOLUTION:
In the event of dissolution of the Trust, the entire Trust funds shall be realized
and first be used for payment of liabilities of the Trust. The assets left if any,
shall be disbursed to other Trusts or institutions having similar objectives after
obtaining previous approval of Commissioner of Income-tax and in no event it
shall be distributed in any manner, to persons specified under Clause XII.
 SCHEDULE

At present, the Trust has no property or assets, either movable or immovable,

other than the Trust Fund, donated by the Founder, as described in the Schedule
below:

1. Cash contribution to the Corpus Fund of the Trust – Rs. [•]

IN WITNESS WHEREOF THE FOUNDER AND THE FIRST TRUSTEES here to have set
their hands on the day, month, and year first above written.

SIGNATURE OF FOUNDER SIGNATURE OF FIRST TRUSTEES

Signature: -------------------- 1. Signature: --------------------

Name: Name:

Address: Address:
Witnesses: 2. Signature: ---------------

1) Signature: --------------------
Name and address Name:

Address:

2) Signature:-------------------------- 3. Signature:----------------

Name and address Name:

Address: