Seth GS Medical College

And

K.E. M. Hospital

Department Development Fund

Seth G. S. Medical College, K. E. M. Hospital

Parel, Mumbai-400012.

THIS DEED OF TRUST is made at Mumbai this12th day of March, 2003 between DR (MRS.) NILIMA A.KSHIRSAGAR, DEAN, K.E.M. HOSPITAL, Indian Inhabitant residing at Dean’s Bunglow, K.E.M. Hospital, Parel, Mumbai hereinafter referred to as “THE SETTLOR” (which expression shall mean and include her heirs, executors, administrators and legal representatives) of the one part and

1. Dr. Ravi Ramakantan, Dept. of Radiology, KEM Hospital, 3^rd floor, AD Bunglow, Parel, Mumbai 400012.
2. Dr. PadmavathySreekumaran Menon. Dept. of Endocrinology, Flat No: -D1-702, Lok upvan Phase II, Gladys Alvares Road, Off Pokhran road 2, Thane (W), Pin 400601.
3. Dr. Preeti Rajeev Mehta, Dept. of Microbiology, 1/9, Govt. Colony, Haji Ali Park, Mumbai 400034.
4. Dr. Vinita Sitaram Salvi, Dept. of Gynacology, 3, Bhana Mansion, AimaiMerwanji Street, Parel Mumbai-400012.
5. Dr. Lata Sunil Bichile, Dept. of Medicine, Assistant Dean Banglow, R.N.1, Ground floor, Dr. S.S.Rao Road, Parel Mumbai- 400012.
6. Dr. Sandeep BhalachandraBavdekar, Dept. of Pediatric Medicine, A2-9, Worli Seaside CHS, Khan Abdul Gaffarkhan Rd, Worli, Mumbai- 400018.

all the Indian Inhabitants, hereinafter, referred to as the Trustees (which expression shall mean the trustees for the time being of this Trust) of the other part;

Whereas the Settlor is desirous of settling the sum of Rupees One Thousand Only (Rs. 1,000/-) upon trust for public charitable purpose as hereinafter expressed or contained in these presents and in pursuance of such desire has handed prior to the execution of these presents Rupees One Thousand (Rs. 1,000/-) to the Trustees, and Trustees accepted the said sum for and on behalf of the Trust and subject to the powers and provisions, terms and conditions hereinafter declared and contained in the said Trust and whereas the Trustees have agreed to become the first Trustees of these presents as testified by their being parties to these presents and executing the same.

NOW THIS INDENTURE WITNESSETH that for effectuating the said desire and in consideration of the premises the Settlor does hereby declare that she has prior to the execution of these presents paid, assigned, handed over and transferred a sum of Rs. 1,000/- (Rupees One Thousand Only) to the Trustees herein and they the Trustees hereby confirm such payment, assignment handing over and transfer of the said sum of Rs. 1,000/- (Rupees One Thousand Only) to have and to hold the said sum of Rs. 1,000/- up to the Trust forever to the use upon the Trusts and subject to the powers, provisions, agreements and declarations hereinafter appearing, declared and contained of and concerning the same.

AND THIS INDENTURE FURTHER WITNESSETH that for the purposes mentioned herein and in consideration of premises, the Trustees do hereby declare that they the Trustees shall henceforth hold and stand possessed of the said sum of Rs. 1,000/- (Rupees One Thousand Only) and the investment of any kind whatsoever into which the same or any part or parts thereof may be converted or varied from time to time and such further cash, shares, securities and properties movable and immovable or whatsoever nature or kind as may hereafter be acquired by the Trustees or come to their hands by virtue of these presents or by operation of law or otherwise howsoever in relation to these Trusts hereinafter called “THE TRUST PROPERTY”, upon the Trusts and subject to the powers, provisions, agreements and declarations hereinafter declared and contained of and concerning the same that is to say :-

1. The aforesaid Charitable Trust shall be called and be known as Seth G.S.M. College and K.E.M. Hospital Department Development Fund and is herein referred to as “The said Trust” or “The Trust”, and shall have its office Seth G.S.Medical College, K.E.M. Hospital Parel, Mumbai -400012 or at any other place as the Trustees may decide.
2. The Trustees shall invest the said sum of Rs. 1,000/- (Rupees One Thousand Only) in the manner permitted by Bombay Public Trusts Act, 1950 or any other law governing Charitable Trusts for the time being in force.
3. It shall be lawful for the Trustees to invite and accept donations, subscriptions, contributions, gifts, devises, legacies or otherwise either in cash or property movable or immovable or in any form whatsoever from individuals, institutions, companies, firms, associations or any other body corporate and the cash, securities or properties so received from time to time shall be held by the Trustees upon the same Trusts and subject to the same conditions, stipulations, powers and provisions as are contained in these presents with liberty to the Trustees to accept any such donations, subscriptions, contributions, gifts, devises, legacies upon any special condition consistent with the Trust herein declared and not restricting the benefits thereof to any particular religious community, caste or creed.
4. The Trustees shall manage, collect, recover and receive the rents, interests, dividends income and profits of the trust property shall accrue, due and be payable from time to time and shall in the first instance pay or reimburse themselves thereout all costs, charges and expenses properly incurred on for such collection and receipt and thereafter in case the Trust property or any part thereof shall consist of immovable property pay thereout all Municipal and other rates, taxes and other outgoings in respect of such immovable property and thereafter set aside every year out of the balance then remaining of rents, income and profits a sum equal to 6% of such balance and credit the same to an account to be called the “Sinking Fund Account” and shall hold and stand possessed of the balance of the said rents, interest, dividends, income and profits thereafter remaining (herein called “the net income”) upon the Trusts and for the purpose herein mentioned.
5. The Trustee shall use and apply the net income of the Trust property or such part of the Corpus of Trust Property as they may in their absolute discretion think fit, for any of the charitable objects and purposes hereinafter mentioned without reference to religion, community, caste, sex or creed as the Trustees may in their absolute discretion think fit and proper to aid and support growth of scientific research in and development and efficient running of various departments and activities of the K.E.M.Hospital, Parel, Mumbai, run by the Municipal Corporation of Greater Mumbai, and Seth G.S.Medical College affiliated to it.

In furtherance of the above objects the Trust shall undertake and participate in various activities of the K.E.M.Hospital and / Seth G.S.Medical College, and incur/meet expenses of the nature shown below:

• Financing research enquiries.
• Purchase of instruments, chemicals, periodicals, books and such other supporting material as may be required by various departments. Instrument, equipments, chemicals, periodicals, books and such other supporting material may be donated to the user departments, of Seth G. S. Medical College and K.E.M.Hospital run by Municipal Corporation of Greater Mumbai, or Seth G.S.Medical College and KEM Hospital or kept on the books of the Trust.
• Expenses of repairs to various fixtures & equipment of the KEM Hospital / Seth G. S. Medical College considered necessary.
• Salaries, allowances & stipends of the persons employed by the trust to conduct such research and for development of the departments and meeting other objectives of trust.
• To print, publish and / or circulate, or aid in printing publishing or circulating books, papers, periodicals and circulars for the promotion or stimulation of medical research or dissemination of its results.
• Cost of publications and reprints of articles and other expenses for academic and scientific purposes.
• Supporting travel expenses in part of full, of staff employed in K.E.M.Hospital& Seth G.S.MedicalCollege for attendance at various medical, scientific and /or academic conferences, workshops, seminars, updates, meets, or sessions or training course.
• Expenses of Medical conferences, seminars, discussions or similar activities organized under the auspices of the trust.
• To establish patient care facilities in K.E.M.Hospital with up-to-date and modern equipments and instruments and to attend to and take care of the patients.
• To establish, maintain and support libraries, museums and reading rooms in K.E.M. Hospital/ Seth G.S.Medical College for advancement of education and knowledge.
• To establish and /or open training center for imparting practical training to the graduate and post-graduate students in medicine of Seth G.S.Medical College.
• Awarding Scholarship to the students of Seth G.S.Medical College and staff of K.E.M.Hospital or Seth G.S.Medical College on such terms and conditions as the Trustees may think fit for the purpose of undertaking, pursuing and /or encouraging higher education and research work in any branch of medicine or any other branch or branches of modern applied science in its widest and more comprehensive sense.
• To promote research for conducting systematic investigation into the problems of medicine, surgery and in the field of health and applied science.
• Any such other expenses deemed necessary for furtherance of the above objects.

AND IT IS FURTHER DECLARED AND PROVIDED THAT the income or assets of the Trust shall not be transferred or used for any purpose other than that are mentioned above and for which maximum deductions are not permissible under taxation laws for the time being in force at the time of such transfer or use.

6. The Income of the Fund aforesaid shall be applicable at the discretion of the Trustees for meeting the expenses of extraordinary repairs, to any buildings forming part of the Trust property or for altering, improving or rebuilding the same and also in recouping to the Trust property any loss or estimated loss arising from sale of or depreciation of any of the investments (provided such depreciation is in the opinion of the Trustees of a permanent character). If in any year the income of the Trust Fund shall not be required for any of the purposes aforesaid, it may at the discretion of the Trustees be added to the capital of the Trust Fund or to the Trust property so as to form part of the Trust property and the same shall be invested in the manner herein provided.

7. The Trustees shall be at liberty to sell the Trust property or any part thereof and invest the sale proceeds or other realisation or any other moneys requiring investments, in any of the investments in which the Trustees may for the time being be authorised by law to invest the Trust funds and the Trustees shall have the power to vary and transfer the same from time to time into or for others of the same or like nature PROVIDED HOWEVER that the trustees shall if possible retain the Trust property in the investments in which the same might be invested at the time of receipt thereof.

8. Subject to the provisions of the laws for the time being in force, the Trustees shall be entitled to invest the Trust property in acquiring by purchases or on lease or otherwise any immovable properties of any nature in the Union of India and in case of vacant land the Trustees shall be at liberty to erect building thereon out of the Trust Property.

9. The Trustees shall have the power to alter, vary or transfer the investment from time to time forming part of time to time forming part of the Trust property in such manner as they may think proper in their absolute discretion into or for others of the nature hereinbefore mentioned without being responsible or accountable for any loss or diminution arising therefrom.

10. Amongst the Trustees the Dean shall be appointed as Managing Trustee.

11. Seven Trustees to be appointed hereinafter under this scheme shall be adults, male or female, belonging to any community and shall be working in K.E.M. Hospital and/or Seth G.S. Medical College. A Trustee shall cease to be a Trustee on the expiry of the period of six months from the day he ceases to be a person working in K.E.M. Hospital and /or Seth G.S. Medical College.

12. Any vacancy occurring due to (a) death (b) resignation or (c) ceasing to be Trustee on retirement will be filled in by the remaining trustees by selecting suitable person from among the staff of K.E.M.Hospital and Seth G.S.Medical College.

13.Chairman:

• The Dean of the K.E.M. Hospital & Seth G.S Medical College shall always be the Managing Trustee of the Trust and shall always be the Chairman or Chairperson in the meeting of Board of Trustees.
• In case of death or retirement of the Chairman during the office, the person appointed as Dean shall be the New Chairman in his place.
• The Chairman shall preside at the meeting of the Board of Trustees. The Chairman has right to exercise his casting vote in case of equal voting on any resolution on both sides in the meeting.
• In absence of the Chairman at any meeting, the Trustees present shall appoint one from amongst themselves to be the Chairman of that particular meeting.

14. The Trustees shall be at liberty, subject to the preceding clauses, to keep any money or securities forming part of the Trust property in any Bank in the name of the Trust and shall authorize Chairman, Secretary and Treasurer to operate upon the said banking account on any two or survivors basis and to draw, sign and endorse cheques and other negotiable instruments and to withdraw any Trust moneys or securities deposited with any bank. There shall be no liability on the other Trustees to examine the said account or to be in any way responsible for the acts, deeds or defaults of such Trustees or trustee in connection with such accounts.
15. For the accomplishment of the Trust of these presents and without prejudice to the generality of any power hereby or by law conferred or implied or vested in the trustees following powers and authorities are hereby expressly conferred on the Trustees, that is to say: –

• To sell, exchange, surrender, give up, mortgage, charge, pledge, demise or dispose of any property, movable and immovable, for the time being subject to any of the Trusts of these presents and upon any such exchange to give or receive any moneys for quality of exchange.
• To grant leases for such period and on such rent and on such terms and conditions (including an option to the lessees to purchase) as they think fit and to accept surrender of any lease. AND IT IS HEREBY DECLARED that any premia or fine or such grant or surrender of lease shall be treated as income or as capital or partly as income and partly as capital as the trustees may think fit.
• To purchase, construct or hire or take on lease any immovable or movable property for all or any of the purposes of the said trusts at such rent and on such terms and conditions and for such period and with and without option for renewal as the Trustees may think fit.
• To appoint and dismiss and re-appoint, employ servants, clerks, care-takers, Accountant and other on such salary and on such terms as they may think fit.
• To delegate by power of Attorney or otherwise to any Trustee or Trustees or other persons whomsoever any powers implied by law or conferred by statute or vested in the Trustees by these presents but the Trustees shall not be held liable or responsible for the acts and defaults of such persons.
• To accept, donations of moneys and shares, debentures, bonds, securities, business and other property, movable or immovable, on such terms and conditions as the Trustees may think fit not being inconsistent with these presents of the Trust hereby established and all such donations shall be held by the trustees as accretion to and augmentation of the Trust Fund and shall be subject to the same Trusts, powers and provisions as are contained in these presents and applicable then to as if such money or property had formed part of the original Trust Fund.

No donation however will be accepted with a condition requiring change in the name of the charity referred to in clause 1 above.

• To act according to the decision of the majority when the Trustees are not unanimous.
• The Trustees shall have full power to compromise or compound all actions, suits and other proceedings and all differences or demands and refer any such differences or demands to arbitration and to adjust, settle and approve all documents relating to the Trust Fund and to execute releases thereto as fully as if they were absolutely entitled to the Trust Fund and without being answerable for any loss occasioned thereby.
• The Trustees may from among themselves appoint (i) a Secretary, (ii) a Jt. Secretary and (iii) a Treasurer who shall carry out such work under the directions, supervision and guidance of the chairman or the managing Trustee as the Trustees may from time to time assign or entrust to them.
• The Trustees may, if necessary, rent or hire a place for their office for holding meetings of the trustees and transacting the business of the Trust and furnish with necessary furniture at the cost and expenses of the Trust Fund.
• Instead of themselves spending any sum for any purpose authorised by these presents or by law or statute the Trustees may pay any sum for the purpose of such expenditure to the Treasurer or Secretary or other official of any institution without being bound to look after the application thereof and the receipt of any such Treasurer, Secretary or official shall be complete discharge to the Trustees for such payment and from seeing to the application thereof.
• To decide all question arising in the administration of trusts thereof and including all questions relating to the interpretation of these presents or otherwise concerning or touching these presents or any cause or thing therein contained or touching or concerning anything or matter relating to or connected with or arising out of these presents or the operation thereof. The decision of the Trustees on all or any matters aforesaid shall be final.
• Establishing and supporting professorships, fellowships, lectureships, in Seth G.S.Medical College and awarding scholarships and prizes or giving loans to scholars in Seth G.S.Medical College, in such manner as the Trustees may think fit.
• To reimburse themselves or pay and discharge out of the funds or any property subject to the trusts of these presents and income thereof all expenses that may be incurred in or about the execution of the trusts and powers of these presents, including reasonable amount of traveling expenditure incurred for attending any meeting of the Trustees.

16. a) Trustees may meet together for the dispatch of the business adjourn otherwise regulate their meeting and proceedings as they may think fit.

b)A resolution passed without any meeting of the Trustees and evidenced by writing under the hands of the majority of the Trustees shall be valid and effectual as a Resolution duly passed at a meeting of the Trustees held in accordance with the provisions of these presents.

c)The quorum at a meeting of the Trustees shall be four.

d)Every power, authority or discretion conferred upon the Trustees shall be exercised or signified either by some instruments in writing to be signed by all the Trustees or such of them as may be present in India or by the Resolution of the Trustees or such of them as may be present and voting at any meeting of the Trustees.

e)In case of difference of opinion arising among the Trustees and in all matters wherein the Trustees shall have a discretionary power the decision of majority of Trustees for the time being voting in the matter shall prevail and be binding on the minority as well as on those Trustees who may not have voted and if the Trustees shall be equally divided in opinion the matter shall be decided according to the casting vote of the Chairman. This clause shall also apply to any exercise of the power or authority or discretion of the Trustees by instrument in writing as mentioned in clause above.

f)The Trustees shall keep or cause to be kept a Minute book of their proceedings and proper books of accounts and the accounts shall be audited by professional Auditors appointed by the Trustees from time to time.

17. Any change in any clause of this Deed of Trust can be effected by passing a resolution in a meeting by minimum of two-third majority of the trustees present and observing the necessary procedure prescribed under the provision of the Bombay Public Trust Act, 1950. The notice of such resolution of the intended changes in the provisions of the deed of the Trust be given to all the trustees at least 15 days prior to the date of such meeting.

18.The receipt of the Trustees or Trustee or the Managing Trustee as the case may be for any moneys paid or any stock, funds or securities or other investments transferred to them or him in the execution of the trusts or powers hereof or for the purchase money paid to them or him shall effectually discharge the person or persons so paying or transferring the same therefrom.

19. If the Trustees hereby constituted or any of them or the Trustee or Trustees appointed as hereinafter provided shall die or desire to be discharged or refuse or become incapable to act or is adjudicated insolvent or convicted of a criminal offence involving moral turpitude and punishment with imprisonment exceeding six months or be absent from India for a period Twelve months or more without obtaining leave of the other Trustees in writing or absconding for a period of three months or more without intimating his whereabouts, then the surviving or continuing Trustees or Trustee for the time being may appoint any person or persons in the place of the Trustees or Trustee so dying, desiring to be discharged or refusing or becoming incapable to act or adjudicated insolvent or convicted of a criminal offence and punished with imprisonment as aforesaid or being absent from India as aforesaid or absconding as aforesaid.

20. The Trustees shall be respectively chargeable only for such moneys, stocks, funds securities and other funds of the trust property as they shall respectively actually receive notwithstanding their signing any receipt for the sake of conformity and shall be answerable and accountable only for their own acts, neglects and willful defaults and not for those of each other nor for those of any Bankers, Brokers or other persons in whose hands any trust moneys or securities may be placed for the deficiency of the stocks, funds and securities or otherwise for any involuntary losses unless the same shall happen due to or through their or his own willful defaults.

21. Notwithstanding anything contained hereinabove, so long the Settlor Trustee shall be the Trustee of these presents, the Trustees shall manage the Trust property under the supervision and at the direction of the Settlor Trustee.

22. The Donations/Grants collected by the various departments will be spent in following manner,

1. A fixed proportion of and /or a fixed amount of the collection of each department, as determined by the rules framed by the trustees from time to time, will be transferred to the General Pool & will be used for

i)For meeting administrative expenses of the Trust.

ii) Any other objective of the Trust.

2.The rest of the fund will be kept at the disposal of the particular department for use as per aim and objects of Trust subject to approval and under supervision of the Board of Trustees

23. Any of the existing Trust funds/donations connected with K.E.M. Hospital/Seth G.S. Medical College shall have no statutory connection/relation to this Trust funds and that the Trust Funds shall be totally independent of such existing institutions.

24. The official year of the Trust shall be from 1^st April to 31^st March of the following year

25. The Trust shall be and remain irrevocable for all time.