Karunalaya Trust

(Public Charitable trust - NGO)
Reg. No : 809 / 2010

About Karunalaya

inspirie us always

Power of board of trustees

  • Trustees shall have the power to receive donations so as to augment the trust funds or to treat such donations for the purpose of the trust either towards corpus or other funds eligible to be spent or applied according to the objects of the trust.
  • Trustees shall have the power of invest the funds in best possible manner with a view to augment the resources of the trust to be able to better fulfill the objects of the trust, but the trust will not embark on any business or invest in any speculative venture. Such investments will also not deviate from the requirements of any law relating to public trust or law relating to exemption under section 11 to 13 of the income –tax and other direct tax laws.
  • Trustees will be entitled to accumulate the income for the objects of the trust and to apply the same either out of the funds or the income for purpose of the trust to the extend considered prudent and necessary during the year subjects to ant regulations governing such accumulation under law for the time being in force.
  • Trustees shall open and operate one or more bank accounts as may be authorized by resolution to be operated by the trust. The board will have power to borrow, sign bills of exchange and cheques and authorize for this purpose any two of the trustee or anyone of them along with managing trustees or any other paid employee or nominee to exercise such power on its behalf by a Resolution.
  • Trustees shall have power to sue, defend suits and compromise them in the interest of all trust in the name of the trust.
  • Trustees shall have powers to engage, suspend or dismiss employees, or to take such other action to ensure proper management. It will have all power necessary and incident for management and administration of the trust and its properties.
  • Trustees shall have the power to delegate their duties to any one or themselves or to employees, co- opted trustees and committees.
  • Trustees may invite any employee, expect or well-wisher to attend trust board meeting for advice and participation without right to vote.
  • The funds of the institution should be utilize only towards the objects and no portion of it would be distributed in any manner to the trustee or persons defined in section 13 (1) (C) of the income tax Act, 1961
  • The funds of the institution should be invested as per section 11 (5) or the income tax 1961.
  • Alienation of immovable property shall be done only with prior approved of the Director / Commissioner of income tax (Exemptions).
  • The managing trustees may sue and be sued in the name of the trust.

Address

  • Karunalaya Trust
    91, Sabari Garden, Ellai Nagar,
    Nathagoundan Palayam,
    Erode District - 638 115,
    Tamilnadu, India

Call Us

  • Telephone
    0422 3240691
    0422 4365224

  • Mobile
    91 99407 04176