____________ FAMILY TRUST

DATED ___ DAY OF ____ , _____

Contents
RECITALS ............................................................................................................................................. 2
1. DEFINITIONS AND CONSTRUCTION ................................................................................... 3
2. NAME AND CREATION OF THE TRUST .............................................................................. 4
3. OFFICE OF THE TRUST ........................................................................................................... 4
4. TRUSTEES AND SUCCESSOR TRUSTEES ........................................................................... 4
5. BENEFICIARIES ......................................................................................................................... 4
6. OBJECTS AND APPLICATION OF TRUST FUND ............................................................... 4
7. INITIAL SETTLEMENT AND SUBSEQUENT TRANSFER ................................................ 5
8. POWERS OF THE SETTLOR ................................................................................................... 6
9. RIGHTS AND POWERS OF BENEFICIARIES ...................................................................... 6
10. FIDUCIARY POWERS OF THE TRUSTEES...................................................................... 6
11. ADMINISTRATIVE POWERS OF THE TRUSTEES......................................................... 7
12. MEETINGS AND DECISION MAKING OF TRUSTEES .................................................. 8
13. POWER TO OPEN AND OPERATE ACCOUNTS ............................................................. 9
14. APPOINTMENT, REMOVAL AND RETIREMENT OF TRUSTEES.............................. 9
15. LIABILITY FOR BREACH OF TRUST ............................................................................... 9
16. RIGHT TO REIMBURSEMENT OF EXPENSES ............................................................. 10
17. TRUSTEE FEES ..................................................................................................................... 11
18. TRUST RECORDS AND ACCOUNTS ................................................................................ 11
19. DISTRIBUTION TO THE BENEFICARIES ...................................................................... 11
20. MODE AND MANNER OF DISTRIBUTION..................................................................... 11
21. EXCLUSION OF COMMUNITY PROPERTY RULES, FREE FROM MARITAL
CLAIMS, FREE FROM CREDITOR CLAIMS ............................................................................. 12
22. AMENDMENT ....................................................................................................................... 12
23. TERM OF THE TRUST ........................................................................................................ 12
24. PROPER LAW AND FORUM FOR ADMINISTRATION ............................................... 12
25. MISCELLANEOUS ............................................................................................................... 12
26. IRREVOCABLE TRUST....................................................................................................... 13
SIGNATURE CLAUSE...................................................................................................................... 13
 IRREVOCABLE TRUST DEED FOR
“ FAMILY TRUST”

This Trust Deed is made on this 20th day of April, 2019

BETWEEN:
1. Mr/ Mrs. ____________ Son/Daughter/wife of Mr. ________, born on __________,
residing at _______________ – (PIN) (State) PAN: ____________ (hereinafter referred to
as the “Settlor”).
AND
1. Mr/ Mrs. ____________ Son/Daughter/wife of Mr. ________, born on __________,
residing at _______________ – (PIN) (State) PAN: ____________ (hereinafter referred to
as “Managing Trustee” which expression shall unless repugnant to the context or meaning
thereof be deemed to include the successors in interest and assigns),

2. Mr/ Mrs. ____________ Son/Daughter/wife of Mr. ________, born on __________,

residing at _______________ – (PIN) (State) PAN: ____________ (hereinafter referred to
as “Advisory Trustee” which expression shall unless repugnant to the context or meaning
thereof be deemed to include the successors in interest and assigns).

Trustee 1, Trustee 2 shall jointly be referred to as the “Trustees”.

The Settlor and the Trustees shall jointly be referred to as “Parties” and severally as a “Party”.

RECITALS
A. Whereas a trust is an obligation annexed to the ownership of assets and arising out of a
confidence reposed in and accepted by the Settlor, or declared and accepted by him, for the
benefit of another, or of another and the Settlor.

B. And Whereas the Settlor has decided to establish a trust being “________ Family Trust”
(hereinafter referred to as the “Trust”) under the provisions of Indian Trusts Act, 1882 with
the sole object of benefiting the Beneficiaries defined under Clause 5 below.

C. And Whereas the Trustees have decided to act as and in the capacity of Trustees of the
Trust, in accordance with the terms and conditions hereinafter contained and as agreed to
by the Settlor as is testified by the execution of this instrument (hereinafter referred to as
the “Trust Deed” or the “Deed”).

D. And Whereas the Settlor is possessed with a sum of Rs. _______ /- (Rupees ____________
Only) and has transferred to the Trustees the initial settlement amount (forming a part of
‘the Trust Fund’) to be held upon and by the Trustees for the benefit of the Beneficiaries,
with and subject to the trusts, powers and provisions contained herein (as defined herein
below) vide Cheque No. __________ for Rs. _________/- (Rupees ___________ Only)
drawn on ______Bank, ______Branch in favour of “___________Family Trust” by Mr/
Mrs. ____________(Settlor).

E. And Whereas it is hereby clarified that the Trustees can further receive gifts and donations
from time to time, into the Trust, which shall form a part of the Trust Fund (as defined
herein below) and be subject to the trusts, powers and provisions contained in this Deed.

F. And Whereas it is intended that this Trust and all the subsequent transfers and gifts made
by the Settlor herein shall be irrevocable.

NOW THIS DEED OF TRUST WITNESSETH that in consideration of the premises and in order
to effectuate the said desire of the Settlor and for diverse other good causes and considerations,
the Settlor hereby transfers and shall be deemed to have conveyed, transferred and assigned unto
the Trustees the said amount of Rs. __________/- (Rupees __________Only) to have and to hold
the said sum, unto the Trustees with and subject to the powers, provisions, agreements and
declarations hereinafter declared.

1. DEFINITIONS AND CONSTRUCTION

In this Deed, where the context so admits:
1.1. “Beneficiaries” shall mean the persons defined under Clause 5.
1.2. “Letter of Wishes” shall mean a document by which the Settlor shall share his thoughts, on
as and when required basis, with the Trustees for the operation of this Trust. The Settlor’s
Letter of Wishes shall guide the Trustees in all matters relating to this Trust. The Letter of
Wishes shall be kept confidential by the Trustees as a part of their fiduciary responsibility.
1.3. “Minor” shall mean any person who has not attained the age of eighteen (18) years.
1.4. “Trust Fund” shall mean the Trust Corpus/Capital and the Trust Income.
1.4.1. Trust Corpus or Capital shall include the initial settlement amount of the Trust
and such further moneys, shares of companies, immovable and movable properties
and voluntary contributions or donations, including investments as may during the
continuance of the Trust hereby created be added thereto by the Settlor or any other
person; contributions or gifts or donations received from any other person or
persons from time to time; all accumulations of income; any accretion to the Trust
Fund and or any income generated out of the Trust Fund or property which is
accumulated and added to the Trust Fund in accordance with the provisions of this
Trust; receipts on sale of Trust Fund.
1.4.2. Trust Income or Income means income earned upon and from Trust Corpus or
Capital which may include but is not limited to dividend, interest, profits, rental
income, income from capital gain, income from business and income from any other
sources.
1.5. “Trust Period” shall mean the period beginning with the date of this Trust Deed and ending
as expressly mentioned in Clause 23 of this Deed.
1.6. In this Deed, unless the context otherwise requires:
1.6.1. this Deed shall be interpreted under the laws of India and the provisions of The Indian
Trusts Act, 1882 shall be binding in respect of the Trust created by this Deed;
1.6.2. the singular shall include the plural and the masculine shall include the feminine
and vice versa;
1.6.3. reference to the word “include” shall be construed without limitation;
1.6.4. references in this Deed to statutory provisions shall be construed as references to
those provisions as modified or re-enacted from time to time (whether before or after
the date of this Deed) and to any subordinate legislation made under such provisions
and shall include references to any repealed statutory provision which has been so re-
enacted (whether with or without modification);
1.6.5. references to Clauses and Parties herein are references to the clauses of, and parties
to this Deed;
1.6.6. any word or phrase defined in the body of this Deed as opposed to being defined in
this Clause 1 shall have the meaning assigned to it in such definition throughout this
Deed, unless the contrary is expressly stated or the contrary clearly appears from the
context;
1.6.7. if any provision in this Clause 1 is a substantive provision conferring rights or
imposing obligations on any Party, effect shall be given to it as if it were a substantive
provision in the body of this Deed; and
1.6.8. any change effected in any detail provided herein by any one or more Parties shall be
intimated to all the other Parties vide notice or any other form of written
communication;
1.6.9. Clause headings are included for reference only and do not affect the interpretation
of this Deed.
 1.6.10. any minor beneficiary herein shall be represented by his/her legal guardian, and the
legal guardian shall have the rights, powers and duties to represent the minor
beneficiary, unless the contrary is expressly stated or the contrary clearly appears from
the context.

2. NAME AND CREATION OF THE TRUST

2.1. By this Deed the Settlor hereby establishes the Trust referred to as “____________- Family
Trust” (hereinafter referred to as the “Trust”) under The Indian Trusts Act, 1882 for the
benefit of the Beneficiaries more specifically provided in Clause 5. The Settlor hereby
conveys the initial settlement amount to the Trust and the Trustees hereby admit,
acknowledge and declare that the Trust Fund shall be held by the Trustees upon the Trust
for the objects and with the powers and subject to the rights, duties and obligations
specified in this Deed.

3. OFFICE OF THE TRUST

3.1. The office of the Trust shall be at _______________________- (State), India or such other
address as decided by the Trustees.

4. TRUSTEES AND SUCCESSOR TRUSTEES

4.1. The Settlor hereby appoints Mr./Mrs. _____________and Mr./Mrs. _____________as the
Trustees of the Trust hereby created and the appointed Trustees hereby agree and declare that
they are willing to act and shall act as Trustees hereunder.

4.2. A Successor Trustee(s) shall be appointed as per the provisions of Clause 14.

4.3. References to the Trustees shall include a Successor Trustee or Trustees. Unless this Deed
specifically provides otherwise, a Successor Trustee or Trustees shall succeed to all of the
title, powers and obligations of the discharged Trustees.

4.4. A Successor Trustee is not obligated to accept, ratify or approve any acts, omissions, or
defaults of the discharged Trustee(s) nor is he/she required to audit or verify the records of
the discharged Trustee(s). The fact that a Successor Trustee assumes and carries out its duties
without protest or exception shall not be considered an acceptance, ratification or approval
of the preceding Trustees’ actions.

4.5. The Successor Trustees shall not be responsible or liable to any person for any property of
the Trust Fund, until it obtains possession of the Trust Fund.

5. BENEFICIARIES
5.1. The Beneficiaries to this Trust shall be:
5.1.1. ______________, born on _______ residing at ______________________(State)
PAN No.: __________.
5.1.2. Blood relatives of ___________________ appointed by the Settlor through Letter of
Wishes and delivered to the Trustees and acknowledged by them.

5.2. The benefits shall be distributed to the Beneficiaries as per Clauses 19 and 20 herein below.

6. OBJECTS AND APPLICATION OF TRUST FUND

6.1. The Trust Fund shall be applied directly or indirectly for any of the object as set out herein.
Trustees shall administer the Trust and deploy the Trust Funds and accretions thereto as
may be specifically provided under the relevant provisions of this Deed. The Trustees shall
have the complete care and maintenance of the Beneficiaries including but not limited to:

6.1.1. Support and Maintenance: Support and maintenance encompass more than bare
necessities. These terms include the Beneficiary's/Beneficiaries’ normal living
expenses, such as housing, clothing, food and medical care, according to the
 Beneficiary's/Beneficiaries’ customary standard of living
6.1.2. Health: The term health includes all routine medical care, medication, surgery, and
hospitalization, as well as nursing care, mental health expenses as also expenses for
treatment of ailments not universally accepted as medical problems, such as
addictions or psychological problems.
6.1.3. Education: The Trustees shall make distributions for education expenses of the
Beneficiary(ies) including school, college, university education, higher learning,
vocational or non-vocational course that any of the Beneficiary (ies) desire to pursue
in any city or country offered by any prestigious school, college, university,
institution, training or development centre, etc. The expenses shall also include the
expenses of living in such city or country, such as the rents payable, normal costs of
living, etc. apart from the fees for the education and training.
6.1.4. Marriage expenses: The Trustees shall provide for the marriage expenses of the
Beneficiary (ies).
6.1.5. Best Interests: The Trustees shall make distributions allowing the Beneficiary(ies) to
enjoy a high standard of living, covering travel, automobile, jewellery, etc.
6.1.6. Starting a business or acquiring properties: The Trustees shall provide Trust Funds
to the Beneficiary (ies) for establishing a business or profession and for acquisition
of real property.
6.1.7. Emergency: The term emergency shall be determined to be an ascertainable standard
pertaining to unusual and unforeseen expenses such as financial emergencies or those
related to health or maintenance.
6.1.8. For payment of premium or costs of any policy of insurance for the benefit of
Beneficiary (ies).
6.1.9. For any other purpose that will, in the sole discretion of the Trustees, further the best
interest of any Beneficiary (ies).The Trustees are authorized to provide for the finest
available support and health care for the Beneficiary (ies). The Trustees shall not
consider the other resources or wealth of the Beneficiary (ies) while applying the
Trust Fund for their benefit.

6.2. In the event, the Trustees decide to dissolve the Trust as per Clause 23, they can make direct
distribution of the Trust Fund to the Beneficiaries without apportionment of any part of or
the whole of Trust Fund for any specific expenses for the Beneficiaries or objects as stated
in Clause 6.1. These right needs to be exercised judicially and when the Trustees deem fit
that dissolution shall be in the best interest of the Beneficiaries.

7. INITIAL SETTLEMENT AND SUBSEQUENT TRANSFER

7.1. The Trust Fund shall include the initial settlement amount, Trust Corpus and Trust Income
along with subsequent transfers, gifts, accretions, acquisitions, assignments, income from
investments and any other sources, rental income, proceeds of insurance policies, etc.,
received and earned by the Trust.

7.2. Subsequent transfer of property to the Trust may be made and evidenced by gift deeds,
donation receipts, written assignments, bills of sale, exercise of powers of attorney, deeds
or similar documents evidencing the transfer of ownership to the Trust or the designation
of the Trust as the Transferee.

7.3. Income earned from the Trust Fund shall be retained in the Trust to be used for meeting
the objects of the Trust. When making disbursements for Beneficiaries’ benefit, Trustees
shall keep adequate records to show whether the distribution has been made from Trust
Income or from the Trust Corpus.

7.4. The Trust shall be the legal and fiduciary owner of the Trust Fund held by the Trustees for
and on behalf of the Beneficiaries.

7.5. Upon settlement of the Trust Fund in Trust, the Settlor shall be deemed to have irrevocably
relinquished his right, title and interest in the Trust Fund, which shall, from the date of such
settlement onward, always remain the legal property of the Trust, held by the Trustees
solely for and on behalf of the Beneficiaries.
8. POWERS OF THE SETTLOR
8.1. The Settlor shall have the power to issue written instructions at the time of each settlement
or otherwise through a notarized Letter of Wishes, for stating the purpose for the use of assets,
for execution of the objects of the Trust or to implement the terms of the Trust Deed or to
clarify on any ambiguity that may arise, and this shall be delivered to the Trustees and it shall
be duly acknowledged by the Trustees.

9. RIGHTS AND POWERS OF BENEFICIARIES

9.1. The Beneficiaries shall be entitled to the rights set out in Chapter VI of the Indian Trusts Act,
1882 or any statutory re-enactment or amendment thereof in addition to the rights and powers
given to the Beneficiaries under this Trust Deed.

10. FIDUCIARY POWERS OF THE TRUSTEES

The Trustees shall have the power to apply or invest the money to be invested under the
Trusts hereof as provided below:

10.1. Any monies requiring investment may be invested in or upon any business like trading,
selling, manufacturing, acquiring stake or any other investment of whatever nature and
wherever situate whether producing income or not, including the purchase of any
immovable or movable property or any interest in such property and including purchases
made for the interest of Beneficiaries.

10.2. The Trustees shall utilize the income of the said Trust Fund in acquiring or setting up or
carrying on or running any factories or in acquiring or setting up or carrying on either in
its sole capacity or through partnership, the business of buyers, sellers, agents, dealers,
exporters and importers of any goods or merchandise whatsoever or any other business or
businesses whether manufacturing, trading, agency, service or otherwise, investing in any
start-ups, private equity funds, other financial assets and to appoint any one or more of the
Trustees as the partners, representatives or nominees for and on behalf of the Trust to carry
out or implement any such arrangement as the case may be.

10.3. The Trustees may carry on any business either by themselves or in partnership or otherwise
and close and restart any business and utilize the profits derived therefrom for the objects
aforesaid.

10.4. The Trustees shall be entitled to invest all moneys liable and authorized in any one or more
of the following:
10.4.1. in any of the modes of investments authorized by the Indian Trust Act;
10.4.2. in movable properties including shares, debentures, bonds or securities of any
private or public limited companies or mutual funds of any institution;
10.4.3. as deposits (current, saving, fixed or any other) with banks, society, institution,
companies;
10.4.4. in the purchase of any immovable property, whether freehold or leasehold;

10.5. The Trustees may purchase immovable properties or acquire on lease immovable
properties for use, enjoyment and benefit of the Beneficiaries.

10.6. If the Trust Fund includes any immovable property, (i) to let out any such property or any
part thereof at reasonable rents and on such terms as they may think fit, (ii) to carry out
repairs, renovations, alterations and development thereto as and when required, as they
think fit.

10.7. The Trustees may construct any structure on any land forming part of the Trust Fund, or
insure any immovable properties against loss by fire, lightning or civil commotion or other
risks or losses or against loss of rents as they may think proper from time to time but no
liability shall attach on the Trustees or any of them by reason of any property remaining
uninsured in any way. The Trustees may use the income and interest of the Trust Fund
 from time to time for rebuilding or reinstating immovable properties or erecting new
buildings.

10.8. The Trustees may borrow monies and raise loans and funds required for any purpose,
power or provision, either directly or indirectly, connected to the objects of this Trust or
for any object incidental to these presents.

10.9. In consideration of any lender granting loan and as security for the same, the Trustees shall
create security in favour of the lender over any portion of the Trust Fund.

10.10. The Trustees may appoint any manager or managers, officers, clerks or caretakers on such
terms as they may determine, for any immovable or movable property subject to the
provisions of this Trust Deed and to pay them salary, wages, emoluments, fees,
remuneration, etc.

10.11. The powers of investments conferred on the Trustees by this Deed are absolute and shall
not be deemed to be curtailed, restricted or otherwise limited under any provision of the
Indian Trusts Act, 1882.

11. ADMINISTRATIVE POWERS OF THE TRUSTEES

11.1. The deployment of the Trust Fund and any accretions thereto and the administration and
operations of the Trust shall be conducted in a manner that is reflective of the objects of
the Trust read along with the Letter of Wishes of the Settlor. All the acts of the Trustees
shall be in the furtherance of the objects of the Trust.

11.2. To accept any gift, donation or contribution in cash or in kind from any person for the
objects and purpose of the Trust.

11.3. The Trustees shall ensure that the investments made by the Trust and any returns or income
or profit generated by the Trust from the investment made or otherwise are segregated from
other assets of the Trustees, if any.

11.4. The Trustees shall manage and administer the Trust like filing of tax return, handling
statutory or regulatory or voluntary assessment, conducting audit of the Trust, conducting
meetings, signing in the capacity of Trustees for the investments made or for the purposes
aforementioned, etc. in accordance with the provisions of this Trust Deed and applicable
laws of India.

11.5. The investment of the Trust Fund or the interest or income thereof or any part thereof shall
always be kept in the name of the Trust.

11.6. The Trustees shall have the power to appoint the auditor/firm of auditors for the Trust and
conduct the annual audit of the Trust. The Trustees shall decide the remuneration of such
auditor/firm of auditors.

11.7. The Trustees shall have power and be entitled to commence, initiate, prosecute or defend
any suit, action or proceedings in any court or tribunal, civil, criminal or revenue or before
any Government department or any public body concerning or touching any matter relating
to the Trust Fund and to appoint pleaders, attorneys or advocates in that behalf and pay and
allow all fees, costs and expenses necessary to be paid or allowed in the premises and to
sign, execute, present and file all application, plaints, petition, written statement,
vakalatnamas, warrants of attorney, affidavits, memorandum of appeal and other
documents of any description whatsoever necessary in such suits or proceedings and
generally representing the said Trust and the Trust Fund without being responsible for any
loss occasioned thereby.

11.8. The Trustees shall be entitled to compromise, compound, abandon, submit to litigation, or
otherwise settle any debt, account, claim, suits, proceedings or disputes whatsoever relating
to the Trust Fund or any part thereof.
11.9. The Trustees shall have the power to nominate, constitute and appoint constituted attorneys
or employ agents (including any bank, society, institution) and delegate to such attorneys
or agents powers with regard to the management and all matters and affairs relating thereto
or for transacting any business or doing any act in relation to the Trustof these presents
including conducting, appearing in or defending any cause of action on behalf of the Trust
before any civil, criminal, revenue, tax or other authorities, courts, officers and tribunals
without being responsible for the default of such agent or without being liable for loss and
shall be entitled to be allowed and paid all charges incurred thereby.

11.10. The Trustees shall have the power to frame rules and regulations to conduct meetings and
for carrying out the objects and purposes of these presents and otherwise for giving effect
to the objects and purposes hereof and to vary, alter, add to or modify the same from time
to time as the Trustees may deem fit and proper.

11.11. The Trustees shall be indemnified from the Trust Fund with respect to any act or omission
at issue against any liability or expenses of litigation, including, without limitation,
attorney’s fees and costs, to the extent that such act or omission is not adjudicated or finally
determined by a non-appealable court order to be due to the Trustee’s gross negligence,
wilful misconduct or bad faith.

11.12. Power to transfer to other Trusts: The Trustees shall have power from time to time, before
the termination of the Trust, to transfer the whole or any part of the Trust Fund into the
name or under the legal control of another Trust (the “Transferee Trust”) in any part of the
world and governed as its proper law so that on such transfer, the property so transferred
shall be held on the trusts with and subject to powers and provisions declared and contained
in the Transferee Trust whereof the same is transferred, freed and discharged from all the
trusts, powers and provisions of this Trust, provided that:
11.12.1. No such transfer shall infringe the rule against perpetuity.
11.12.2. No such transfer shall be made unless the Trustees (whose decision shall be final
and binding on all the persons beneficially interested hereunder) are satisfied that
the Transferee Trust is such that the Transferee Trust will be for the benefit of all
the Beneficiaries of this Trust including any Beneficiaries who are capable of
taking any benefit under this Trust.
11.12.3. The subject matter of the transfer to the Transferee Trust is property which is
capable of being transferred.
11.12.4. No such transfer shall invalidate any prior payment or application of the Trust
Fund or the income thereof or of any part or parts thereof respectively.
11.12.5. No such transfer shall be in contravention of the Letter of Wishes of the Settlor
and the Letter of Wishes shall be binding on the Transferee Trust.
11.12.6. No such transfer shall take effect, upon the demise of the Settlor, without the
consent of all the Beneficiaries.

12. MEETINGS AND DECISION MAKING OF TRUSTEES

12.1. The Trustees should meet at least twice in every calendar year and may meet more often
when required.

12.2. The Managing Trustee shall be the Chairman and shall preside over the meetings.

12.3. Any one Trustee may convene a meeting of the Trustees. At least five (5) clear day written
notice, by SMS or other digital communication mode, shall be given to the other Trustee
or Trustees as to the place, hour and day of the meeting and of the nature of the business
to be transacted thereat.

12.4. All the Trustees shall be present for the meetings of the Trust. Any one or more of the
Trustees may participate in a meeting by means of conference telephone, videoconference,
or other communications equipment as long as all persons participating in the meeting can
hear each other at the same time. Participation by such means shall be deemed presence in
person at the meeting.

12.5. Decisions regarding any business transacted at the meeting of the Trustees shall be
recorded by passing a written resolution to that effect. The resolution shall be signed by all
 the Trustees present in India. In the event, any Trustee is not present in India, his approval
or dissention to such resolution shall be accepted vide an email, the print whereof shall be
preserved for the purposes of record.

12.6. The Trustees shall have power from time to time to make rules and bye-laws relating to
their meetings, conduct of the business and the management of the Trust Fund and from
time to time carry out, alter or add to such rules or bye-laws provided however that such
rules or bye-laws are not inconsistent with the terms of these presents.

12.7. Any Trustee may, after the demise of the Settlor and with the permission of majority of
Trustees, invite the Beneficiaries of the Trust to attend such meeting, but they shall not be
entitled to vote.

13. POWER TO OPEN AND OPERATE ACCOUNTS

13.1. The Trustees shall have the power to open, operate and close bank accounts for the Trust
Fund in the name of the Trust with any bank, society or institution as they may deem fit
and proper and to endorse cheques and other negotiable instruments and to give effective
receipts and releases for receipt of money.

13.2. The Trustees shall have the power to open, operate and close demat and trading accounts
in the name of the Trust or the Trustees (s).

13.3. The bank and demat accounts, deposits and any other similar accounts shall be dealt with
and operated by the Trustees designated as the authorised signatory (ies) in accordance
with the resolution passed by all the Trustees.

14. APPOINTMENT, REMOVAL AND RETIREMENT OF TRUSTEES

14.1. Upon the formation of the Trust, the Trustees mentioned herein namely Mr./Mrs.
_____________ and Mr./Mrs. _____________, shall be the initial Trustees.
14.2. A Trustee ceases to be a Trustee upon demise, incapacitation, resignation, removal or is
declared insolvent.
14.3. The Trustees may resign at any time by delivering thirty (30) days written notice of its
intent to resign to other Trustees.
14.4. Upon the demise, incapacitation or resignation of any of the current Trustee, the Successor
Trustees shall be appointed by the continuing Trustees within thirty (30) days from date of
the vacancy or receipt of notice of resignation, whichever applicable.
14.5. Upon the demise, incapacitation or resignation of the current Managing Trustee, the
successor Managing Trustee shall be chosen by the Trustees from amongst themselves by
majority vote.
14.6. Any decision taken by the Trustees shall be effected only when it is agreed by the majority
of the Trustees.
14.7. The Trust shall be governed by at least two (2) Trustees at all times, excluding the time
when the office of the Trustee is vacant, for whatsoever reason, and a new Trustee is in the
process of being appointed.
14.8. An outgoing Trustee shall, subject to being provided with reasonable security for liabilities
(existing, future, contingent or otherwise) execute and do or cause to be done all such
transfers or other acts as may be necessary for vesting the Trust Fund in the new Trustees.

15. LIABILITY FOR BREACH OF TRUST

15.1. Where any Trustee commits a breach of trust, such Trustee is liable to make good the loss
which the Trust Fund or any Beneficiary has thereby sustained, unless any Beneficiary has
by fraud induced the Trustee to commit the breach, or the Beneficiary, being competent to
contract, has himself/herself, without coercion or undue influence having been brought to
bear on him, concurred in the breach, or subsequently acquiesced therein, with full
knowledge of the facts of the case and of his/her rights as against the Trustee.
15.2. The Trustees shall not be liable for any reasonable acts undertaken by the Trustees in
accordance with the Trust Deed with due care and caution, bonafide and with due diligence
expected by the Trustees. All acts done by the Trustees in accordance with the provisions of
this Trust Deed and the provisions of the law will be binding on all the Parties and the
Beneficiaries.

15.3. The Trustees shall not be held liable for all acts and deeds of the Settlor prior to the formation
of the Trust. The Trustees are solely acting on the information furnished to them at the time
of execution of this Deed and shall not be liable for any information that is not true and
accurate. Any consequences arising therefrom shall not be held against any Trustee in
discharge of his/her fiduciary responsibility. The Settlor hereby covenants with the Trustees
to indemnify them in respect of all or any liabilities incurred by them by reason of any of
the information or particulars given by the Settlor being incorrect or false or being
suppressed or omitted and subject thereto and in default of payment by the Settlor under
such covenant, the Trustees shall be entitled to be so indemnified out of the Trust Fund.

15.4. The Trustees may instead of acting personally, employ and pay any agency whether an
investment advisor, broker, depository participant, custodian, solicitor, banker, stock-broker,
chartered accountant, real estate advisor(for managing and administering all the activities
relating to real estate) or other person to transact any business or do any act required to be
transacted or done in the execution of the Trusts hereof including the receipt and payment of
money and shall be entitled to be allowed and paid all charges and expenses so incurred and
shall not be responsible for the default of any such agent or advisor employed in good faith.

15.5. The decisions taken and acts done by the Trustees in all matters arising under these presents
and taken and done, shall not be liable to be called into question or challenged in any manner
whatsoever. No Trustee shall be liable for any loss to the Trust Fund arising by the
negligence or fraud of any agent employed by it or by any other Trustee hereof, although the
employment of such agent was not strictly necessary or expedient or by reason of any mistake
or omission made in good faith by any Trustees hereof.

15.6. The Trustees shall only have authority over such monies, stocks, funds, securities or any
other property which the Trustees shall have actually received and shall not be liable or
responsible for any investment advisors, stock brokers, banker, broker, depository
participant, custodian or other person appointed, in whose hands the same may be deposited
or placed nor for the deficiency or insufficiency in the value of any investments of the Trust
Fund nor otherwise for any involuntary loss.

15.7. The Trustees shall be absolutely protected from liability in acting or relying upon written
instructions, whether legal or other expert advice or in respect of any loss to the Trust Fund
that results directly or indirectly from any investment, purchase, sale or transfer effected by
the portfolio manager/investment advisors/stock brokers/depository participants or other
such expert/ reputed service provider. Also, the Trustees shall be indemnified against all and
any costs, expenses or damages resulting to them from acting upon written instructions or
such other advisor aforesaid or the acts or omissions of the portfolio manager/investment
advisor/stock broker/depository participant/other expert/reputed service providers.

16. RIGHT TO REIMBURSEMENT OF EXPENSES

The Trustees shall have the right to reimburse themselves from time to time to meet, pay and
discharge all approved expenses incurred in or about the management of the Trust Fund, the
execution of the Trust or of its duties under these presents, first out of the Trust Income and
then if necessary, out of the Trust Capital. The following expenses may be permitted for
reimbursement:
16.1. All expenses properly incurred in the operation or execution of the Trust (including annual
audit fees payable in respect of the audit of the accounts of the Trust), expenses for the
realisation, preservation or benefit of the investments and assets comprising of the Trust Fund
and for the protection of the interest of the Beneficiaries.
16.2. All expenses (including expenses incidental to execution of any agreement) incurred by the
Trustees for collection of the Trust Fund. All legal expenses in connection with any legal
proceedings by or against the Trust or concerning the affairs of the Trust, including,
 professional fees of any legal adviser.
16.3. All legal and statutory expenses incurred in the operation or execution of the Trust including
all taxes, duties and other charges payable in connection with the Trust Fund.

17. TRUSTEE FEES

The Trustees shall be entitled to receive “Trustee Fees” for the management, governance,
operation and administration of the Trust.

18. TRUST RECORDS AND ACCOUNTS

18.1. The Trustees shall have the entire care and custody of the Trust Fund and its assets. They
shall maintain full and accurate books of account, records of receipts, disbursements, and
other financial transactions of the Trust.
18.2. The accounts of the Trust shall be closed on 31stMarch every year.
18.3. The Trustees shall also preserve and maintain the minutes, if any and resolutions passed at
the meetings of the Trustees.

19. DISTRIBUTION TO THE BENEFICARIES

19.1. All income from investments shall be credited in the Trust account and shall form part of
the Trust Fund which shall then be benefited by the Beneficiaries. The said benefit shall be
disbursed at the discretion of the Trustees.

19.2. Some amount of the income earned by the Trust from the respective investments, the
amount whereof shall be decided by the Trustees in accordance with the objects of the
Trust read along with the Letter of Wishes of the Settlor, shall be held back in the Trust
account ,forming a part of the Trust Fund to be disbursed on the dissolution of the Trust.

19.3. The Trustees may alter the specific mode of distribution to the Beneficiaries and may
earmark specific assets and income of the Trust for the benefit of any Beneficiary (ies) and
may also provide capital from the Trust at a time when it will most benefit any Beneficiary
(ies).

19.4. In the event any of the Beneficiary herein is minor or incapacitated at the time of receiving
any payment for any of the objects mentioned above, the Trustees are hereby authorized to
pay or deliver the same, either directly to the minor or to the Beneficiary who is
incapacitated, who in the judgment of the Trustees, is sufficiently mature to judiciously use
the same, or to either parent or guardian of such minor or incapacitated Beneficiary,
without being bound to see to the application thereof.

20. MODE AND MANNER OF DISTRIBUTION

20.1. The Trustees may transfer to the Beneficiaries, the Trust Fund either by cheque/bank
transfer or any other appropriate mode of transfer or the transfer of instrument representing
the underlying investment, in terms of the applicable laws and regulations. The costs
relating to or in connection with the distributions of the Trust Fund, if any, will be borne
from the Trust Fund.

20.2. In the event that the Trustees distributes to the Beneficiaries any amount by cheque/bank
transfer or any other appropriate mode of transfer by liquidating the underlying investment
of the Trust Fund, it may liquidate such investment in a phased manner over a commercially
reasonable period of time, rather than immediately and the Beneficiaries will be given the
Trust Fund in installments or otherwise on realization of the said investments.

20.3. The Trustees may make an in-specie distribution of assets forming part of the Trust Fund,
which may include share in partnership interest, securities, immovable properties or any
other assets.
20.4. The Trustees shall continue to hold the Trust Funds which cannot be liquidated / transferred
in specie on the date of dissolution of the Trust till a date on which they can be disposed of
by the Trustees and thereafter the proceeds shall be remitted or in specie distributed to the
Beneficiaries, as may be applicable. However, the Trustees shall endeavor to
liquidate/transfer such assets as soon as reasonably possible.

20.5. Until the Trustees shall receive verbal or written notice of any birth, marriage, death or
other event upon which the right to payments from this Trust may depend, the Trustees
shall incur no liability to persons whose interests may have been affected by that event for
disbursements made in good faith.

20.6. The Trustees shall distribute all the income and benefits of this Trust, net of expenses, such
as expenses incurred by the Trustees on behalf of the Trust, taxes, levies, insurance premium,
etc. chargeable to the Trust Fund.

21. EXCLUSION OF COMMUNITY PROPERTY RULES, FREE FROM MARITAL

CLAIMS, FREE FROM CREDITOR CLAIMS
21.1. Any Beneficiary’s interest in the Trust under this Deed shall be the sole separate and exclusive
property of such Beneficiary and shall not be part of or subject to any communal or joint estate
of such Beneficiary. Any such interest or benefit shall also be free from the interference,
control and marital power of his or her spouse and shall not be subject to any claims under
any proceedings of divorce or judicial separation.

21.2. The beneficial and legal interest in the Trust Fund shall be free from the interference or control
of creditors of each and every Beneficiary of the Trust and shall not be subject to the claims
of any creditor of any Beneficiary, nor liable to attachment, execution, bankruptcy or any
other process or proceedings of law and the Trust Fund shall be paid over to the Beneficiaries
at the time and manner herein provided and not upon any written or verbal order nor upon any
assignment of transfer thereof by the Beneficiary or by operation of law or any liquidation
proceedings or on statutory directions/instructions.

22. AMENDMENT
22.1. Any amendment to this Deed shall always be in accordance with objects of the Settlor as
set forth in the Trust Deed and the Letter of Wishes and thereby only be for the benefit of
the Beneficiaries. The exercise of this power by the Trustees should not prejudice or
adversely affect any of the rights/powers/benefits available to Beneficiaries. In exercising
these powers, the Trustees shall observe the general fiduciary duties of loyalty, good faith,
fairness and due care.

23. TERM OF THE TRUST

23.1. The Trust shall be dissolved at the discretion of the Trustees.

23.2. In such an event the Trust shall be dissolved within three months after distribution of the Trust
Fund as per Clauses 19 and 20.

23.3. Notwithstanding anything herein contained, the Trustees agrees not to effect distributions of
Trust Fund in contravention of the rule against perpetuity in Section 14 of the Transfer of
Property Act, 1882.

24. PROPER LAW AND FORUM FOR ADMINISTRATION

24.1. This Deed shall be interpreted under the laws of Republic of India and as per the Indian Trust
Act 1882.

25. MISCELLANEOUS
25.1. Dispute Resolution: In the event of disputes, differences, claims and questions between the
 Parties arising out of this Deed or in any way relating hereto or any term, condition or
provision herein mentioned or the construction or interpretation thereof or otherwise in
relation hereto, the Parties shall first endeavor to settle such differences, disputes, claims
or questions by mutual understanding. If the Parties are unable to reach a consensus, then
the dispute shall be referred to Mr./Mrs. _____________, who shall act as the Mediators
for and between the Parties. In the event mediation fails, the Parties shall then approach
the competent court in India and the disputes shall be settled by final and binding litigation.
If permissible under the laws of India in future, then the disputes relating to the Trust shall
be resolved through arbitration as per the arbitration law.

25.2. Clause ineffective or void: If any Clause or any part of this Deed is or are declared to be
ineffective, unenforceable, inoperative or void, the same shall not affect the validity of the
remaining Clauses of this Deed.

25.3. Overriding exceptions: Notwithstanding anything herein contained no trust power or

provision hereby or law conferred upon the Trustees shall be exercised in such way as to
infringe any rule against perpetuities, which may become applicable hereto.

25.4. Counterparts: This Deed may be executed in several counterparts, each of which shall be
deemed an original but all of which shall constitute one and the same instrument, provided
that each such counterpart shall be executed by the Parties.
25.5. In any proceeding involving the construction or operation of this Deed, the current
Beneficiaries shall represent all future Beneficiary (ies). Any order rendered in the
proceeding shall be binding on all undetermined Beneficiary (ies).

25.6. These presents together with Letter of Wishes and other documents pertaining to the Trust
shall be deposited in safe custody with the Trustees. Subject to the other provisions of the
Trust Deed, the Trustees are empowered to disclose the Trust Deed and the affairs of the
Trust only after determining that such disclosure is an absolute necessity for the performance
of the Trust or is required to be done under the law. The Trustees are empowered to provide
certified copies of the same subject to the satisfaction of the Trustees to do so. The Trustees
are entitled to recover reasonable cost for reproduction, transcription and copying thereof.

26. IRREVOCABLE TRUST

26.1. The Trust being established hereby shall be Irrevocable Discretionary. If the Trust fails or is
held to be invalid for any reasons, there shall be no resulting Trust in favour of the Settlor
and the assets of the Trust shall be distributed in the manner provided under Clauses19 and
20 above.
SIGNATURE CLAUSE
IN WITNESS WHEREOF the Parties hereto have caused this Deed to be executed on this ___ day
of _____, _____first herein above written.

SIGNED AND DELIVERED

By the within named in his capacity as Settlor

1. Mr./Mrs. _____________ )

PAN: _____________ )

By the within named in its capacity as Trustees

1. Mr./Mrs. _____________ )

PAN: ______________ )
2. Mr./Mrs. _____________ )
PAN: )

in the presence of

(Name & Signature of the witness)

1. )

PAN : ______________ )

2. _____________ )

PAN : _________________ )