17.
Power to purchase, hire or take on lease:
The Board of Trustees with approval and authorized from Author / Settler Trustee in written form shall be entitled to purchase or hire or take on lease a property or properties for the purpose of carrying out the objects of the Trust hereby created.
18.
Power to borrow:
The Board of Trustees with approval and authorized from Author / Settler Trustee in written form may from time to time at their discretion for the furtherance of the objects of the Trust of THESE PRESENTS borrow money at any time and for the purpose may authorize the Trustees to borrow money at such rate of interest and in such form and manner and thereupon the Trustees shall at their discretion make all such dispositions of properties, movable or immovable, forming part of the Trust fund or any part thereof and enter into such agreements, assurances, deeds and things in relation thereto as the Trustees may deem proper for giving security for such loan and interests.
19.
Investment of Trust Fund:
All moneys forming part of the Trust fund and requiring investments shall be invested, with approval and authorized from Author / Settler Trustee in written form, in the name of the Trust exclusively for the Trust for the time being in or upon any of the Securities authorized by the Income Tax Act, 1961 or in deposits with any Scheduled Bank or Banks.
20.
Opening Bank Accounts:
a) The Board of Trustees with approval and authorized from Author / Settler Trustee in written form may open and maintain any Banking Account or Accounts in the name of the Trust with such Scheduled Bank or Banks as may from time to time be determined by the Trustees.
b) Such Banking Account or Accounts shall be operated upon by the Trustees as may from time to time be authorized to do so by a resolution of the Trustees of THESE PRESENTS.
c) The Trust may open Banking Account(s) in the name of Institution / Organization founded by the Trust. Such Bank Account(s) shall be operated by such persons as authorized by the Board of Trustees from time to time.
21.
Accounts and Audits:
The Board of Trustees shall get maintained regular accounts of the Trust funds and shall get the same duly audited by a Firm of Chartered Accountants. The accounts and audit report and the reports of the Trust shall be made known to all the Trustees of THESE PRESENTS.
22.
Power to sell or manage or maintain movable and immovable properties:
The Board of Trustees with approval and authorized from Author / Settler Trustee in written form shall sell any movable or immovable properties of the Trust either together or in parts by public auctions or private contracts with or without any stipulations; and to rescind or vary any contract for the sale and re-sale of any properties of the Trust; and to buy in any properties out of the money which shall raise from any such sale of properties and to execute and do all such assurances, acts, deeds as the Trustees shall think fit, and shall stand possessed of the money, profits or unsold parts of the properties by the Board of Trustees of THESE PRESENTS.
Provided always that the Board of Trustees with approval and authorized from Author / Settler Trustee in written form shall manage any movable or immovable properties with full power to make improvement, repairs or alterations of any description and to make or incur any outlay for any such purposes or for the insurance or otherwise or to alter the terms and conditions of the tenancy or occupation under the same respectively, and to make any allowances to or agreements with tenants or intending tenants or occupiers of the said premises and it shall be in the discretion of the Trustees either to prosecutes or forebear or to compound or submit to arbitration or settle with any other person or persons whosoever in relation to the premises / properties.
