Name of the Institution:
Nath, Srinagar, Kashmir, J&K State,
Jammu, J&K, INDIA
and Objectives of Satisar Foundation
i) To preserve and promote the age-old
Values of Kashmiri Hindu Cultural tradition which
includes language, philosophy, art and literature,
history, sciences and the spiritual tradition;
ii) To inculcate and strengthen pride,
excellence, ethics and self- reliance in the
members of the community and to strive for the
socio-cultural regeneration of the Kashmiri Hindu
iii) To strive for the building and sustenance of
Cultural, Economic, Social and Educational
institutions for the community of Kashmiri
Hindus and to build resources for the Economic
well-being and overall improvement of the
iv) To promote and patronize budding and
talented people of the community especially in
Language, Arts, Philosphy, Religion, Business,
Sciences and Education.
5. SATISAR FOUNDATION,
henceforth referred to as SATF would be a
voluntary, non-profit, Socio-Cultural Organization
constituted of upto eleven Directors. This
Board of Directors (BOD) would choose the Chairman
of the Foundation and a Secretary amongst the
eleven Directors. The Chairman would head the
Foundation and the Secretary would run the day to
6. SATISAR FOUNDATION
would be incorporated initially by a Board of
Directors whose names and signatures are attached
to this Constitution. This Constitution would be
ratified by this Board of Directors and would then
proceed to elect a Chairman, a Secretary and
Director Finance and Director Public Relations.
Director and Board of
7. Eminent members
of the Kashmiri Hindu community with a recognized
contribution and a proven track record in the
Field of Social Service, Kashmiri Hindu Culture,
Philosophy and Spiritual tradition, Education,
Economics, Administration, Business and Arts and
Literature could be co-opted by the existing
members on the Board as a Director. The
prospective Director must be born of Kashmiri
8. A new Director
on the Board would be co-opted for two years by a
two thirds majority of the existing Directors on
9. The maximum
number of Directors would be eleven and each of
the Directors, including the Chairman would have a
10. The Chairman and the
Secretary would be elected by a Simple vote
amongst the existing board of Directors.
11. The Chairman would
serve as the head of the Foundation for a period
of one year. He or she can be re-elected for three
consective terms for a mximum of three years.
12. Each Director would
serve for a maximum period of two years on the
13. Gross misconduct,
working against the interests of the Foundation,
Financial irregularities and discussing the
internal and confidential matters in public would
make the Director or the Chairman liable for
disciplinary action or even removal.
14. A Director can be
removed from the Board before the two year period
by a two thirds majority after a simple majority
of the Board of Directors bring in a written
motion against him or her.
15. The Chairman can be
removed as the head of the Organization by a two
thirds majority after a two thirds of the members
on the Board bring in a written motion for removal
spelling out the reasons for removal.
16. The BOD will sit once
every month to chalk out projects and plans to
accomplish the charter of the Foundation. All such
meetings would be chaired by the Chairman.
17. A Director, not
normally resident in Jammu or India can choose a
proxy amongst the remaining Directors on the Board
to vote and decide on his or her behalf.
18. A Director, normally
resident in Jammu or India would have to attend
atleast seven of the twelve meetings of the Board
to be held every year, failing which he or she
could be liable for a motion of removal against
him or her in the BOD.
19. All Directors,
including the Chairman would need to uphold the
values and the Constitution of the Foundation and
should conduct himself or herself inside the
institution or outside in public with utmost
dignity, character, nobleness, humility and
20. The Chairman and the
Board of Directors (BOD) would assign various
responsibilties to other Directors as and when
required. However, Director Finance and Director
Public Relations would be elected at the time of
the election of the Chairman.
21. The BOD would decide,
when required, to increase the number of Directors
on the board from eleven.
22. The quorum required
for Board meetings would be seven out of eleven.
23. A Director assigned
with a specific responsibilty will formulate his
or her team to carry out those responsibilities.
24. Any amendment to this
Constitution would need a nine out of eleven vote
in the Board of Directors or proportionately if
the number is less than eleven.
The funds needed for
executing the projects and the day to day business
of SATF would come from donations from the public
and other charitable institutions. The Board of
Directors would decide on time to time basis to
mobilize such funds as also to implement projects
in line with the charter of the Foundation.
The Chairman, the
Secretary and the Director of Finance would be
responsible for the Financial Code and any two of
them would be authorized signatories. All payments
above a certain amount (To be Decided in the Board
Meeting) would need to be approved by the
BOD before being sanctioned or disbursed.
All payments would need
to have proper Receipts and the BOD would decide
on those payments or expenses actually incurred
but not accompanied by Receipts. This should be
read in continuation of the above para.
The BOD will decide at a
later stage whether some discretionary powers are
to be vested in the Chairman or Director of
Finance to sanction or approve payments upto a
pre-decided nominal limit.
The Foundation will have
an Audit every year and a Balance Sheet would have
to be prepared every six months for the Board of
Directors. The Balance Sheet would need to be
signed by the Chairman, the Director Finance and
the Secretary before being presented to the BOD.
In all Financial and
other Organizational matters, the BOD would be the
final deciding body.