Section 11 in Energy Conservation (Venture Capital Fund for Energy Efficiency) Rules, 2017
11. Power of the Trustees.
- The Board of Trustees shall have the control and management of the Trust and exercise the following powers namely:-(a)to determine from time to time, the commencement and taking up the object and purposes for which the funds of the trust shall be used and allot and allocate to each of the objects such portion of the funds as they deem fit;(b)to finalise investment strategy and operations manual of the fund;(c)to incur all expenditure necessary as in their own opinion useful for administration of the trust;(d)to open one or more bank accounts of the trust with any bank or banks as the Trustees may deem fit and deposit monies of the Trust in the Bank accounts;(e)to institute, conduct, defend, compound, withdraw, compromise, adjust, refer to arbitration or to do such things as are incidental and necessary, concerning the affairs of the Trust and to sign and verify vakalats, pleadings, affidavits and other powers;(f)to accept contributions in cash or in kind either by way of addition to the trust funds generally or for any one or more of the specified objects of the Trust; and(g)to establish ad-hoc committees for any purpose.
