Historical background

1) In 1912, Gopal Subrao Dangi, Dr. Narayan Anna Naik, Madhavrao Vasudev Bhat, Sheshgiri Manjunath Kamat, Martobrao Durgappa Gaitonde, Vinayak Srinivas Kamat, Ramachandra Krishna Prabhu, Anandrao Pandurang Kamat,Venkatrao Ramachandra Haldipur, Madhav Manjunath Shanbhag and many other enthusiastic members of the Goud Saraswat Brahman community came together and formed the voluntary association known as The Goud Saraswat Brahman Scholarship League. (the League ) with the object of providing scholarships and rendering other suitable help to the poor and deserving students of the Goud Saraswat Brahman Community. They garnered an appreciable support from the GSB community and collected funds for this purpose.

2) In July 1923 , the League formed a Trust and appointed a Board of Trustees to hold the funds of the League to ensure the safety and security of the property and investments of the League. Following members were nominated to be the first Trustees of the League :

1) Madhavrao Vasudev Bhat.

2) Ramachandra Krishna Prabhu

3) Anandrao Pandurang Kamat.

4) Venkatrao Ramachandra Haldipur

5) Madhav Manjunath Shanbhag

Accordingly, the securities of the face value of Rs.10,000/- which were then held in the name of the office bearers, were transferred in the names of the said first Trustees.

3) To give a legal status to the Trust and the said Trustees, a DECLARATION OF TRUST DEED dated 26th April 1926 was registered containing a set of Rules and Procedures to govern the Trust, its financial administration, appointment of the Managing Committee and office bearers etc.

4) The League obtained registration as a Public Trust vide Certificate of Registration No. A-1080 (B) under Bombay Public Trusts Act 1950.

5) Similarly, the League was registered as a Charitable Trust under Section12-A(a) of the Income Tax Act 1961 under Registration No. INS/3576.

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