Azadi ka Amrit Mahatsav


A successful Banker deals not only with deposits and advances. He deals primarily with persons and should be closely associated with the clients affairs as a friend & guide. He should take active part in welfare of the community and be a part of the society he serves. 

In some measure Bank Of Maharashtra has been fulfilling this objective through THE MAHARASHTRA EXECUTOR & TRUSTEE CO. LTD started in 1946 as a fully owned subsidiary. 

You can entrust the work as an Executor & or Trustee of your will, private trust or Public Trust or as Attorney to manage your property.

Our Trustee Company offers you the following range of trusted services. 

1. Executor of Will


  • You can consult us for preparing your will. We will draft the will for you as per your wishes and keep safe custody of it.
  • We undertake the complex job of executing your will
  • We realize and collect your property after you from Banks, Companies, Mutual Funds, Unit Trust etc. by complying with varying formalities & procedures.
  • We hold it for the benefit of your near and dear as per your wishes ensuring proper utilization and perseverance with full care and prudence.
  • Ultimately repose it in the hands of those whom you desire, for fulfilling your wishes in true sense.
  • All this without any hassles and hush that may be associated with a entrusting this work to any individual be it your relative or a best friend.
  • We being an institution do it with expertise
    • Systematically
    • Continuously
    • without prejudice
    • without outside influences
    • with full organizational support

2. Management of Private Trust

You may be wishing to keep aside part of your property for the benefit of your dependents during your lifetime and after you.

But you feel that your dependents may not take proper care of the properties due to mental incapacity, physical disability, insufficient age etc.

You can create Private Trust for the purpose & arrange for proper care of the property. You can also keep effective control during your lifetime & after as per your directions.

  • We guide you for formation of such Private Trust
  • We act as Managing Trustee of such trusts as sole Managing Trustee or with other Advisory Trustees. 

As Trustee

  • We keep custody of your property
  • We invest, reinvest, collect, interest / dividends
  • We make periodical payments
  • We pay for special requirements &
  • We ultimately distribute property as per Trust deed.

3. Management of Public Charitable Trusts

At times you desire to donate part of your estate for the benevolent objects for social cause manifesting your deep sense of gratitude & social commitment. 

For this you wish to have permanent arrangement. 

You can settle a Public Charitable Trust for fulfilling these objectives.

  • We guide you for formation of Public Charitable Trust.
  • We draft Trust Deed for you.
  • We register it with Charity Commissioner
  • We obtain recognition for the Trust under Income Tax Act
  • We keep accounts and get them audited annually.
  • We file periodical returns and statements with concerned authorities
  • We call meetings of the Advisory Trustees and maintain minute book.

Thus we relieve you of the burden of all technical and financial formalities required under statute free to serve social cause. 

We being an institution have perpetual succession and hence best suited to manage and carry on the objectives of the Trust which is also perpetual.

4. Management of Investments and House Properties as Attorney

When you are miles away from your mother and motherland you are in need of somebody who will take care of your properties movable and immovable. You want to ensure its benefit for your beloved parents relieving them of the burden of managing them and maintaining them.

For this you can give us power of attorney to manage your property. As your Attorney we undertake the following work.

We arrange to,

  • Keep safe custody of your securities
  • To collect rent and interest
  • To invest and reinvest surplus as per your directions
  • To pay taxes
  • To pay other outgoings such as telephone bills, electricity bills society charges etc.
  • To maintain the house property by undertaking general repairs for wear and tear.

We give these services to all especially old aged persons at their doorsteps with care and love.

5. Guardianship of Minors' Property

We take care of minors property when they have unfortunately lost their parents. We act as Court Guardian and manage the property of minors till they attain majority under the directions of the Court. 

All these services are available at very economical rates, that too with assurance for efficient services to your satisfaction.



Initial Charges for Consultation & 
Drafting of New Trust Deed
Each supplemental documentRs.750/- (For Pvt. Trust)
Rs.3,000/- (For Public Trust)
Acceptance Fees (One Time) on Accretion To Trust Fund
Up to Rs.5 Lacs
Above Rs.5 Lacs
2% of amount
1% of amount
Registration with Charity CommissionerRs.2,500/- at Mumbai
And Income TaxRs.2,000/- at other places
80 G Renewal under Income Tax Rs.750/-
Annual Management Charges
For Public Trust1% of Trust Fund (Minimum Rs.500/-)
For Private Trust0.75% of Trust Fund (Minimum Rs.500/-)
Revocation/Cancellation ChargesRs.1,000/-
Supplemental document (Codicil)Rs.750/-
Safe Custody Charges
For Existing A/cs (as on 31.03.2000)Rs.50/-
For New A/csRs.150/-
Execution Fees to be charged at the time of execution.
Except Shares/Debentures3% value of property
Shares/Debentures5% of value of property
b)Immovable Property (on market value)
When in possession of legatees
Up to Rs.10 Lacs2% of value
Above Rs.10 Lacs1% (Min. Rs.3,000/-)
Sale of Property
(Whether in possession of legatees or otherwise)
Upto Rs.10 Lacs3% of value of property
Above Rs.10 Lacs2% of value of property
Cancellation ChargesRs.500/-
When Company is not appointed as an Executor/Trustee, charges for Consultation and Drafting will be double.
Initial Charges for Consultation and DraftingRs.2,000/-
Safe Custody ChargesRs.10/- perscrip p.a. (When in Our physical possession).
Annual Management Charges
Movable0.75% of Total investments
Rented10% of rent income
Own Occupied / VacantTo be decided mutually after taking into consideration the nature of work involved.
OTHER CHARGES (For All Types of Services)
Meeting Fees
In Office
Outside OfficeRs.200/-
After Office HoursRs.500/-
Court Attendance - (Each)Rs.100/- + Travel
Personal Visit of OfficialRs.200/- + Travel
Spl. MessengerRs.25/- + Travel
Sale / Purchase of Shares/Govt. Securities0.50% of value
Demat of Shares (One Time)Service charges equal to the Bank in which Demat A/c. is opened.
Out of pocket expenses such as Postage,
Photo Copy, Notary, Valuation, Stamp Duty, Audit Fees etc.
On actual basis

Contact Details

568 First Floor Kesari Wada, Near Bank of Maharashtra, Narayan Peth, Pune - 411030. Phone: 020-24497965 | 24497966