CAN A TRUST BE AMALGAMATED WITH REGISTERED SOCIETY
Querist :
Anonymous
(Querist) 28 March 2010
This query is : Resolved
Dear Sir,
I have few clarifications
1. Can a Trust be amalgamated with a Registered Charitable Society. if so the what has to be done?
2. We have a trust and there is a sole trustee. Now we want to have more trustees in the trust. Can we do that. If so then how.
3. Can a trust deed be amended?
Thanks
A V Vishal
(Expert) 28 March 2010
Can a Trust be amalgamated with a Registered Charitable Society. if so the what has to be done?
There is nothing such as amalgamation of trusts and societies, however, in event of dissolution of trust, the assets can be transferred to a similar trust/society registered u/s. 12A of the Income Tax Act.
We have a trust and there is a sole trustee. Now we want to have more trustees in the trust. Can we do that. If so then how.
Yes, you can provided the trust deed allows the same in its clauses.
3. Can a trust deed be amended?
Yes a trust deed can be amended.
N RAMESH.
(Expert) 28 March 2010
I agree with Mr.Vishal
B K Raghavendra Rao
(Expert) 28 March 2010
A Trust and a Society cannot be amalgamated. Amalgamation is not known to different identities. It is only in the case of companies registered under companies act amalgamation is in vogue.
Trust is governed under Trust Act and a Society is (if not co-operative) is governed under Societies Registration Act.
N.K.Assumi
(Expert) 29 March 2010
I think B.K.Raghavendra Rao, has a point on the matter, as the law are distinct with the laws governing trust etc. Vishal, has also pointed out dissolution and transfer, and when society and trust are dissolved question of amalgamation does not arise.I accept the statements of law as pointed out by Rao.
Manish Singh
(Expert) 29 March 2010
i think we should not press upon the word "amalgamation" too much as even if two charitable orgnisations merge with each other, the same may be lebelled as amalgamation. likewise the word merger has not been used or defined in the companies act except the income tax act.
under the societies act, if any societies get dissolved, the assets of that society is merged with a similar kind of society. there's no central act for regulating any public trust except some state laws like bombay public charitable act and like.
even if a public trust is dissolved, the assets of that trust can not be conferred on the trustees or any person but the same gets transferred to a similar kind of society/trust.
Kumar Thadhani
(Expert) 01 April 2010
The word 'amalgamation and 'merger are applicable to companies under the Companies Act or Income Tax Act While in Societies Actwhich regulate Public Trust where the assets are merged and amalgamated with the similiar trust having same objects.
jayaveladvocate
(Expert) 05 November 2010
please note that income tax is forthe purpose taxation it is section 92 of civil procedure (outside-Mah)and concerned state aline governing laws
