Trust takeover
siddhartha
(Querist) 04 September 2012
This query is : Resolved
can charitable trust be taken over
A V Vishal
(Expert) 05 September 2012
What are the relevant facts.
siddhartha
(Querist) 05 September 2012
There is trust at hyderabad acuired properties in tamilnadu and there is another trust which intends to takeover/merge
Tajobsindia
(Expert) 06 September 2012
In a Trust, the management rests with the board of trustees who can remain so for life, and need not stand for election. Changes in the composition of the board are usually by invitation and not election. This ensures that the trust is managed by those approved by the original donor(s) or trustee(s) who cannot be removed by election. The alteration of the objects laid down in the Trust deed is difficult and only the settler can modify them. The Charities Commissioner also has more power to intervene in the affairs of a Trust, and a Trust cannot be dissolved easily.
There is thus minimum danger of a takeover by persons not approved by the trustees or settler.
A V Vishal
(Expert) 08 September 2012
Does the other trust hold registration u/.12AA of the Income Tax Act.
