Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Kalaisamy Muthiah   05 June 2022

Amendment to religious trust deed

We formed a religious trust in the year 1994 for worshipping the Goddess Devi Karumari Amman. This Trust was registered with the Tamil Nadu Registration Department and the approval of the Commissioner of Income-tax was also obtained. The trustees of the governing body shall hold office for three years from the date of registration and may be renewed by the resolution of the governing body but the renewal was not done after the completion of three years till now. In the meantime, out of 14 trustees in the governing body, 6 trustees passed away due to aging. No activities were carried out by the Trust since its formation in 1994; no income and expense and hence no audit of accounts. Now the existing Trustees along with new members want to pursue the objectives of the Trust. For this purpose, can we continue the activities of the Trust and change the constitution of the governing body of the trust  with the existing Trust Deed created in 1994 or will it need an amendment to the existing Trust Deed of 1994 or shall we creat a new Trust? Please advise.



Learning

 3 Replies

P. Venu (Advocate)     05 June 2022

Any suggestion depends upon the law under which the Trust has been registered. Anyhow, there could be no legal provision that prevents the trustees from correcting the mistakes and addreesing the shortcomings of the past.

Dr J C Vashista (Advocate)     06 June 2022

Show the Trust Deed to a local prudent lawyer for proper analyses of document, professional advise and necessary proceeding as the same can not be presumed and obliged by experts.

KUNAL   20 June 2022

Indian Trusts Act applies to all situation where there is no Public or Charitable Trusts Act enacted by the State.

Now, assuming your Trust has not been renewed, that's no issue. As no activities were carried out by your original Trust, follow the following steps!

1. Sign a Supplementary Trust Deed suspending operation of your Trust. After that make a simple Trust authorising transfer of assets from your original Trust (inter-transfer of Trust assets) & record that act of conveyance in your new Trust. Put a clause authorising lapse of your temporary Trust till such time you devise a new Trust.
2. Once thats done, revoke your original Trust.
3. Now make new Trust. In new Trust you make, transfer your assets from your temporary Trust by a simple Transfer Deed signed by the original Settlor & Trustees (that's called "pour over of assets" & is used in cases where too many amendments are not wanted by Settlor)

For further queries you can mail me at

estateplanner621990@gmail.com

Thanks & have a good day ahead!

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query