Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

jayavadan (individual)     11 May 2014

Local registered trust and nri

WE HAVE A KHATRI COMMUNITY TRUST IN GUJARAT.  THERE WAS HELD AN ELECTION IN WHICH THREE NRI HAS BEEN ELECTED. THERE IN NO EXACT GUIDE LINES ABOUT THE ELEGIBILITY OF TRUSTEE IN OUT TRUST CONSTITUION.

NOW AN NRI, IS ELECTED AS PRESIDENT.  CAN HE ACT AS A PRESIDENT BEING BRITISH CITIZEN ? IN THE BANK ACCOUNT, CAN HE SIGN AS PRESIDENT. THE BANK LAW FOR NRI , SAYS THEY CAN NOT HAVE LOCAL ACCOUNT. YOUR GUIDANCE PLEASE.

FURTHER, THE VICE PRESIDENT IS ALSO BENEFICIARY , STAYING IN SUBSIDIES RENTAL PREMISE OF MANDAL, TRUST..... . HE IS ALSO COLLECTING FEES FOR HIS CHILDREN. HE IS ALSO TAKING MEDICAL HELP... FOR HIS FAMILY AND MOTHER.......... . HE IS A BENEFICIARY... CAN HE BE VICE PRESIDENT OF THE TRUST ? 

YOUR COMMENTS PLEASE

 

 



Learning

 0 Replies


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register