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MURUGESH KASIVEL (Corporate Lawyer)     06 October 2016

Mismanagement of trust

Dear Experts,

Kindly, advise me to sort out this issue. There is an Educational Trust which is formed for education activity. The Managing Trust is also a Managing Director in a Private Limited company. My client is an individual, he along with the trust opened a school. But the management is with the trust. My client is not a trustee.

Now, the Pvt. Ltd Company had went for voluntary winding up and in that the school is also been attached as the asset of the company.

No one is there to oppose it, because the trutees in the trust and the directors were one and the same.

Now, my client want to oppose. My doubt is 

1. Whether my client have locus standi?

2. Whether my client can file a case against the tust for mismanagement?

Thanx in advance. 



Learning

 1 Replies

adv.bharat @ PUNE (Lawyer)     08 October 2016

!) As he is not trustee then can't have locus standi under such condition.

2) It depend up on the TOR for trust agreement with the private company if any.

If u appreciate my answer then will u give THANKS on my LCI profile.


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