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Showing contexts for: oral trust in Chettinad Coal Washeries Pvt Ltd vs Dr. M.A.M. Ramaswamy Chettiar&Anr on 6 September, 2022Matching Fragments
4. It is represented on behalf of the Appellant, on 09.02.2015, the `Applicant' (Deceased) in CA/1/2014 had declared the `1st Respondent' / `Public Trust' and on 16.02.2015, he declared `Dr. M.A.M. Ramaswamy Chettiar Trust', a `Private Trust'. As a matter of fact, according to the `Appellant', the `Applicant' (Deceased) had executed a `Will' bequeathing all his immovable and movable properties (including `Fixed Deposits' and `Loans') to the 1st Respondent/Trust.
5. The Learned Counsel for the Appellant submits that the Applicant (Deceased) in his `Will' had stated that he intended to transfer `some of the movable properties', in favour of the Private Trust during his lifetime. Company Appeal (AT) (CH) Nos. 43 & 45 of 2022 Furthermore, the Applicant (Deceased) on 30.09.2015 had transferred all his movable properties, listed in the `Schedule' to the `Will' in favour of the `Private Trust' by an `Oral Gift', including the `Loan/Deposit' with the `Appellant'.
23. The Learned Counsel for the 1st Respondent refers to the First Meeting of the `Board of Trustees' of `Dr. M.A.M. Ramaswamy Chettiar Trust' was held on 06.04.2015, in which, `Dr. M.A.M. Ramaswamy' was present and further that `Clause 9' of the `Minutes', is as under:
``Acceptance of gifts of movable assets by Dr. M.A.M. Ramaswamy to the Trust - The draft letter as placed before the meeting and initiated by Dr. A.C. Muthiah was approved.''
24. The Learned Counsel for the 1st Respondent adverts to the Second Meeting of the `Board of Trustees' of `Dr. M.A.M. Ramaswamy Chettiar Trust' on 06.11.2015, in which, it was resolved that ``The Trustees placed on record the oral gift of all the movable assets owned and possessed and mentioned in the `Will' dated 18/02/2015, registered as Doc. No. 16 of 2015, before the Sub Registrar, Mylapore, by the Founder Dr. M.A.M. Ramaswamy to Dr. M.A.M. Ramaswamy Chettiar Trust made by him by oral declaration to the Trustees in the presence of Mr. V. Jayaraman & Mr. K. Muthuvellayan on his birthday on 30th September 2015. The Trust has accepted the oral gift of all the movable properties.'' Company Appeal (AT) (CH) Nos. 43 & 45 of 2022
25. The Learned Counsel for the 1st Respondent points out that the aforesaid circumstances exhibit that `Dr. M.A.M. Ramaswamy' listed out `all the movable assets possessed by him' in the `Will' dated 18.02.2015 (Registered as Doc. No. 16 of 2015) and handed over the original `Will' to `Dr. A.C. Muthiah' and made an `Oral Gift', of all the `movable assets' owned by him making a declaration of the `Trustees' in the presence of one Mr. Jeyaraman and Mr. K. Muthu Vellaiyan on his birthday on 30.09.2015 and that the `Trust' has accepted the `Oral Gift', of all the movable properties.
109. Continuing further, the `validity', `execution' and `legality' of the `Will' is inter-oven with the `Claim' of the `1st Respondent' / `Trust' that Company Appeal (AT) (CH) Nos. 43 & 45 of 2022 all the `Movable Properties', including the `Loan' given by the `Applicant' (Deceased) was orally gifted to the `Private Trust' in terms of the `Deed of Trust' dated 16.02.2015 and by the covenants of the said `Deed of Trust', they were transferred to the `1st Respondent'/`Trust', on the death of the `Applicant'.