Commerce
(in the case of erstwhile M/s. Global Trust Bank Ltd. amalgamated with OBC on
14.08.2004) against the order ... failed to appreciate that the erstwhile Global Trust
Bank was amalgamated into OBC on 14.8.2004 by the Govt. of India
amalgamated
company. The amalgamated company reports that out of the 40% shares in the
amalgamated company held by the trust, 32,63,16,563 shares ... April 30,
2017. The trust should also transfer the balance shares held by the trust in the
amalgamated company in favour of such entities
proper management or administration, two
or more public trusts may be amalgamated by framing a
common scheme for the same, he may, after -
(a) publishing ... Commissioner under section 50A(2) in the
matter of amalgamation of two or more public trusts by the frame of
a common scheme
resolutions etc.
placed on record. However, the procedure for the
amalgamation of a trust scheme stemming out from Section
50A BPTA, which is a complete ... such
society being a Trust registered under the Bombay Public
Trust Act is required to follow the procedure for amalgamation
or merger as contemplated under
proper
management or administration, two or more
public trusts may be amalgamated by framing a
common scheme for the same, he may, after -
::: Uploaded ... trust] with a wide
circulation in the region in which the trust is
registered, and
(b) giving the trustees of such trusts and all
other
with any property comprising the Trust fund.
(9) To let out, demise any immovable property
comprised in the trust fund for such period ... Trust and to promote or carryon with
affiliation or amalgamation of such other
Trust with this Trust."
14. Assessee Trust has established institutions / colleges
Dcit, New Delhi vs M/S. Estwhile Global Trust Bank Ltd., ... on 19 April, 2017
FIT FOR PUBLICATION
Sd/- Sd/-
(AM) (JM)
IN THE INCOME ... 2014
(ASSESSMENT YEAR-2002-03)
DCIT, Vs Erstwhile Global Trust Bank Ltd.,
Circle-13(1), (Amalgamated with Oriental Bank of
New Delhi. Commerce
that the trust
deed was executed on 23.5.2011,that the trust was registered with the charity commissioner
Mumbai under Bombay Public Trust ... deed the trustees were empowered to take over/amalgamate with any other trust society or
institution,that there was no need to provide
Government which are
binding to the TAMP as well as Kandla Port Trust. This
proposition of binding nature do prima facie stem from
operation ... agreement and not as
demanded by the Kandla Port Trust. The distinction
drawn between the amalgamation of two companies and
demerger of a company
give due
opportunity of hearing to the existing trustees of the
subject trust and the other that without recording any
reason, necessitating framing ... Charity Commissioner.
16. Section 50-A of the Trust Act empowers the
Charity Commissioner to frame, amalgamate or modify the
::: Uploaded on - 31/10/2017
