appoint new Trustee or Trustees, so as to
bring the number of Trustees to the minimum as
herein provided.
Clause 14
The Trustees shall ... jointly given the responsibility by the
present Trustees to only appoint 2 Trustees and not 3
Trustees, with mutual consent, in view of the resignation
same products. Shri Bishan Dass and Shri Raj Kumar, two of
the trustees of the Trust were also the directors and shareholders of the Assessee ... directors of the assessee company were the sons of two
trustees of the Trust. It is also an admitted position that bulk of the shares
Kumar & Sons Co. These are the two founder -
trustees. They settled an amount of `2,200/- upon trust. Admittedly, this is the
only property ... that the affairs of the trust were
closely controlled by the two founder - trustees and the beneficiaries i.e. the
members of the public
first is
where a contract between two parties is so framed as to
make one of them a trustee for a third; in such cases ... acknowledgement or otherwise besides other two well recognized
exceptions which are beneficial interest or trustee. The said
observations of Jnan Chandra (supra) finds approval
demands."
9. Two of the examples where the Supreme Court has held the property to
be held as a trustee in terms of Section ... transfer of the property to the agent, he stands as a trustee for
the principal.
10. Therefore, in certain cases where there is obvious breach
President
nominated Prof. A. Ramachandran, Member, Board of Trustees, IGNCA,
for the remaining two members and again there is no controversy in his
nomination
profit or advantage from the
relationship without full disclosure. The category
includes trustees, Company promoters and directors,
guardians, solicitors and clients and other similarly
placed ... Insurance Company,
(20) Trustee de son tort,
(21) Co-heir,
(22) Benamidar.
20.2 The above would show that there are two kinds of relationships
which two were to be effectuated in Mecca and Madina. The trust
deed also conferred absolute discretion upon the trustees to apply the
income ... should be
expressly confined to purposes within the taxable
territories. If the trustees, as a matter of fact though not
as a matter of legal
Rani Binyamini as against the
requirement of it being signed by atleast two Directors and therefore, it could
not carry any binding effect. Counsel also ... their claim, being held in trust with defendant No.6, the trustee
CS(OS) No. 150/2012 Page 14 of 74
who has even undertaken
nominee would be entitled to receive the
amount as an agent or trustee of the legal heirs and representatives of the
deceased. I am supported ... payable under the two policies taken by the deceased, but he
would receive that amount merely as an agent or trustee of the heirs
