minimum of 2 (two) Trustees and a maximum of
7 (seven) Trustees of the said Trust (with the Trustees from time
to time being collectively ... Nominee Trustee" and collectively as "Nominee Trustees")
Functioning of the Trust
3.1 The Board of Trustees shall hold at least two meetings
giving the status of the first appointed trustees, it is stated that Shri Chandra Swamiji is a trustee for life whereas the settlor Shri Suraj ... Gupta and Shri Pawan Kumar Sharma the other trustees were only trustees for the time being. Two trustees present at a Meeting shall form
purpose of education, medical relief, etc. The company had appointed five trustees, two of them were joint managing directors of Escorts Ltd. and three ... them employees of Escorts Ltd. The ITO concluded that because the trustees were two joint managing directors and three employees of the company, the company
thereafter annually on 31st March each
year.
g. The trustees shall meet atleast two times in every calendar year.
h. To appoint Constituted Attorneys ... said office from that
date.
8) In all meetings of the trustees, two will form a quorum
provided, however, if number of Trustees falls below
been undertaken by the main trustee, his wife and another lady namely, Ninu Sethi. Mr. Satish Sondhi, the managing trustee of the trust is also ... Satish Sondhi and Mrs. Ninu Sethi for travelling to Bhuj. The two trustees went to Bhuj for imparting the techniques of meditation which is fully
President Trustee
was to be the lifetime President Trustee. Further, Shri Sajjan
Kumar, another trustee, was to be the life time Managing
Trustee. Ld. Commissioner ... posts of the trust i.e. President
Trustee and Manager Trustee are reserved forever only
for two families alternatively, as such these conditions
makes
former trustees and
recorded their statements. Namely, (1) Shri S.A. Dave (trustee up to
27October 2016), (2) Shri G. B. Mathur (appointed trustee ... trustee as the sole beneficiary. The further
arguments are summarized as under:
i. That the statements of an ex-trustee and two current
trustees
death of Sardar Sujan Singh (settlor of trust), dispute
arose between trustees. Two suits were filed in Delhi HC way back ... took over the functioning of
the assessee trust by appointing new interim trustees for 1 year to take care of
administration and management of assessee
trustees jointly and severally and as per resolution taken by Board
of trustees, bank operation will be made with signatures of any of the two ... utilized for payment to trustees, and even at the time of
dissolution, no sum shall be distributed to trustees but shall be transferred to
another
That AO has erred in drawing an impermissible internal comparison
between two trustees of differing seniority, experience, responsibility,
qualifications and functional engagement
