called "Rustomji's Trust Fund" on precisely similar trusts to those of Ardeshir's trust fund, substituting Rustomji for Ardeshir ... without male issue him surviving, the trusts should determine and the trust property should belong to the settlor absolutely. The settlor then took absolute power
trust. Explanation 2 under Section 160 defines what an oral trust is. According to its terms an oral trust means a trust which ... trusts also to form part of the trust fund. For instance in Clause 5 of Sitharatnam Family Trust the trust fund is stated
includes
(a) the creation of trust in property;
Indian Trusts Act 1882.
"3. Interpretation clause-Trust
A trust is an obligation annexed ... hold the trust fund and the investments for the time being representing the trust fund upon trust for the settlor and if the settlor
three trust decides on trust for the purposes set out in the three trust deeds; and the jewellery was settled upon trust with a view ... trustees shall hold and stand possessed of the trust fund upon trust :
(a) To allow the trust fund or any part thereof to remain
relevant terms of the trust deeds. The following are the particulars of the trust properties.
S. No.
Trust deed
Nature of property
Value of corpus ... stand possessed of the corpus of the various trusts in trust for the settlor, his heirs, etc, and that in such an event the trust
possessed of the trust property, the circumstances under which the trust was executed and the subsequent acts and conduct of settlor. It is manifest that ... could only be a breach of trust and would not nullify the trust, but the fact that the trust was never oarried out or acted
himself of control over the trust funds. He concluded that, therefore, the trust-fund remained the property of the settlor.
5. The assessee appealed ... outside the provisions of the trust deed......
Coming to the various clauses of the trust deed......what he (settlor)
can direct under Clause
clause (iii) where the trust is anon-testamentary trust created before March 1, 1970, for the exclusive benefit of the settlor's relatives mainly ... dispute that the trust is a non-testamentary trust created before March 1, 1970. The trust was created on January 27, 1951, by Gunvantlal Jivanlal
upon trust set out in the said indenture.
3. The trust was a family trust created for the benefit of the settlor and his wife ... revoke the trust with the concurrence of the beneficiaries. I hold that the only beneficiaries under the trust is the settlor himself, his wife
testamentary written instrument of trust executed on 4-2-1982 (for short 'trust deed') styled as "Emjak Trust" for the benefit ... beneficiary': the subject-matter of the trust is called 'trust property' or 'trust money': 'the beneficial interest
