case of private trust and to such private trust only section 54 of the Trust Act would apply. But, as we have already stated, though ... trustee of a public trust could invest the trust fund in securities other than public securities if the deed of trust permitted
discharge the obligations referred to in the
trust deed. Under clause (1) of the trust deed, the settlor
directed the trustee to retain with ... clause
(b) of the trust deed as substituted by the trust deed dated
April 28, 1950. The settlor died sometime in 1952 and since
then
provides that if the assessee pre-deceases the settlor and Ramniklal survives the settlor, entire trust property shall on the death of the settlor vest ... assessee produces the settlor and Ramniklal survives her. It is not enough that the assessee predecease the settlor. The trust property does not vest
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
trustees of a trust called Shri Satya Vijay Patel Hindu Dharamshala Trust. The trust was created by a declaration of trust, dated 27th April ... trust money in construction of new dharamshala is an investment of trust fund or its expenditure in furtherance of the trust objective ?
(3) Whether, looking
following persons, namely the first settlor, the second settlor, the children of the first settlor and the widow and issues if any of the sons ... settlor, there second settlor and the said Ravindra, Bipin and Yoesh or the re-marriage of the second settlor if she survive the first settlor
settlors. Under the trust deed, the net income of the trust was to be paid to the settlors during their respective lives absolutely ... joint settlor can be brought within the scope of section 12 , only the absolute interest which such settlor had in the trust property before
credit of the "Dharmada Account" were
held in trust by it and were ear-marked for charity and as
such they were ... customer who paid the 'Dharmada' amount was a settlor
of the trust, that there were as many settlors as there were
customers
held on trusts similar to the original trust.
The remaining 31/2 units were allocated under clause (7)
of the Trust Deed to a fund called ... question, the Tribunal
was correct in holding that the settlor had
created only one trust in favour of several
beneficiaries and not separate and independent
assessee created a trust, whereby he settled on trust certain shares. Under one of the clauses of the trust deed, it was open ... settlor himself; and it was contended that this power to advance a loan to the settlor meant that under this clause the settlor had reserved
