British Virgin Islands, constituted in September 2005
(Trust Vehicle), formed part of the trust structure;
C. the Trust was governed under the laws ... British Virgin Islands, constituted in
September 2005 (Trust Vehicle), formed part of the trust
structure; the Trust was governed under the laws
from GOI and SIDBI (i.e.,
the settlors) is an obligation of settlors as per the trust deed
and hence, cannot be treated or added ... himself has held that the trust is a Charitable
Trust Hence, the amount paid by settlors of the trust in terms
of the Trust Deed
cannot be considered as a Trust as per the provisions of Indian Trust
Act, 1882 , in view of the Settlor and the Beneficiaries ... trust. Further, as per Sec. 7 of the Indian
Trust Act, 1882, any person competent to contract can become a settlor of the
trust
cannot be considered as a Trust as per the provisions of Indian Trust
Act, 1882 , in view of the Settlor and the Beneficiaries ... trust. Further, as per Sec. 7 of the Indian
Trust Act, 1882, any person competent to contract can become a settlor of the
trust
cannot be considered as a Trust as per the provisions of Indian Trust
Act, 1882 , in view of the Settlor and the Beneficiaries ... trust. Further, as per Sec. 7 of the Indian
Trust Act, 1882, any person competent to contract can become a settlor of the
trust
SIDBI (i.e. the Settlors) is an obligation of corpus fund received by the appellant
Settlors as per the trust deed and hence, trust from ... from settlors in received by the appellant trust
terms of trust deed cannot be said from settlors in terms of trust
to be covered
planning mechanism and intergenerational transfer of the Trust corpus and
income. This Trust was created by the settlors, Shri Vineet Nayyar and his
wife ... beneficiaries of the Trust, which is the prime objective of the assessee
Trust. By such utilization of the Trust corpus, intergenerational transfer of
wealth
assessee trust.
(iii) A Trust cannot be a beneficiary of another Trust as per section 8 of
the Indian Trusts ... trust created by ITCL, the assessee is an
invalid Trust.
(iv) The initial corpus of `500 for settling the Trust was transferred by
the Settlor
October 2011
has clearly stated that the he was a settlor of a trust outside
India which he had created for the benefit ... hands of the Appellant, who in facts is the
settlor of the trust. Thus, it would be seen that to that extent,
there
owned and now sold by all the trusts membering about 40 trusts set up by the settlor company namely, Bharat Forge Co. Ltd.; Pune have ... Walchand Diamond Jubilee Trust , (supra), a charitable trust was created. The recital of the trust indicated that the settlor was anxious to strengthen the hands
