Appointment of trustee in trust for csr
This query is : Resolved
SREENATH P.
(Querist)
18 January 2018
I have a query related to creation of trust by a public limited Company and appointing its whole time directors as trustees.
One of the Company proposed to establish a trust for spending it's CSR expenses through a Trust created by that Company.My queries are;
1. Can the Company appoint it's MD and Whole Time directors as sole trustees of that trust?
2.Whether permission of shareholders of the Company is required for creation of Trust?
One of the Company proposed to establish a trust for spending it's CSR expenses through a Trust created by that Company.My queries are;
1. Can the Company appoint it's MD and Whole Time directors as sole trustees of that trust?
2.Whether permission of shareholders of the Company is required for creation of Trust?
CS Mitesh Mehta
(Expert)
29 January 2018
1. Yes. A Trust promoted by the Company can be controlled by the Company. There is no requirement of having Independent management or Directors in such Trust, i.e. the Director or his relatives can be the Trustees in such Trusts.
2. No.
2. No.
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