Director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 June 2013
Sir,
Can a memeber/trustee of a charitable trust be a director in a company as a representative of that trust??
If so, the trust can invest money in that company???
Thank you.
Madam,
A public charitable trust established under Bombay Public Trust Act, in Gujarat, whose main object is educational activities , running schools . Now the said trust is interested to become promoter of a company to be formed, in representative capacity to invest funds. The object of the said company shall remain to purchase a land and to construct the building on the same and the said building will be given on lease to the said public charitable trust for running school.
Can a memeber/trustee of a charitable trust be a director in a company as a representative of that trust??
If so, the trust can invest money in that company???
Thank you.
Madam,
A public charitable trust established under Bombay Public Trust Act, in Gujarat, whose main object is educational activities , running schools . Now the said trust is interested to become promoter of a company to be formed, in representative capacity to invest funds. The object of the said company shall remain to purchase a land and to construct the building on the same and the said building will be given on lease to the said public charitable trust for running school.
CA.Vinita Gupta
(Expert)
11 June 2013
What is the nature of the trust. Public or private discretionary. What are the objects of the trust? Does the moa and aoa contain clauses for investment
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