Query on public trust

This query is : Resolved

Yogesh Modi (Querist)
Follow

17 August 2012 This is regarding a Public Trust, registered in Mumbai in the year 1973 under the Societies Registration Act, 1860 and under the Bombay Public Trusts Act, 1950. The Memorandum of Association and Rules and Regulations of the Trust inter-alia provides provision for Life Trustees. The Life Trustees are not eligible for the post of any Office-bearer. Para 42 ibid provides for amendments. It also contains a Resolution of the Special General Body confirming the Life Trustees.
The Memorandum of Association and Rules and Regulation, 2009 adopted in a Special General Body on 22.03.2009 and promptly submitted to the Charity Commissioner for approval is, however, not approved by him, as yet. The same provides for Permanent Life Trustee in the following Paragraphs:
1) 1.c - The Managing Trustees means the members of the Board of Trustees ………including the living Permanent Life Trustee viz.,………
2) 2.A – The only Permanent Life Trustee to-day is Mr.……….
3) 11 – The Board of Trustees shall be a body of maximum 22 Members besides one Permanent Life Trustee , out of whom 16 shall be elected ………..
4) 41 – Any amendment to these Rules and Regulations can be made only by a Special Resolution passed with two-third majority by the members …………… Thereafter, a Resolution confirming the name of the Permanent Life Trustee is appended to the Rules and Regulations.
You are requested to enlighten on the following:
a) Will it be in order to assume that the delay/non-approval by the Regulatory Authority tantamount to deemed approval of the aforesaid modified ‘ Memorandum of Association and Rules and Regulations, 2009’?
b) Assuming that merely filing of modification tantamount to deemed approval, would it be in order for the Trust to pass a resolution by the Special General Body to add one more Permanent Life Trustee? Or is it necessary for the Trust to submit the requisite form to the Regulatory Authority after getting a suitable resolution passed at a Special General Body to add one more person as Permanent Life Trustee/modify the proviso for Permanent Life Trustee?

Your early reply would be of immense help to us

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

18 August 2012 a. Yes. No communication from charity commissioneer within reasonable time restrictig any such change; itself is regarded as approval. b.The filing of modification must be approved in the subsequesnt general meeting and then filed with the charity commissioneer. Here also the same postulate as in a. above applies.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RADHAKRISHNAN A R

ASHOK KUMAR TEKURU

giriswar

Credible HRM

atul kumar soni

Subscribe Now

Query on public trust

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA