Sushrut (Student MBA) (24 Points)
03 December 2012A certain trust which is a public charitable trust by nature owns a building property in the name of the trust. Can the trust lease its building to a business which is run by the Founder /President Trustee?.
The business is manfacturing of ayurvedic medicines and its main aim is to serve the people. Please advice.
Thanks
ANTONY EDGAR
(CA in Practice)
(89 Points)
Replied 03 December 2012
It depends upom the object clause of the trust deed. If its mentioned in the object clause, they can rent it out.
CAclubindia
