Siddharth Tendulkar (Student CA Final ) (28 Points)
27 September 2014I'm aware that corpus donations/ corpus fund can be used only for specific purposes. Is repayment of loan one of those purposes? Can corpus fund be appllied to repayment of loan?
Sunil S Nair
(Advocate & Legal Consultant)
(66 Points)
Replied 06 October 2014
It will be advisable to go through the terms for which such corpus fund was alloted what was his intention during making such arrangement it can be used only when grave necessity arises when the organizations exixtence is in treat
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