ABC Trust is renewed and a new trust deed is there:
"MOA-ABC Trust
Objects of the Trust:-
a) To vest the property of ABC Trust."
What does this mean?
Is the property of ABC Trust(old) transferred to ABC Trust(renewed) by the above wordings?
Or its just that funds of the trust will be vested?
IN MY OPINION IT MEANS....
"TO UTILIZE THE PROPERTY OF ABC TRUST FOR FULFILLMENT OF OTHER OBJECTIVES"
Chirag P Shah & Co. Chartered Accountant
Pune
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