Anaikar Abdul Shukoor Trust Vs
Case brief
What is this about?
Court permitted Anaikar Abdul Shukoor Trust to sell schedule property to Rainbow Foundations Limited for investment in income yielding property, subject to completion within six months.
What did the court decide?
Petitioner Trust permitted to sell schedule property to M/s.Rainbow Foundations Limited for consideration Rs.51,61,76,000/-.
What the court decided
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS (ORDINARY ORIGINAL CIVIL JURISDICTION) THURSDAY, THE 11TH DAY OF JANUARY 2018 THE HON'BLE MR.JUSTICE C.V.KARTHIKEYAN
O.P.NO.465 OF 2017
In the matter of the Charitable and religious Trusts Act, 1920 and In the matter of Anaikar Abdul Shukoor Trust Represented by its Managing Trustee
1.Anaikar Abdul Shukoor Trust represented by Managing Trustee, A.Shafeeq Ahmed, Registered office at Anaikar Complex, 1st Floor, No.10/9, Mattukara Veerabadran Street, Periamet, Chennai 600 003
2.N.Mohamed Zackriah, Trustee Residing at No.3/4, Valliammal Road, Chennai 600 007 3.K.Khaleelur Rahman, Trustee Residing at 12, Venkatachalapathi Street Kellys, Chennai 600 010
4.P.A.Aqeel Ahmed, Trustee, No.16, Sterling Road, Nungambakkam, Chennai 600 034 5.A.Khaleeq Ahmed, Trustee No.70, E.V.K.Sampath Road, Vepery, Chennai 600 007 ...Petitioners
2
Original Petition praying that this Hon'ble Court be pleased to permit the Petitioner Trust to sell the Petition mentioned property for investing the same in a income yielding property
This original petition coming on this day before this court for hearing the court made the following order:-
Issues for consideration
2 issues framed by the court
Whether the testamentary trust should permit the sale of schedule property for investing in income yielding assets
Whether the purchase of schedule property by Rainbow Foundations Limited should be set aside
Parties & counsel
- petitioner
Anaikar Abdul Shukoor Trust represented by Its Managing Trustee
- other
Adaikar Traders and Estates Private Limited
Coram
C.V.Karthikeyan
Case details
As recorded by the court registry
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