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NRI legal services - https://lexlords.com/how-to-avoid-property-disputes/. The settlor formed this Trust out of love and affection in favour of six minors (now major), namely, 1) Master Vimal Kishor Shah, 2) Master Nainesh Kishor Shah, 3) Kumar Grishma Kishor Shah, 4) Master Jayesh Dinesh Shah, 5) Master Utpal Dinesh Shah and 6) Master Monil Dinesh Shah, (hereinafter referred to as the beneficiaries) in the Trust Deed. The mortga- gee, Narayan Sathe, was appointed Receiver of two Cinemas in Poona.

It is a special liability created on purely religious grounds and can be enforced only against the sons of the father and no other coparcener. nThe agreement came about in this fashion. The liability, therefore, has its basis entirely on the relationship between the father and the son. To manage the affairs of the Trust and its properties, the settlor appointed two persons - Shri Dinesh Nandlal Shah and Smt.

In these circumstances, it is urged that if it was the intention of the parties that the decreeholder would be entitled to proceed against the separate property of the sons nothing could have been easier than to insert a provi- sion to that effect in the compromise decree. Saryu Kishor Shah as Managing Trustees. The defendant agreed to undertake this responsibility and as a consideration for that the mortgagee executed the agreement in question. " "(3) It is extremely necessary to explain beforehand the transaction of give and take outstanding between both of us.

The liability of his sons to pay such debt does not rest on the principle indicated above, according to which the junior members of a family are made to pay the family debts. By the impugned judgment dated 18th November, 2014, the High Court of Delhi allowed the said petition based on the judgment in Pune Municipal Corporation, and other judgments following the same, stating: This order was dated 3rd January, 1950. On the other hand, the subject of debts has been dealt with by the author of Mitakshara quite separately and it has apparently no NRI legal services (my blog) connection with the provisions made by the author relating to inheritance and constitution of the family.

4) One Shri Dwarkadas Laxmichand Modi executed a family Trust Deed called "Deed of Kaydee Family Trust" on 06. On the other hand, on behalf of the Corporation and so also for the Collector, it is argued that the award was made by the Special Land Acquisition Officer on 31-1-2008 strictly in terms of the 1894 Act and on the very day the landowners were informed regarding the quantum of compensation for their respective lands.

There is no authority to NRI legal services (my blog) show that it is in any way dependent upon the constitution of the family either at the time when the debt was contracted or when the obligation is sought to be enforced. The portions of the document relevant for the present purpose are as follows. The original land holders thereafter presented a Writ Petition, being Writ Petition No. The Court appointing him required him to produce a surety in the sum of Rs. These persons may hold the shares as trustees and may even be accountable to their beneficiaries and may be brought to book for exercising their votes in breach of trust, nevertheless, as between them as shareholders and the company, they are the shareholders, and as such, have "a controlling interest" in the company.

The Regional Trans- port Authority dealing with the application of Messrs. 1983 as author of the Trust hereinafter called as "settlor" in relation to his properties. [See Inland Revenue Commissioners v. 4375 of 2014 before the High Court of Delhi, on 26th May, 2014, stating that as possession had not been taken and as compensation had neither been tendered nor paid to the petitioner, the requisite conditions of Section 24(2) of The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 would be met, and that, as a result, the acquisition proceedings had lapsed.

The mortgages are there described as the "transactions of give and take. There is undoubtedly apparent force in this contention but there is another aspect of the question which requires consideration. It is, thus, submitted that there was no default on the part of the Special Land Acquisition Officer or the Government and, hence, the acquisition proceedings have not lapsed. No affidavit in reply was filed to the aforesaid writ petition. , dated 28th November, 1949, resolved on 19th January, 1950, that the permanent permits issued to Veerap- pa Pillai should be cancelled, that the route should be declared vacant in respect of the five buses and fresh applications should be invited and dealt with on the merits.

Such family debt, however, stands on quite a different footing from a personal debt contracted by the father which does not benefit the family. Notices were also issued to the landowners to reach the Office of the Special Land Acquisition Officer and receive the amount of compensation and since they neither received the compensation nor any request came from them to make reference to the District Court under Section 18, the compensation amounting to Rs 27 crores was deposited in the Government treasury.

193 shares held by them.