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Whether there is any distinction between public
trust and private trust. Which law governs public
trusts
Eshanya
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Oct 11, 2010, 10:36:56 AM10/11/10
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Private Trust:
It is formed for private purposes & convinences involving support of
individuals & families.
Beneficiaries are specific individuals. They are ascertained lot.
Public Trust:
It is formed for benefit of public at large in toto or in some
specific part thereof.
' Farman Ali Khan Vs Md Raza Khan'- The object of public trust may be
to benefit an uncertain & fluctuating body in case of a trust of
permanent & and definite character.
'Diokinandan vs Murlidhar', ' CIT Vs Paramahans Ashram Trust'- In
public trust beneficiaries are general public or a class thereof.It is
incapable of ascertainment.
It is not the name of the trust ( which can also be of a private
person) but the object of it which is relevant. That means to say any
'person' can have the word 'trust' in their name. And that solves my
doubt.
Trusts may be registered under " The Societies Registration Act 1860
or The Charitable & Religious Trust Act 1920 or The Bombay Public
Trust Act 1950 or The Companies Act 1956"