Dear Experts,
I request to clarify the doubts pertaining to the Consequences in Resignation of Founder Trustee in a Public Charitable Trust.
I am one of the Trustee in a Registered Public Charitable Trust. In which there are some disputes with regard to Approval of Accounts between the Trustees.
Two of the existing Trustees are living in abroad. They decided to quit from the position of Trustees, While at the same time, the Founder Trustee of the Registered Charitable Trust had also tendered his Resignation.
As per Articles of the Trust Deed "the Trust is Irrevocable."
My doubt is whether if the Founder Trustee resigns, should the Public Charitable Trust should have to merge with some other trust with same doing activity. Or what is the consequences to the other trustee's if founder trustee resignation is accepted in the Trust Board Meeting.
Should the Trust been dissolved or it cannot continue to be a part of trustee, and the Assets and deposits should have to be attached with some other trust?
I REQUEST THE EXPERTS TO KINDLY CLARIFY THE SAME AND EXPLAIN THE CONSEQUENCES IF ANY DUE TO RESIGNATION OF FOUNDER TRUSTEE?
FYI. The Trust was registered in TAMILNADU with the O/o. the Sub Registrar, with the Registered Office of the Trust Jurisdiction concerned.
Thanks in Advance,
Arun M
