Trusts

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IndiGo promoter Rakesh Gangwal's family trust on Thursday sold a 1.3 per cent stake in the country's largest airline for Rs 2,933 crore through open market transactions, cumulatively offloading shares worth Rs 14,497 crore so far this year. With the latest sale, the cumulative divestment by Rakesh Gangwal, along with his wife Shobha Gangwal and their family trust -- the Chinkerpoo Family Trust -- stood at Rs 39,532.79 crore, translating to around USD 4.51 billion. Since 2022, Gangwals and their family trust have offloaded a 28.32 per cent stake in IndiGo, according to an analysis by PTI. InterGlobe Aviation, which commands substantial valuation in the stock market, operates IndiGo, which accounts for over 65 per cent of the total domestic air traffic. Following a bitter fallout with co-promoter and co-founder Rahul Bhatia, Gangwal, in 2022, announced that he will gradual sell stake in the airline in a phased manner. According to the bulk deal data available on the NSE on Thursday,

While many first-gen entrepreneurs are now more intentional and strategic about succession, the movement from informal conversations to formal planning is still a gradual and ongoing process

The bank rejected the "malicious and baseless allegations" levelled against HDFC Bank's MD and CEO Sashidhar Jagdishan

Allotments to trusts rose from 847,834 in 2019 to 1.3 million as of March 2025, show statistics from the Income Tax Department, released earlier in April

The Lilavati Kirtilal Mehta Medical Trust (LKMM) filed a complaint against its ex-trustees, accusing them of siphoning off trust funds through fraudulent means and illegal offshore transactions

The charitable trust that runs Mumbai's well-known Lilavati Hospital on Tuesday alleged that funds to the tune of over Rs 1,500 crore were misappropriated by its former trustees and other related individuals. The Lilavati Kirtilal Mehta Medical Trust (LKMMT) has lodged separate complaints with the Enforcement Directorate (ED) and at the Bandra Police Station in this regard. It has also claimed black magic was performed in the hospital premises by erstwhile trustees and related individuals. The complaints allege the misappropriation, uncovered during a forensic audit of Lilavati Hospital's financial records, has impacted the trust's operations and healthcare services provided by the leading private medical facility located in upscale Bandra area. "We filed complaints which translated into FIRs due to the orders of the Bandra Magistrate Court. More than three FIRs have been filed against the former trustees and other related individuals. A fourth proceeding against these individuals

The stance can be changed, and if that doesn't happen, the hawkish underdone will not continue

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Describing India as an outlier in terms of trust levels in various institutions, DPIIT Secretary Rajesh Kumar Singh on Friday said trust in elections and other institutions continues to remain robust in the country. Speaking here at a session on '4.2 billion people at the ballot box' at the World Economic Forum Annual Meeting 2024, Singh said the election is a mammoth exercise in India and follows a very detailed procedure-based system. "We have delivered credible elections for over 75 years, of which 25 years have been through electronic voting machines," he said, adding that he himself has been involved in the election process in various roles earlier in his career as a civil servant. Asked about the issues before this year's election, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary said bread and butter issues and development would be among key factors like any other country, while the performance of the present government in the last ten years would

The flip side is that the donor relinquishes control over the property right away upon gifting it

The government has asked trusts to share the identities of relatives of trustees, settlors, and substantial contributors, along with information about electronic and other modes of payments

CBDT notifies rules, to be effective from October 1

Reach to Teach Foundation has been given a five-year grant of Rs 5 crore by the Murty Trust -- the family foundation of Narayana Murthy and Sudha Murty. The grant is to support the Comprehensive School Transformation Programme that Reach to Teach is rolling out in the Northeast. Murty Trust has pledged support to Reach to Teach Foundation, a statement said, adding that the grant will provide seed support and strengthen Reach to Teach's ability to deliver a credible and sustainable programme. Reach to Teach primarily partnered with the education department of state governments and works closely with other stakeholders, such as parents and the larger community. The organisation also focuses significantly on strengthening the agency of teachers. At present, Reach to Teach Foundation is working in Arunachal Pradesh through a tripartite agreement with Niti Aayog and the Arunachal Pradesh government and looking to expand this work in Meghalaya and Tripura, the statement added.

It is a versatile instrument suited for the wealthy, but it must be drafted carefully

Existing loans pertain to 17 projects; firm proposes to 18 toll road assets and one annuity road asset from the sponsor Singapore-based Cube Highways group

The Edelman Trust Barometer conversely showed rising scores in several autocratic states, notably China

India's super-rich are planning to pass on the reins to the next generation by setting up management trust. Is it to avoid the succession battle or the trust route can better ring-fence their wealth?

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It's exempted from the probate process; courts don't get involved in its execution