IRREVOCABLE TRUST

Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generati...

The National Company Law Tribunal (NCLT) has admitted Union Bank of India’s insolvency application against Kapil Wadhawan, former promoter of DHFL, for a Rs 3,958-crore default. Devendra Mehta is appointed as the resolution professional. DHFL's cred...

The National Company Law Tribunal (NCLT) dismissed Wilmington Trust SP Service’s (Dublin) Ltd insolvency petition against Spicejet Limited. Spicejet argued that Wilmington was not the corporate debtor and had no right to file the petition. The couns...

Will, gift deed, private trusts are some of the most commonly used methods that an individual can use to pass on the assets to his/her family members. There may be instances where will and/or gift deed does not suit the requirements for passing on t...

Family trusts are effective and convenient, and if used prudently can provide various benefits as a holistic succession planning tool.

This is the third case filed by the company against the airline. Two other cases under Section 9 of the Insolvency and Bankruptcy Code, 2016, have been filed by aircraft lessor Aircastle (Ireland) Ltd and engine lessor Willis Lease Finance Corporati...

The aircraft were deregistered on the request of two Dublin-based lessors, Wilmington Trust SP Services and Aircastle (Ireland), as per a report on TOI. A SpiceJet spokesperson said the deregistration of the jets "will not impact" the operations of ...

The status of an RNOR lies in between that of a non-resident Indian who stays more than 181 days in the country and a regular resident Indian. Under the new law, a non-resident visiting India and spending more than 120 days (<182 days) is treated as...

While assessing whether to set up a PFWT or not, a person must consider the legal pre-conditions. Only a person above the age of 18 and of sound mind can be an author of a PWFT. A PWFT may also be created by or on behalf of a minor provided prior sa...

Twitter CEO Jack Dorsey's push for bitcoin development in India comes at a time when the Indian government is looking to introduce a national cryptocurrency.

According to the tribunal, the assets belonging to an overseas trust does not belong to the beneficiary of the trust, and a beneficiary does not control a trust even if he has the power to appoint and remove trustees - observations that many pulled ...

Delivering the Sardar Patel lecture on governance, Vice President M. Venkaiah Naidu called upon all Indians to work together to usher in the 'Ram Rajya' envisioned by Mahatma Gandhi in which, he said, there is all-round inclusive growth without pove...

The IRB InvlT Fund was registered as an irrevocable trust under the Indian Trusts Act, 1882 on October 16, 2015 and as an infrastructure investment trust.

Trusts help HNIs ensure efficient succession planning and may also result in mitigating tax liability.

Premji, who will turn 70 this month, controls a 73.39% stake in India's third-largest software company, which is worth about Rs 99,500 cr.

Jurists say a son, even an adopted son, cannot be legally severed by his parents, as law treats an adopted son on par with a biological son.

Mufti said it was essential for any aspiring PM to be inclusive and accommodative both on home and external fronts.

There are the lessons from history being drawn - as India’s old money and new money converge - on how its richie rich manage their assets.

Premji transferred close to 300 million equity shares of Wipro, valued at Rs 12,300 cr, held by entities controlled by him to an irrevocable trust.