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Expert Opinion – Ratan Tata sets up a new endowment trust

Our Partner Ketan Mukhija shares his expert views with Economic Times on the new endowment trust by Ratan Tata.

“Multiple trusts and foundations are set up to essentially maintain that such endowments retain their ‘private’ character and avoid their administration being governed by the central/ state legislations governing a public trust. Furthermore, the legal structure used for the establishment of Ratan Tata Endowment Foundation (a company limited by guarantee) is primarily used for industry organizations that require separate legal personality while at the same time permitting collections and investments, and subsequently distributing the proceeds or income earned from the investment of such donations to finance charitable purposes.”

Read the full opinion piece here.

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