View: Charitable trusts must not exert corporate control

Anybody setting up a tax-exempt charitable trust today is forbidden to invest the trust’s money in shares. But that privilege continues for the Tatas and Birlas. Whatever the original grounds for an exemption to avoid market disruption were, they cannot hold decades later. Old trusts should be given five years to gradually reduce their equity stakes to a maximum of 0.5%.

from News-Economic Times https://ift.tt/36AoDut