Scope of the section relating to declaration by persons not holding beneficial interest in share Declaration of Beneficial Interests in Shares Rules, 1975 framed thereunder

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..... beneficial interest in share ‑Declaration of Beneficial Interests in Shares Rules, 1975 framed thereunder A question has been raised whether provisions of section 187C are applicable to private trusts. Private trusts are governed by the Indian Trusts Act, 1882. That law contemplates the existence of two clear interests, namely, the legal interest which vests in the trustees and beneficial .....

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..... d the shares. It is not possible to limit the application of section 187C on its own terms to the type of constructive trust arising under section 82 of the Indian Trusts Act and if that is the sense to be attributed to the word "benami" occurring in the Statement of Objects and Reasons and the Notes on Clauses preceding the Act, it is of little relevance at the present stage to control the clear .....

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