JUDGMENT :

(Prayer: Original Petition filed under Section 7 of the Charitable and Religious Trust Act, 1920 praying to grant permission to the petitioner-Trust to sell the schedule property to any person offering the best sale consideration for the same and the same will be utilised for the welfare of the Trust.

Schedule of property

All that piece and parcel of land ad-measuring an extent of 5 grounds 1659 Sq.Ft. as per Patta and 5.066 grounds as per title deed comprised in R.S.No.3922/8, Mylapore Village and situated at No.50, Old No.27/6, Chamiers Road, Chennai-600 028 and bounded on the:

North by: Property in Old No.50/1 and New No.93/1,

South by: Chamiers Road

East by: Passage to property in Old No.50/1 and New No.93/1

West by: Old No.49 and New No.91

situated within the Registration Sub-District of Mylapore and Registration District of South Chennai.)

1. This petition is filed to grant permission to the petitioner-Trust to sell the schedule property to any person offering the best sale consideration for the same and the same will be utilised for the welfare of the Trust.

2. The facts as culled out from the petition, are as follows:

(a) The petitioner is a public charitable Trust, established by Philanthropist Late R.Ramaswami for the noble objects of extending medical relief to the poor through well established hospitals and nursing homes, to assist needy students and scholars in pursuit of knowledge to provide relief for poor and handicapped, to assist cultural activities and several other noteworthy causes. The Trust was created under a Deed of Declaration of Trust, dated 27.05.1987 with Sri.R.Ramaswami, his wife Smt.Sushila Ramaswami and Sri.D.V.Muralidharan, son of D.V.Vasudevan, as its first Trustees. An amendment to the Trust Deed was executed on 24.08.1987, whereunder certain clarifications were given with respect to the manner in which the funds have to be invested.

(b) With the noble objects of the Trust in mind, the said R.Ramaswami willed a very valuable property ad-measuring 5 grounds 1659 Sq.Ft. as per Patta and 5.066 grounds as per title deed comprised in R.S.No.3922/8, Mylapore village and situated at No.50, Old No.27/6, Chamiers Road, Chennai-600 028, morefully described in the schedule (for short, as schedule property) to the Trust, under his last Will, dated 24.04.1991. This Will was duly probated, by virtue of which the Trust became the sole and absolute owner of the schedule property. The Trustees of the petitioner-Trust have been given the responsibility of ensuring that the noble wishes of Late R.Ramaswami are duly fulfilled.

(c) The objects of the Trust are charitable and philanthropic in nature, which are as follows:

“3(ii):

(a) to afford medical relief through well established hospitals, nursing homes, healthy centres and the like, which are run not for the purpose of profit.

(b) to assist students and scholars to enable them to pursue their studies, to acquire knowledge, experience and proficiency;

(c) To assist cultural activities by enabling young artistes in classical music and dance to have advanced training through reputed and established institutions like Music Academy and Kalakshetra, to spread knowledge and to promote and advance the cause of education.

(d) to provide relief to the poor and handicapped.

(e) to accept and make donations, grants in cash or in kind for the purpose of the Trust, and

(f) to do all such other things that may be be conducive or necessary for the advancement and the carrying out of the above objects and purposes of the Trust.”

(d) At present, the only source of income for the Trust is the fixed deposits lying in the name of the Trust, which are the donations from Late R.Ramaswami family. The fixed deposits are with Sundaram BNP Paribas and HDFC Ltd. The total amount under the fixed deposits is Rs.17,75,000/- and the interest accruing therefrom is being utilised for the Trust’s charitable purposes. Apart from that, there is no other source of income for the Trust, thereby restraining