📷 Image: Wikimedia Commons / Frederick William Fairholt (1814 – 3 April 1866)
Politics
Gujarat to Adopt Maharashtra Model to Resolve 100,000 Defunct Trusts
✍️ The Economic Times
🗓 08 Aug 2026, 02:04 PM
👁 31
The Gujarat government is reviewing Maharashtra's approach to revive or liquidate nearly 100,000 dormant trusts, aiming to curb financial mismanagement and protect beneficiaries.
The Gujarat government has announced that it will study the Maharashtra model for dealing with nearly 100,000 defunct trusts in the state.
The trusts, many of which have been inactive for years, have become a source of financial uncertainty and potential fraud. Maharashtra’s model focuses on reviving viable trusts and liquidating those that cannot be sustained.
Under the Maharashtra framework, a dedicated committee monitors trust activities, enforces compliance, and facilitates the transfer of assets to rightful beneficiaries or the state.
Gujarat officials said they will form a similar task force, set clear guidelines, and aim to complete the review within the next fiscal year.
The trusts, many of which have been inactive for years, have become a source of financial uncertainty and potential fraud. Maharashtra’s model focuses on reviving viable trusts and liquidating those that cannot be sustained.
Under the Maharashtra framework, a dedicated committee monitors trust activities, enforces compliance, and facilitates the transfer of assets to rightful beneficiaries or the state.
Gujarat officials said they will form a similar task force, set clear guidelines, and aim to complete the review within the next fiscal year.