Purpose Trust - beneficiary principle

Indian court says Hindu gods can't trade in shares

An Indian watches share prices outside the Bombay Stock Exchange in Mumbai in April 2010. An Indian court has ruled that Hindu gods cannot deal in stocks and shares, reports said Saturday, after an application for trading accounts to be set up in their names.

AFP - An Indian court has ruled that Hindu gods cannot deal in stocks and shares, reports said Saturday, after an application for trading accounts to be set up in their names. Two judges at the Bombay High Court on Friday rejected a petition from a private religious trust to open accounts in the names of five deities, including the revered elephant-headed god, Ganesha.

"Trading in shares on the stock market requires certain skills and expertise and to expect this from deities would not be proper," judges P.B. Majumdar and Rajendra Sawant said, according to Indian newspapers.

The trust, owned by the former royal family of Sangli, in western Maharashtra state, of which Mumbai is the capital, brought the case after successfully securing income tax cards and savings accounts for the deities.

But National Securities Depository Limited (NDSL) rejected the trust's application for permission to open trading accounts, arguing that it would be difficult to take action against the gods in the event of irregularities.

"Gods and goddesses are meant to be worshipped in temples, not dragged into commercial activities like share trading," the judges said.

Ganesha, also known as Lord Ganpati, is one of the most popular and well-known gods of the Hindu pantheon and is worshipped widely in Mumbai and Maharashtra.

Source: France24

it will be enough just to know these to answer the above question

http://www.lawiki.org/lawwiki/Beneficiary_principle
1. The principle that, for a trust to be valid, there must be some person or persons with standing to enforce the trust in the courts. The beneficiary principle is often invoked to explain why English law does not, on the whole, allow the creation of a private purpose trust.
A trust of imperfect obligation is one that is expressed in such a way that it imposes an obligation on the trustee to carry out a purpose, but which can also be construed as a trust to benefit one or more individuals. Such a trust is not an exception to the beneficiary principle.
However, trusts that are valid under the principle of Re Denley (1969) are exceptions to the beneficiary principle. The courts enforce such trusts because there are indirect beneficiaries who possess a sufficient interest to have standing to enforce the trust.

2. possess a sufficient interest to have standingto enforce the trust.
beneficiaries of a trust may end the trust and call in the property from the trustee see also
He was the sole beneficiary of the trust, he asked the court to terminate the trust and have all the property transferred over to him. The court agreed and this has become known as the "rule in Saunders v. Vautier."http://www.bailii.org/ew/cases/EWHC/Ch/1841/J82.html