Charitable trusts-why controlled by big corporate houses

Charitable trusts-why controlled  by big corporate houses

I do not understand why government allows big business houses to control charitable trusts. Charitable trusts are meant for specific purpose mainly to help humanity in one or another way. Charitable trusts should not be allowed to hold more than 1% of shares of for profit organization or Rs 5 crores, which ever is more. Otherwise purpose of giving tax benefit to trusts will be defeated as they will be inclined to deviate from their core purpose and will serve interests of for profit organization. Indian government has allowed new…