WHO WOULD MANAGE ` 40,000 CRORE TRUST?
Puttaparthi (AP), Apr 24: With the passing away of the Sathya Sai Baba, questions have cropped up as to who will manage an estimated Rs 40,000 crore Sri Sathya Sai Central Trust which has been built through donations of millions of devotees and is core of all philanthropic activities under his name.
The question assumes significance as the 85-year-old Sai Baba, born Sathyanarayana Raju, who died today, had not named his successor to head the trust.
The trust established by the 'Godman' in 1972 runs free schools, a University, free hospitals, cultural centres and undertakes development and philanthropic works across 165 countries with money coming from donations of an estimated 30 million devotees.
The empire of the trust spreads across Puttaparthi, Hyderabad, Bangalore, Chennai, Kodaikanal and many countries including the United States. It accepts only cheque or cash donation through banks but details of income and expenditure are shrouded in a cloak of secrecy.
According to estimates, the value of the trust's properties, movable and immovable, could be anywhere between a conservative Rs 40,000 crore and a staggering Rs 1.5 lakh crore spread across globe -- all tax free, people closely associated with the trust said.
The future of this gargantuan empire now hinges on the probable successors who will carry on Sai Baba's legacy through the management of this trust.
Even if the trustees, who include eminent personalities like former Chief Justice of India P N Bhagwati, ex-Central Vigilance Commissioner S V Giri, former CII National President V Srinivasan among others, manage to name a person to chair the trust, whether devotees will accept the name or not, will remain a question-mark.
The trust, however, wants to allay fears of any such "vacuum" in carrying forward works envisioned by Baba. "Institutions like schools, university, hospitals and other organisations are run by respective Trusts. There is or will be no vacuum and we firmly believe that Baba will continue to guide the trustees. The interests of the institutions are paramount," the trust said in a statement issued recently after Sai Baba fell ill.
Lastupdate on : Sun, 24 Apr 2011 21:30:00 Mecca time
Lastupdate on : Sun, 24 Apr 2011 18:30:00 GMT
Lastupdate on : Mon, 25 Apr 2011 00:00:00 IST
- MORE FROM NEWS
- Kashmir
JAH discusses future course of action
‘Majlis Shura to elect new Prez’
WASIM KHALID
Srinagar, Apr 24: The Jamiat Ahl-e-Hadith (JAH) held a Majlis Mushawarat (conference) at its headquarters here on Sunday to discuss the future course of action for filling the post of president in the More
- Srinagar City
Misfortune didn’t come alone for Habba Kadal family
Fire consumed houses; burglars decamp with items , jewelry
SYED IMRAN ALI HAMDANI
Srinagar, Apr 24: Misfortune didn’t come alone for Ghulam Muhammad Sofi when devastating fire struck Habba Kadal area of Shahr-e-Khaas past week. While his humble dwelling was gutted, his other precious More
- Jammu
Fourth phase of Panchayat elections today
Jammu Apr 24: 12: Heavy security arrangements have been put in place for the fourth phase of Panchayat elections which would take place on Monday in eleven blocks of nine districts in the state. Officials More
- Briefs
Train crushes man
Srinagar, Apr 24: A 35-year-old-man died after being hit by a train in city outskirts here on Sunday, witnesses said. They said Ashraf Baba son of Ghulam Ahmed Baba of Yayil Wanbal was hit by a train More
- Business
'Food inflation to be 8.5 pc'
PRESS TRUST OF INDIA
New Delhi, Apr 24: Food inflation is expected to hover around 8.5 per cent in the remaining months of 2011, if the monsoon remains normal as predicted by the meteorological department, according to a report More
- News
Attique’s son, Usman to contest from Muzaffarabad
PaK elections
TARIQ NAQASH
Muzaffarabad, Apr 24: The Prime Minister of Pakistan administered Kashmir (PaK) Sardar Attique Ahmed Khan has formally launched his son, Usman Attique, as a candidate for the upcoming general More


