The best sentence I read today

by on July 12, 2010 at 2:48 pm in Economics, Law, Religion | Permalink

The deities of the Sangli-based trust "Ganpati Panchayatam Sansthan" are Lord Ganesh, Chintamaneshwardev, Chintamaneshwaridevi, Suryanarayandev and Laxminarayandev.

For the pointer I thank Karthik S.  The context is this:

Can Hindu deities have demat accounts to enable them transact in shares and debentures on the stock market?

The Bombay High Court will decide the issue after a religious trust filed a petition challenging the decision of National Securities Depository Ltd (NSDL) to refuse it permission for opening demat accounts in the names of five Hindu deities.

chris July 12, 2010 at 3:20 pm

If this is approved, who would have standing to claim that the trustees of the account were not acting in the deities’ best interests? And who would have to adjudicate such a claim, on what basis?

Even if it’s founded by people who sincerely believe they are doing the gods’ will, it’s hard to imagine it not being taken over by scammers sooner or later.

quanticle July 12, 2010 at 4:00 pm

Well, lets ignore the religious nature of the entities for a moment. What we have here is a trust managing affairs for 5 other individuals. Whether those individuals are human people, corporations, or deities is immaterial. How different is this structure from a blind trust set up in the name of an actual person?

dearieme July 12, 2010 at 4:43 pm

Next thing you know they’ll be picking those multi-armed ones in the cricket side.

charlie July 12, 2010 at 7:59 pm

There you go, comparing HIndu gods to pets again.

Rahul July 12, 2010 at 10:17 pm

@RV:

Coming from India I know for a fact that most Hindu-temples have their assets held as a trust. Now I am not sure if this technically fits your definition of “for the benefit of a deity”. Just google “temple trust India” and you will find tens of such trusts. Many have assets in the millions of dollars.

Anon July 13, 2010 at 4:43 am

If “in God we Trust ” why not Trust for God?

David Tomlin July 15, 2010 at 8:16 pm

God can own property under Islamic law. I think the term waqf is used for both the property and the body of trustees that actually control it.

The most famous example is the Temple Mount. It has been a waqf since Ottoman times if not earlier. Both the British and the Israelis respected the arrangement, though not without some friction.

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