CHENNAI: Daughter of late actor Ishari Velan, in whose memory Chennai-based Vels Educational Trust was founded in 1992, has moved the Madras high court seeking judicial intervention in the administration of the trust.K Azhaku Tamil Selvi, who is also one of the founders and lifetime trustees of the trust, has sought the court to frame a scheme for the proper functioning of the trust and order an audit of its accounts and related entities. She has moved the suit against her sibling Ishari K Ganesh, his family members and her sister K Mahalakshmi.According to the petitioner, a supplementary deed dated May 13, 2004, was executed without the knowledge of other trustees altering the original trust structure by reducing the minimum number of life trustees, reducing the quorum, permitting removal of trustees by majority and introducing additional administrative provisions.She contended that these amendments were made without unanimous consent and are, therefore, invalid. She alleged that the trust properties were repeatedly mortgaged and its funds were diverted to related entities.“Trust administration lacked transparency. Trustees were excluded from management. Resignation letters of certain trustees were fabricated. Trust deeds were amended without consent. Trust assets were exposed to financial risk and related party transactions occurred without proper approval compromising the educational object of the trust,” she said.Therefore, as an interim measure, she wanted the court to pass an injunction restraining the trust and its other trustees from taking major decisions concerning the trust and to appoint an interim administrator or advocate receiver to manage the trust.The application seeking leave to move the suit filed by advocate S Elambharathi on behalf of Azhaku Tamil Selvi is likely to be listed for hearing this week.
