Mumbai: The Bombay High Court will decide on the issue after a religious trust filed a petition challenging the decision of the National Securities Depository Ltd (NSDL) to refuse it permission for opening demat accounts in the names of five Hindu deities.
"When the Income Tax department has issued PAN cards to these five deities, why should not the NSDL allow opening of demat accounts in their names," the trust asked in the petition, which is likely to come up for hearing later this week.
The deities of the Sangli-based trust "Ganpati Panchayatam Sansthan" are Lord Ganesh, Chintamaneshwardev, Chintamaneshwaridevi, Suryanarayandev and Laxminarayandev.
The trust, belonging to the Patwardhan family, the erstwhile royals of Sangli, had obtained PAN cards in the names of deities in 2008.
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