This document summarizes different forms of business organization in India. It discusses sole proprietorships, partnership firms, and joint Hindu family firms. Some key points covered are:
- Sole proprietorships are owned and managed by one person who has unlimited liability. They are easy to form but have limited capital and managerial ability.
- Partnership firms require an agreement between partners to share profits and have features like implied agency and unlimited liability of partners. They allow for larger capital but can lack stability.
- Joint Hindu family firms are formed by operation of law between members of a Hindu undivided family. They provide continuity but can have restricted membership and lack of incentive or stability.
Code of civil procedure 1908 pleading plaint written statementDr. Vikas Khakare
This explains what is pleading, rules of pleading. Plaint, its contents, when it can be amended. Written Statement, its contents, set off and counter claim.
Background of Company Law in England,
Background of Company Law in India,
Definition of Company,
Nature & Characteristics,
Features of Company,
Lifting the corporate veil,
Types of Companies,
Formation of a Company,
Memorandum & Article of Association,
Prospectus,
Share & Share Capita,
Company Management & Director,
Meetings,
Borrowing Powers,
Debentures & Charges,
Accounts & Auditors,
Prevention of oppression & Mismanagement,
Winding up,
Code of civil procedure 1908 pleading plaint written statementDr. Vikas Khakare
This explains what is pleading, rules of pleading. Plaint, its contents, when it can be amended. Written Statement, its contents, set off and counter claim.
Background of Company Law in England,
Background of Company Law in India,
Definition of Company,
Nature & Characteristics,
Features of Company,
Lifting the corporate veil,
Types of Companies,
Formation of a Company,
Memorandum & Article of Association,
Prospectus,
Share & Share Capita,
Company Management & Director,
Meetings,
Borrowing Powers,
Debentures & Charges,
Accounts & Auditors,
Prevention of oppression & Mismanagement,
Winding up,
Maintenance under hindu_marriage_act-1955Trisom Sahu
The most challenging part when the situation of separation of married couples comes in front of the court is to decide the maintenance keeping in view that the rights of each of the party is not hampered.
Therefore, the legislators took the pain of inserting the sections regarding to maintenance in the Hindu Marriage Act-1955. In this paper I will be throwing some light on the various provision of the Hindu Marriage Act - 1955 which concern the maintenance and the interpretations made by various courts of law in India.
The maintenance is mainly described explicitly in section 24 and section 25 of the Hindu Marriage Act-1955.
Sec.24 emphasizes on maintenance pendente lite and expenses of the proceedings and sec. 25 talks about the permanent alimony under the Hindu Marriage Act-1955.
Maintenance Pendente lite and expenses of proceedings (Sec.24): -
The provision for maintenance pendente lite and expenses of proceedings is given in section 24 of the Hindu Marriage Act - 1955, which is stated as follows: -
24.Maintenance pendente lite and expenses of proceedings: - Where in any proceeding under this Act it appears to the court that either the wife or the husband, as the case may be, has no independent income sufficient for her or his support and the necessary expenses of the proceeding, it may, on the application of the wife or the husband, order the respondent to pay to the petitioner the expenses of the proceeding, and monthly during the proceeding such sum as, having regard to the petitioner's own income and the income of the respondent, it may seem to the court to be reasonable:
[Provided that the application for the payment of the expenses of the proceeding and such monthly sum during the proceeding, shall, as far as possible, be disposed of within sixty days from the date of service of notice on the wife or the husband, as the case may be.]
Legislative Changes: -
An addition of a provision was done was done to the existing section in 2001 by providing for disposal of maintenance pendente lite and expenses of the proceeding within a period of 60 days from the date of service of the notice on the wife or the husband.
Objective of Section - 24: -
The provision of maintenance pendente lite is created by the legislators to provide financial assistance to the indigent spouse to maintain herself or himself during the pendency of the proceedings and also to have sufficient funds to carry on the litigation without suffering unduly due to shortage of funds. In the case of Hema v S. Lakshmana Bhat the Kerela High court held that husband too can claim for alimony pendente lite. The court in this case observed that in providing for alimony or maintenance pendente lite for both the spouse the concept of equality has been introduced in maintenance proceedings.
The rationale of the Sec.24 is to provide financial assistance to the indigent spouse and to ensure that no material fact or evidences is concealed due the financial incap
The term estoppel is said to have been derived from the French term 'estoup' which means 'shut the mouth'.
The doctrine of estoppel is a rule of evidence contained in Section 115 of the Evidence Act.
Transfer of movable property under Private international law is effected by the act of parties or by operation of law. And there are different theories governing transfer of tangible and intangible properties.
this ppt is very much useful for the students pursuing First year in B.COM for the Company Law subject. Specially the students of Saurashtra University.
Complete Notes on Companies Ordinance, Paper LL.B. Part II.
.....................All students are advised to download and Prepare yourself. Shah Muhammad Zarkoon.
University Law College Quetta.
Winding up of a company and Limited Liability Partnership (LLP)B.H. Loh & Associates
Winding up is a process where the company dissolve from the registration. We will guide you through on how to step by step to strike off from the registration.
Maintenance under hindu_marriage_act-1955Trisom Sahu
The most challenging part when the situation of separation of married couples comes in front of the court is to decide the maintenance keeping in view that the rights of each of the party is not hampered.
Therefore, the legislators took the pain of inserting the sections regarding to maintenance in the Hindu Marriage Act-1955. In this paper I will be throwing some light on the various provision of the Hindu Marriage Act - 1955 which concern the maintenance and the interpretations made by various courts of law in India.
The maintenance is mainly described explicitly in section 24 and section 25 of the Hindu Marriage Act-1955.
Sec.24 emphasizes on maintenance pendente lite and expenses of the proceedings and sec. 25 talks about the permanent alimony under the Hindu Marriage Act-1955.
Maintenance Pendente lite and expenses of proceedings (Sec.24): -
The provision for maintenance pendente lite and expenses of proceedings is given in section 24 of the Hindu Marriage Act - 1955, which is stated as follows: -
24.Maintenance pendente lite and expenses of proceedings: - Where in any proceeding under this Act it appears to the court that either the wife or the husband, as the case may be, has no independent income sufficient for her or his support and the necessary expenses of the proceeding, it may, on the application of the wife or the husband, order the respondent to pay to the petitioner the expenses of the proceeding, and monthly during the proceeding such sum as, having regard to the petitioner's own income and the income of the respondent, it may seem to the court to be reasonable:
[Provided that the application for the payment of the expenses of the proceeding and such monthly sum during the proceeding, shall, as far as possible, be disposed of within sixty days from the date of service of notice on the wife or the husband, as the case may be.]
Legislative Changes: -
An addition of a provision was done was done to the existing section in 2001 by providing for disposal of maintenance pendente lite and expenses of the proceeding within a period of 60 days from the date of service of the notice on the wife or the husband.
Objective of Section - 24: -
The provision of maintenance pendente lite is created by the legislators to provide financial assistance to the indigent spouse to maintain herself or himself during the pendency of the proceedings and also to have sufficient funds to carry on the litigation without suffering unduly due to shortage of funds. In the case of Hema v S. Lakshmana Bhat the Kerela High court held that husband too can claim for alimony pendente lite. The court in this case observed that in providing for alimony or maintenance pendente lite for both the spouse the concept of equality has been introduced in maintenance proceedings.
The rationale of the Sec.24 is to provide financial assistance to the indigent spouse and to ensure that no material fact or evidences is concealed due the financial incap
The term estoppel is said to have been derived from the French term 'estoup' which means 'shut the mouth'.
The doctrine of estoppel is a rule of evidence contained in Section 115 of the Evidence Act.
Transfer of movable property under Private international law is effected by the act of parties or by operation of law. And there are different theories governing transfer of tangible and intangible properties.
this ppt is very much useful for the students pursuing First year in B.COM for the Company Law subject. Specially the students of Saurashtra University.
Complete Notes on Companies Ordinance, Paper LL.B. Part II.
.....................All students are advised to download and Prepare yourself. Shah Muhammad Zarkoon.
University Law College Quetta.
Winding up of a company and Limited Liability Partnership (LLP)B.H. Loh & Associates
Winding up is a process where the company dissolve from the registration. We will guide you through on how to step by step to strike off from the registration.
1. Sole proprietorship
2. Joint Hindu family business
3. Partnership
4. Joint-stock Company
5. Cooperative Societies
Sole Proprietorship
It is a form of organisation owned, managed and controlled by an individual (also known as a sole proprietor) who is responsible for bearing all the risk and receiving all the profit.
Features
• The sole proprietor can establish and close the business without any legal formalities.
• The liability of the sole proprietor is unlimited.
• Being the sole owner, the sole proprietor bears all the risk and receives all the profits.
• All the decisions are taken and implemented in the organisation by the owner.
• Owners and businesses have no separate entity and are considered one in the eyes of the law.
• Even in case of a lack of business continuity, the business can continue until the owner wants.
Advantages
• Prompt decision-making as all the decisions are to be taken by the owner.
• Being a sole owner, it is easy to maintain business secrecy.
• The owner enjoys all the profits as there is no one to share profits.
• A successful business provides satisfaction to the owner and a sense of achievement.
• No legal formalities are required for a business’s formation and closure, making it easy to start and end the business.
Disadvantages
• Due to limited resources, a business can be funded from the owner’s savings or money borrowed from friends or relatives.
• The business’s continuity depends on the owner’s health and state of mind.
• If the business fails to repay debts, the sole proprietor’s personal assets are at risk.
• One person may not possess the ability to manage all the functions.
Joint Hindu Family Business
In this form of business organisation, the business is owned and managed by the members of an undivided Hindu family, with the possibility of three successive generations as members of the business.
Features
• The business is formed with at least two members of a Hindu Undivided Family having ancestral property. The Hindu Succession Act, 1956, governs it.
• Except for Karta, all the family members have limited liability up to their share in the business property.
• Karta has the right to control all the activities in the business organisation.
• The business can be discontinued based on the consent of all the members of the family.
• Membership in the organisation is by birth.
Advantages
• Karta has complete control of the business, thus effective decision-making is ensured.
• The business continues till all the members wish to continue, and control is transferred to the next elder member in case of the death of ‘Karta’.
• Members of the family enjoy liability limited to their share in the business party.
• All the work is done with the common objective of growth as the family members have a sense of belongingness and loyalty.
Limitations
• Due to limited financial resources, businesses can be funded mainly from ancestral property.
There are different forms of business organisation which are discussed in this chapter. These include the following:
Sole proprietorship
Joint Hindu family business
Partnership
Joint-stock Company
Cooperative Societies
Holding & Subsidiary Companies
International organizations
MNCs
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
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Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
6. One man
Ownership
& Control
No legal
Formalities
Unlimited
Liability
No
separate
entity of
the firm
No legal
dissolution
& complete
secrecy
FEATURES
7. MERITS OF A SOLE TRADING CONCERN
Easy Formation
Quick Decision and Prompt Action
Highly Flexible
Direct contact with customers
Business Secrecy
8. MERITS OF A SOLE TRADING CONCERN
Efficient Management
Independent living
Better Employee Relations
Social Utility
9. Demerits of a Sole trading concern
Limited Capital
Unlimited Liability
Limited Life
Limited Managerial Ability
No Economies of bulk trade
11. Definition of Partnership
According to Section 4 of the
Indian Partnership Act, 1932,
Partnership is the relation between
persons who have agreed to share
the profits of a business carried on
by all or any one of them acting for
all”.
12. Essential Characteristics of Partnership
• Agreement
• Business
• Profit motive
• Management
• Implied Agency
• Unlimited liability
• Utmost good faith
13. Merits of Partnership
Easy Formation
Large Financial Resources
Flexibility of Operations
Division of Labour
Prompt Decision Making
Balanced Approach
Ease of borrowing
Easy Dissolution
Tax Advantage
14. Demerits
Limited finance
Unlimited liability
Lack of Stability
Delay in Decision Making
No transferability of
interest
Lack of secrecy
Lack of harmony
16. • The name of the firm
• Name and details of all partners
• Date of commencement of business
• Duration of the firm’s existence
• Capital contributed by each partner
• Profit/loss sharing ratio
• Interest on capital payable to partners
• The extent of borrowings each partner can draw
• Salary payable to partners, if any
CONTENTS OF PARTNERSHIP DEED
17. Salary payable to partners, if any
The procedure of admission or retirement of a partner
The method used for calculating goodwill
Preparation of accounts of the firm
Mode of settlement of dues with a deceased partner’s
executors
The procedure followed in case disputes arise between
partners
CONTENTS OF PARTNERSHIP DEED
22. It comes into existence by the operation
of law and not by an agreement or a
contract.
The members of a Hindu undivided family
who are called co-parceners.
Joint Hindu Family Firm
23. Hindu Law of Inheritance
The
Dayabhaga
System
The
System
24. Merits
of
JHFF
Continuity
Assured shares to all members
Training to younger members
Unrestricted membership
Unity in management
Division of labour
Limited Liability
Better Credit
