JOINT HINDU FAMILY AN AFFECTIONATE BUSINESS PDF

Meaning: Joint Hindu Family Business is a different type of organization, which is found only in India. As the name suggests, it is the type of organization in which all the members of the Hindu Undivided Family manage and control the business with the direction of the head of the family. It is not a Partnership. It is just like a Partnership where only the members of the family can take part. It is not even sole trading concern, but it is enlargement of sole trading concern in which continuity is guaranteed.

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It is not practised or followed elsewhere in the world. These businesses are managed by all members of a joint Hindu family.

It is one of the unique types of business organisation. Joint Hindu family Businesses are carried from generation to generation. Membership in business is acquired either by birth in family or marriage to a male member of the family. In Mitakshara only male members can become a member of the business. His wife Nita Ambani is non-independent Director of the companies.

It was founded in by Jamsetji. His generations are toady managing the business. Natarajan Chandrasekaran is present chairman of tata sons. At present, Jamsetji generations are the major stakeholders in the company and managing the whole business. The whole family is running the business.

It was established in in Ludhiana. Generations of its founders are today managing the whole business. It has its headquarter in Nagpur, Maharashtra, India. It is an industry which is engaged in the production of food products. It was founded by Shri Ganga Bhishen Agarwal in Rajendra Agarwal is the present chief executive officer of haldiram.

Generations of its founders are today the major stakeholders in the company. Conclusion of joint Hindu family business Conclusion of joint Hindu family business Below is the Conclusion of the joint Hindu family business.

These are also the main feature of the joint Hindu family business. The formation of the joint Hindu family business found only in India. The liability of Karta is unlimited because he is the only decision-makers. On the other hand, co-parceners has limited.

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joint hindu family an affectionate business project wikipedia

It is not practised or followed elsewhere in the world. These businesses are managed by all members of a joint Hindu family. It is one of the unique types of business organisation. Joint Hindu family Businesses are carried from generation to generation. Membership in business is acquired either by birth in family or marriage to a male member of the family. In Mitakshara only male members can become a member of the business.

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Hindu joint family

Family structure[ edit ] Historically, for generations India had a prevailing tradition of the Joint Hindu Family or undivided family. The system is an extended family arrangement prevalent throughout the Indian subcontinent, particularly in India, consisting of many generations living in the same home, all bound by the common relationship. A joint family consists of a husband and wife; their sons; their daughters, and so on up-to generations. Any number of these people may without impacting the legal existence of the family, be decreased.

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Joint Hindu Family Business- Meaning, Examples and Conclusion

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joint hindu family an affectionate business

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