Asked by: Althea Quelenreligion and spirituality hinduism
Who is the head of Hindu undivided family business?
Last Updated: 11th January, 2020
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Then, who is the head of joint Hindu family business?
Management: The management of Joint Hindu FamilyBusiness is in the hands of the head of thefamily who is known as "Manager or Karta". The Karta has tocarry on the business with care, he has to protect theinterest of the members, he cannot make secretprofits.
One may also ask, who comes under Hindu undivided family? An HUF is a family which consistsof all persons lineally descended from a common ancestor,and also the wives and daughters of the male descendants. Itconsists of the karta, who is typically the eldest person orhead of the family, while other family membersare coparceners.
Subsequently, one may also ask, what is Hindu undivided family business?
Hindu Undivided Family business is a precise kindof business structure found only in India. Thebusiness is managed by the head of the family (eldestmember) and he is called Karta. However, all the members hold equalownership over the property of an ancestor and they are called asco-parceners.
Is Reliance a joint Hindu family business?
Reliance Industries Limited is a Joint HinduFamily business form of business organisation. Thiscompany is engaged in businesses like textiles,energy, petrochemicals, telecommunications & retail. Son ofDhirubhai Ambani, Mukesh Ambani is the present Karta of thecompany.