Kaibabistan Assignment

SK Jyotiranjan
MBA BAO/ 022
11M Amritsar
 advantage aswell as what are negative
the
E- What are the
shat are inbenfe too
typical bannen ofa solo proprietorship/
solo trader?

Ant Advantage to have decision

complete control and has capability
1. solo proprietor has
business minimal
power
making
over
typof bushes is

informing
.

this
legal cost enrotared
exempted him paying corporate
2. The tox .

is
3. This business
minimal legal cost
requirement
.

4. Them is a
business
formal
5 .
These are very few

i.
%£%Tproperty can be held personally liable for Me debts and

obligation inocunredosaresvlt of acts

2. The risk extend ,
to
any Inability
committed employee of the company .

by card decision fall on the shoulder of the

3. All responsibility busmen

sole propntor .

hesitate to invest in side popularship .

4 .
The investors .

may
9¥ What are the legal formalities required to fast a sole

trader business ?

^^¥ Busirnesliscense
Incense required by the local / state / central / gort
The business
here to be obtained However shooting a sole proprietorship
automatics
.

baton
legal formalities
•

reopened
or
say
.

no

%EfIIJY.LI?-teonmwb-registration of the tax

be obtained
are .
born the relevant ta

celebrity . some

1. VAT / Cst Tbt / + for

dethrg good
service tax ! for all device providers
2. Reg
3. Professional tent for business employing professional
4 Est / PF
Peg £ For business hurry employee
.

account
③ current bank
Opening a

a current bank account in the name of psopntssh.phsmi.fm

opening popular ship
fat step of twopenny
a .
Topk-Bparrtnorih.PE#Nhat
is the defamation

the relation
of partnership )
between person
who have agreed to
An# partnership is

argof them
share the profit of a business conned by all or

with
for all Person bore enter into partnership one

acting collecting atoms

.

and
another are called individually partner and

under which their busmen is earned on .

is called
the name

term
'
name .

what are the advantage as well as what ase 1h ,

negative of a

II form of a business ?
partnership
An⇐→%nÑhp are
easy
to stent in

is
most cases she
only
merit for shooing a partnership partnership deed .

reopens
in a
partnership from is generally
→
The decision making process
concept of passing of resolution Any
there
.

no
fast as is
toasixteon
from undertake
partner in a partnership can
any
behalf of the firm .

on
from is easier than of sole
Fond
fora partnership
→
raising
proprietorship .

it
→ The risk use shared equally among the partner making
less risky than
sole proprietorship .

*
Negative
→ As all partner share equal not ,
one single
wrong in
decision
by eren
losses
one partner can lead the from 4 all the pastries heavy .

Fm conhore
The maximum number A member of a partnership is zoo-25 .

→
of
awaydirectionlesspossibility
takes the leadership
→ The combined ownership
leads to at foams
& lock of Hader ship operation .
→ A partnership from can operate much of structure or
regulation
distort the general public
This
leading often to
among
partnership term may bdiootred
due to death
→ A or
insolvency of a
until
abrupt dissolution hamper the business
pardner such
as .

→
partnership from
don't horecx legal status .

actfhm.AE meaning of
law what is the expression
9-3 In partnership
,

that the partner meme is Fr " An act of the

ThabihtyThe
to the beckon 21A) :
from
"
.

According actor omission on by all the partners or

An act of Fm any
"
means

agent of the from which gives rise to aright

by any parameters against
or

the from
one or
.

enforceable by
liability of individual the partners towards each other
the
.

What
the collective ldabihty of postmortem
are
q#
well as towards
.

as

remuneration for
most entitled to receive
AnI→ A partner is

the conduct of
business
part
.

in
taking
The partner are entitled to share profit equally and shall
→
to loss
contributes equally
.

entitled to interest payment the capital

on
→ when partner are
the interest shall paid only cuff profit
order
sasin bed by him
.

the km for lots caused to

→ A partner shall indemnify any of the from if
conduct of the business
by neglect
his / her
the in
.

→ In unlimited liability partnership every , partner is liable, jointly

form has done while
other parameter for all the acts
with
Ihle / she is partner .

the business of the firm .

bound to on

→
partner om carry
to the greatest commas advantage
→
each other
and faithful
to
just information of all
.

→ be the
and full
→ to sender true account
the term to
any partner
affecting
.

things
 at dpoorides
cE_ Wharf are the legal option that partnership
life case to Hector the Unpaid balance of the price
a creditor to
supplied to the firm
mini truck
.

fr the
creditor all
act a sue any or
partner
partnership
can
per the
.

An As
Collett crony partner ispartnership
liable in a

rely
.

as
individually or

balance be recovered from personal asset of

Therefore unpaid
. the
con

firm
the partners of the
.

the creditor to proceed

9€ In such event does partnership allow only
dormant partner ?
against a
that
low state every partner is liable
severally
-

Ant ya partnership for all the act of the from while

partner
.

all other
and jointly
he / she partner a
that for emery af of
is .

of and several liability is

The significance joint

be sued individually orlard jointly with other
from partnera
can -

postmen Thus
is liable and can be sued
the dormant partner by
balance
eiredntor for unpaid
.

the

Topic
-
C : The company
→

What the legal feature/ attributes of a

company on a
II. are

distinct business enterprises ?

created when it is registered under the
An →A company is
into existence from the date mentioned
" Act
"
It comes
Company incorporation
.

urhficate of
.

in the
7 for public and for
minimum
numbers employee is 2
→ The
private .

artificial legal person

and is
→ The business enterprise is an

the law
separate legal entity by .

repeated as a
→ As the company has a
legal distend
identity ,
it is independent of
its owner The creator of the company can ream their
.

money
only San the
company and property of company the .

Individual member can't be need on behalf of the company q

→
is not liable for individual debts of its number
the company
similarity
.

→ The life of company

is death ,
insolvency or retromerit of ,
any
or all stakeholders or director
The
company can .
be created and
dissolved only through legal proceeding
.

seal has
substitute of signature for the company
a common
,
→ As a
out
beed provided by the law with its name
engraved .

be a limited by shares or company

→ A company may company
company blanked by liability
In shares
limited by gorrentee .

limited to vnpaad value of share .

of members is
ite corporate name
get
.
sue in
consul or
A company
delegated management
→ .

has
A company interest free money from the public
→

→ A company con collect

public Issue or
through perak
for its business by making a
securities
placement of shares 4 other
.

procedure / steps necessary for the

incorporation
9- what legal are

of the company ?
for Dink Director Identification number) It is an unique
AMI Apply
.

→
anted to director of the company according
identification number which is
to section 152 153,154
of company Act 2013 .

name of
for approval Company shall
give proposed
→
Apply name
for approval of names The
.

Roc ( Register of company's

.

to
company other company name
name shall not be resembled to any
→
upload the SPIC form 1h11 -32 , 1h11 -33 ,
INC-34 in MC
Afnmnty
of corporation attains) for incorporating the
company :
d) INC -32 ? It contains the detail of the
compony
like shot of form
company; the dcmaf company
ele
the-1 the
type of
.

② Imre -33 ? MOA it is a constitution of a company which contain all the

objects of the company .

③ INC -341 AOA It is a document while contain rule and regulatory

management of
.

the
,

to the internal company

relating
.

fee shall be paid

After uploading
the above form , registration
towards Roc documents after they have be
verify
.

all the
The MCA will
incorporation certificate
→
made 4 the
effed and payment issue

business
this the company can start its
Altar
constitutional
scope of
's
What is the meaning and
a
company
9£
MOA 4 the AoA >
documents :
of the
Add It defines contribution and the scope of power
the
MOA ! is built
which
It is the foundation on company
.

company It is latently
.

object for which company famed

is .

→ It contains
the itconit
boundary
cross
operation 4 determine
.

its
scope of
power and rights of company
about the
.

detail
→ It contains
Itis a public
document ( see 399 of the companies Ad 2013) , and -

→
who enter into a contact with company
is

thus person
any knowledge of MOA
to here
expected
.

from
company depot
the
no oercvm stone can the
→ under
MOA
provision sparked
.

in

→ mob contains !
-

for public limited nome mut be limited

least as
* Name clause t
.

limited
word for prorate limited Private
"
.
.
,
 * situation clause 1- Name of the state
clause qacxilony object of the company
☒
Object I. Main

*
liability clause ? Details of liability of members

→
capital clause 7 Total capital of company .

salon her
Detail, of
.

☒
Jusmpteon clause ?

A_A The AoA

speedy the internal regulation of the
company .

It contains the bye Iausrf the company

.

The AOA must have the following component

must contain the regulation for the management of 1h ,

①
Regulation : AoA

company
.

accordance with
Inclusion matter : Astute must specify all matter in

rule
" "I for entertainment : AOA must contain provision for
provision
entrenchment (fortification or protection)
Hoverer unlike Mort , AoA can be altered by passing a spelled
resolution

0¥ What are the advantage as well as

disadvantage of incorporation
from of
/ formation of company
. business )

9¥ Advantage
existence after registration
→ Independent corporate
1- A
comparing
is independent
with corporate personality
which
becomes rested ,

and distinct from its member

.

of
-

→ limited liability !
The
company being
a
separate entity ,
leading
life Usenet
the member liable Frits debt
its own business ,

→ perpetual sscecieenion ÷ An incorporated company never dies .

 the shams other interest of any members
→ Transferable share : or

transferable the provided by the

shall be movable property ,
in manner

article of the
company
→
separate property ÷ The
company
is capable of holding and

property in its own name . None of the member can claim

enjoying
asset
ownership of the company
ch be wed mats corporate name
be swear
→ A company can

→ A company attracts professional managements interest free money from

→ A company get the poevilege of collecting
public for
its buttress
the
.

* Disadvantage become necessary to be

sometime it
→
lifting the corporate Veil :
made personally
look at
behind corporate veil .
They are
person reunite the undesirable purpose
liable for usury the company or

case
this is done in following
to determine the legal character of
it
d) When become
necessary
Corporation
benefit
for revenue hadvlent purpose
conceived and bought forth for
when company
"I or trust & government company
Agery
a) under statutory provision .

offam.lt#mbwof incorporation very expensive

is a
Cbl Formality 4 expense :

formality to
be compiled with boots onto

the
of
formation of His company
asd administration its affairs

bore the benefit of only

not citizen ! A company can

c) Company is

such fundamental sight

on one
generated to
every person whether a

citizen or not .
 you
like to work for a
company
or would
you like
Q Would

it start one of yur own .

2

to work for rather than start

company
a
An¥ I would prefer a

to go for a company
I dont have the knowledge
company as

who will oetfm behalf

agent
" on
Two human
Who are the
'-

QG_
Kaba broker ?
"

:
"
Kumar
of the company
.

Corporation
AF
the
make financial investment in

stakeholder !
They them to elect director .

which entitle
to 's

Boaodf director ! Their key purpose

is ensure
company
→
the administration and
-

prosperity by managing
decision
taking strategic .

decision for
do there Two human agent
"
take
9¥
"

how
Explain
company 7
the .

the owner of the

company They .

⑨ Shareholder ! shareholder on .
since then are
company their
.

in
hared money their
they may not have
of shareholder in the
company ,

large number for day k

day activity for then
deforming
.

the decision power liable for

decide the board of director who become
propose they
,

managing company
.

with lot of industrial

director are people ,

⑨ Boardrfdroector !
intravenous of
them area of expertise
and aware of the
organization
experience
to wnkfm the betterment of the .

are supposed management to keep control

They appoint CEO 4 upper
take decision to made in company hasto
They decision to be
over organization .
Any major
be approved by Bob .
Cf who has the right to apply for patent for the new 4
radical intention The original inventor or the original
company
-

company ?
Ah patent lies
apply for
to with the employer
The right swashk
Ltd with the name of Ms Kumar
Kumar's Kaba broken of way
.

inventor as the invented it on the earn ,

mentioned as
innovation 4 new product development
of
.

the
technical area

working on

which the can best commercialise )

QI the legal method by company
Explain of the potential machine
the economic gain
leverage
employment agreement
thus critical path psetamirg.to the
'

" a
9m£ In the
/

ownership to the It onion the

of intellectual property
.

employer ownership created by the employee

to wall intellectual property .

company any employment with the

of his her company such
.

or
1h , courses
dummy ownership of discovery
agreement is called an Assignment of invention .
or .

of such an agreement the employee may have the ownership

In abuse
of the property the mdnndvul
intellectual he or she has created while
☒
ight ,
even if
was
specifically
for the company
.

waking to invent a particular packet/ process .

hired
What the name of 1hr corporate offense committed by Mo Yah
¥ is

Arhih Kumar ?
Drrkhmde 4mm
corporate offers committed bonding here is insider .

the name of
company stock or
in other newly
Ay ofa public
"
by
It is braiding to non
alien
information about the company
public
.

with
-

individual distributor of KKL 9 he

gone critical no,

here is one of ,

yah
Mr
disclosed information to friend Cardstock his
broker ) .
Mr Ashish Kumar

situation for personal gains

.

who leverage this

 of the doctors of corporate veil
9¥ What is the meaning .

It is a legal concept
which reponate the legal identity of the
company from
the
it member .
Hense the member Are shielded from liability ornery out

's action 4 Navona

of
.

company
doctor of lifting the corporate reitz
What the meaning of
9¥
is

situation might awe where the corporate

There could be a times a

An⇐ An
of word to commit frauds & do illegal activity .

personally company a
act the
of any such
such
doing
in a case
is not capable
,

cpihfiaal person be removed to identify the

perron of
corporate personality has to
the corporate veil
lighting
.

is known as

personsability responsible This

Itn
.
oological
behind company
It refers
to the possibility of looking an exception to
the members liable as
make
personality to
veil
of corporate
.

doctsen t.tt ed/ pierced

the circumstance when the corporate vet is

Q-I-wh.ch are
Act 2043 aswell as
by the judiciary ?
under the company .

characteristic of
to determine the legal
AE ay
when
it become necessary
Corporation .

character when person

in detach
will amuse an
enemy whenever
The company ornery country
or
residents in an
of affairs
are
control wait
control of enemy
In such a case
under the
resident one acting
.

can use this tool .

⑥ for benefit of revenue :

the Deponte existence of a -

company many
be
disregard when the

to have been formed is

it
purpose for
which appears tfack
the
only of traces
The pneipul is applied when
the
.

dubious method for tox erosion

indulging
evasion in .

are
reveal that the companion fraudulent
concerned of brought take for
'

can
When the company
①
its members are
purpose
.

when
be restrained from acting
A company
can

restrain covenant and hare incorporated the

company
bound by
a

the covenant .

to escape
only
 ⑨ or trout and government company :
Agony
company maybe ignored
where it is
estimate of the
The separate count insist upon very strong evidence forth , ,

agent The
being used
as an
.

purpose
The act itself imposes personal liability in

⑨ Under statoy provision :

e Hotbed behind the Corporation .

the person
certain cases upon
the of company
describing
name
.

EGI A contract is made

by mis

defraud creditor
corned on
only to of
.

is
liable for dishonour
Business
→

Direction of a company contre held criminally

→

cheques
company instrument Action)
Negotiable
( section 13h14