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Question
Study the following case situation and express your opinion:
Mr. Raghunath is running a business from the last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.
- Find out the type of business.
- Who is Raghunath?
- What Kiran and Naman are called?
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Solution
- Joint Hindu Family Firm.
- Raghunath is the Karta.
- Kiran and Naman are called as co-parceners.
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