Huf & proprietory business related
amol
(Querist) 16 February 2012
This query is : Resolved
sirs pls tell me that whether a Huf can become proprietor of a proprietory busniess of M/s So and so ?
Whether Huf deed is mandatory to be execited ? and whether it must be required to b registred as per Law?
Whether it is mandatory on the part of a Karta of HUF to obtain the permission of the other members of HUF to file a complaint u/s 138 of the NI ACT against a PVT LTD Co?
H.M.Patnaik
(Expert) 20 February 2012
HUF can run a Proprietorship business firm through its KARTA.
HUF DEED may or may not be registered.
Normally, the KARTA can file a complaint u/s 138 of N.I. Act unless otherwise provided for in the HUF deed .
DEFENSE ADVOCATE.-firmaction@g
(Expert) 20 February 2012
HUF concept is legal fiction created by law based on ancient HINDU traditions.
A karta has two faces one is individual and other is karta of HUF.
Far all purposes the karta HUF till the HUF is either further sub divided or comes to an end due to demise of its members is sole in charge for the affairs of the HUF.
Again please understand that HUF does not come in existance by any agreement. All other details have been given above by ld experts.
