Question

Mohit was born and brought up in Punjabi Bhag, Delhi. He wanted to start a garments

manufacturing unit in Rohini. His father suggested to go for Sole-proprietorship. But he wants to

start a company. But his father did not approve of his idea, as according to him one person cannot

open a company. But Mohit insisted that he wants to form a company by raising funds from public.

i) Can Mohit form a company?

ii) What kind of company can be formed by him?

iii) What are the restrictions on the business carried on by these companies?​

Answer 1

Answer:

1.yes

2.partnership or joint hindu family businesses

3.in partnership only 20 partner