Question

Q22 (a) Mr. Arjun is a sole proprietor . He has been doing the wholesale business of tea for the last 3 years. The brand name of his tea is ‘Tadka chay’ this is the popular brand of its region . Now Mr. Arjun has been worried about two issues first his business unit is suited in an unorganised sector and therefore he is unable to buy goods on credit from any trader easily. Similarly, banks and other lending Institutions hesitate to extend a long term loan to him. Such a treatment by people produces the inferiority Complex in him . The second issue worrying him is that he has unlimited liability. If unfortunately he suffers a heavy loss in business, his business property and personal property both will be finished. He wants to get rid of these worries. So he contact a business specialist, who suggest a new form of business organisation which will remove all his problems.
In your opinion what advice must have been given to Mr. Arjun by the business specialist ? Explain this Sub type of the form of business organisation with its two features.

(b) A group of eight people decided to make a company and hence approached Sindhwani Pvt Ltd. They helped them in identifying the different business opportunities and suggested to set up a mobile manufacturing company. Before converting this business opportunity into a real project, Sindhwani Pvt Ltd. made certain arrangements for conducting technical and financial and economic surveys.
Identify the steps of stage completed in the above case.
Also, Explain last two steps followed to complete this stage . (3+3=6)
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Answer 1

Answer:

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Answer 2

Answer:

The business specialist must have advised Mr. Arjun to establish One Person Company (OPC) . 

The Indian Companies Act , 2013 , introduces a new type of entity to the existing list , i.e., apart from forming a public or private limited company , the 2013 Act enables the formation of a new entity a one-person company (OPC). An OPC means a company with only one person as its member . 

Rule 3(1) provides that only a natural person who is an Indian citizen and resident in India shall be eligible to incorporate OPC. No person shall be eligible to incorporate more than one OPC or become nominee in more than one such company .

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