what is the liability of the karta of a joint hindu family businees
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the liability of karta is unlimited WHEREAS the other family members have limited liability....
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The following are the duties and liabilities of Karta in a joint family:—
1️⃣Duty to render account.
2️⃣Duty to realise debts due to family.
3️⃣Duty to spend reasonably.
4️⃣Duty not to start a new business without the consent of the coparcener.
5️⃣Duty not to alienate coparcenary property without ‘legal necessity’ or ‘benefit to the estate’.
1️⃣Duty to render account.
2️⃣Duty to realise debts due to family.
3️⃣Duty to spend reasonably.
4️⃣Duty not to start a new business without the consent of the coparcener.
5️⃣Duty not to alienate coparcenary property without ‘legal necessity’ or ‘benefit to the estate’.
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