This statement is related to the merits and demerits of a partnership form of business organization.

Merits are:

• Balanced decision making: The partners can oversee different functions according to their areas of expertise. Because an individual is not forced to handle different activities, this not only reduces the burden of work but also leads to fewer errors in judgements. As a consequence, decisions are likely to be more balanced.
• Sharing of Risks: The risks involved in running a partnership firm are shared by all the partners. This reduces the anxiety, burden and stress on individual partners.

Demerits are:

• Limited Resources: There is a restriction on the number of partners, and hence contribution in terms of capital investment is usually not sufficient to support large scale business operations. As a result, partnership firms face problems in expansion beyond a certain size.
• Possibility of Conflicts: Partnership is run by a group of persons wherein decision-making authority is shared. The difference in opinion on some issues may lead to disputes between partners. Further, decisions of one partner are binding on other partners. Thus an unwise decision by someone may result in financial ruin for all others.

The modern modes of communication are all electronic such as emails, Phones, text messages, the internet, television and so on.

Please give complete information. 

The mall is spread over 7 floors, and includes 330 brands, 80 kiosks, 5 customized shopping zones, along with 75 food and beverages options and a movie theatre (PVR Cinemas) with 7 screens.

The various stages involved in the formation of a company are:

1. Promotion: Promotion is the first stage in the formation of a company. Both a Private company and a Public company has to go through this stage. It involves conceiving a business opportunity and taking an initiative to form a company so that practical shape can be given to exploiting the available business opportunity. The main functions of a promoter are the identification of business opportunities, conducting feasibility studies, filing name approval form, fixing up Signatories to the Memorandum of Association, the appointment of professionals and preparation of necessary documents.
2. Incorporation: Incorporation is the second stage in the formation of a company. Incorporation means the registration of the company under the Companies Act, 2013 or any previous Company Law. After the registrar approves the name, the promoter can proceed with the following steps for the incorporation of the Company:
   1. Filing of Documents
   2. Payment of Fees
   3. Certificate of Incorporation
3. Capital Subscription: Capital Subscription is the third stage in the formation of a company. Only a Public company has to go through this stage. The steps included are:
   1. SEBI Approval
   2. Filing of Prospectus or Statement in Lieu of Prospectus
   3. Appointment of Bankers, Brokers, and Underwriters
   4. Minimum Subscription
   5. Application of Stock Exchange
   6. Allotment of Shares
4. Commencement of Business: Commencement of Business is the fourth and last stage in the formation of a company. Only a Public company has to go through this stage. After the amount of minimum subscription is raised through the new issue of shares, a public company applies to the Registrar of Companies for the issue of Certificate of Commencement of Business to legally start doing business.

On the DGFT website, go to the Online ECOM Application section under services. Select 'Restricted Item Import License or Restricted Export Item'. Fill the application online and add all the required details. Mail a copy of the application to [email protected] in a PDF format and attach mandatory documents.