Mr. Mithilesh Bahadur, an unemployed youth, got a loan from Bihar Bank branch of Patna for cement business at 7(1)/(2)...

Mr. Arjun is a sole proprietor . He has been doing the wholesale business of tea for the last three years . The brand name of his tea is "Tadka Chay." This is a popular brand of its region . Now Mr. Arjun has been worried about two issues . First , his business unit is situated 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 the 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 contacts a business specialist , who suggests 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 .