Karta of an HUF has almost absolute management rights
He may manage the family affairs, family property and family business in manner as he may deem fit, no one can question his management. The only reasonable limitation that can be imposed on the karta is that he must act with prudence, and prudence implies caution as well as foresight and excludes hasty, reckless and arbitrary conduct. His role is crucial. He is entrusted not only with the management of land/assets of the family but also is entrusted to do the general welfare of the family.
Partition means bringing the joint status to an end. On partition, the family ceases to be a joint family. Under the Mitakshara law, partition means two things: -
(a) Severance of status /interest, and
(b) Actual division of property in accordance with the shares so specified, known as partition by metes and bounds.
After the severance of status has taken place, the karta is bound to render accounts of all expenditure and income in the same manner as a trustee or agent is bound to render accounts. This means that from the date of severance of status, the karta is bound to account for all mesne profits.
t is the natural consequence of the joint family system that the whole of the income of the joint family property, whosoever may collect them, a coparcener, agent or a servant, must be handled over to the karta .It is for the karta to allot funds to the members and look after their needs and requirements.