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What is the maximum number of …

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What is the maximum number of partners in a partnership firm with :- a) Banking Business b) Non banking business

    • Posted by Aayushi Gupta 4 years, 8 months ago

    CBSE > Class 11 > Business Studies
    • 1 answers

    Gaurav Seth 4 years, 8 months ago

    According to section 464(1) of the Companies Act,2013, no association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof, unless it is registered as a company under this Act or is formed under any other law for the time being in force: Provided that the number of persons which may be prescribed under this sub-section shall not exceed one hundred. Further, the Companies (Miscellaneous) Rules, 2014, provides that no association or partnership shall be formed, consisting of more than 50 persons for the purpose of carrying on any business that has for its objects the acquisition of gain by the association or partnership or by individual members thereof, unless it is registered as a company under the Act or is formed under any other law for the time being in force.

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