What is the maximum number of Partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm.
What is the maximum number of Partners that a partnership firm can have? Name the Act that provides for the maximum number of partners in a partnership firm.
Anurag Pathak Changed status to publish April 9, 2023
The Companies Act, 2013 (Section 464) empowers the Central Government to prescribe a number of partners in a firm subject to a maximum of 100 Partners.
The Central government has prescribed a maximum number of partners in a firm to be 50 Vide Rule 10 of the Companies (Miscellaneous) Rules, 2014.
As a result, a partnership firm can not have more than 50 Partners.
Note:- The Partnership Act, of 1932 does not prescribe the maximum number of partners in a firm anywhere.
Anurag Pathak Answered question April 4, 2023
