A group of 40 People wants to form a Partnership Firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the act under whose provisions it is given.
A group of 40 People wants to form a Partnership Firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the act under whose provisions it is given.
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:-Â The Partnership Act, of 1932 does not prescribe the maximum number of partners in a firm anywhere.
Anurag Pathak Answered question April 4, 2023
