Is there any restriction on the maximum number of partners? if yes, name the act under which it is prescribed.
Is there any restriction on the maximum number of partners? if yes, name the act under which it is prescribed.
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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.
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