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state the consequecses A private firm has 20 partners, including a private company which is having 30 shareholders.

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 nancy asked about 2 years ago

A private firm has 20 partners, including a private company which is having 30 shareholders.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 megha answered about 2 years ago

Hello Nancy, **As far as, private company become partner in private firm, the answer is yes, a private company can become partner in private firm. A company being an artificial person can become a partner in a partnership firm.** ........................................................................................................ **And as per sec. 464 of companies act, 2013,** The 2013 Act puts a restriction on the number of partners that can be admitted to a partnership at 100. To be specific, the 2013 Act states that no association or partnership consisting of more than the given 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 1956 Act or is formed under any other law for the time being in force: As an exception, the aforesaid restriction would not apply to the following: – A Hindu undivided family carrying on any business – An association or partnership, if it is formed by professionals who are governed by special acts like the Chartered Accountants Act, etc. ..................................................................................................................................... Now, as per question asked about the consequence of company – as per companies act, 2013, the limit is not exceeded, thus, **`the private firm is legal as per law.`** Moreover, shareholders of private company are not the partners of private firm. They only remain the shareholders of private company. Only, the private company is the partner of firm. **`Thus, total partners of private firm are 20 only.`** Thanks & Regards

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