maximum number of partners in a firm

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked about 3 years ago

    1       0 Answer Now Comment Report
5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered about 3 years ago

Section 11 Companies Act provides that the maximum no. of persons, a firm can have:In case of partnership firm carrying on a banking business 20 In case of partnership firm carrying on any other business 50 If the number of partners exceeds the aforesaid limit, the partnership firm becomes an illegal association.

    0       1 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 3 years ago

As per provisions of Section 11 of the Companies Act, 1956 there cannot be more than ten partners in a firm established for carrying on banking business and not more than twenty persons in a firm formed for the purpose of carrying on any other business for profit. A partnership firm having more than the maximum prescribed limit of partners shall be illegal.

    1       1 Comment Report
Data?1494421730 rohit awasthi answered about 3 years ago

Dear Friend Maximum Limit on Number of Partners Section 11 Companies Act provides that the maximum no. of persons, a firm can have:In case of partnership firm carrying on a banking business 20 In case of partnership firm carrying on any other business 50 If the number of partners exceeds the aforesaid limit, the partnership firm becomes an illegal association. Thanks

    3       1 Comment Report
Data?1494421738 samkit kothari answered about 3 years ago

> For any business except banking business Min 2 Max 50 > For banking Business Min 2 Max 20

    1       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 3 years ago

**MAXIMUM NUMBER OF PARTNERS IN A FIRM** As per provisions of Section 11 of the Companies Act, 1956 there cannot be more than ten partners in a firm established for carrying on banking business and not more than twenty persons in a firm formed for the purpose of carrying on any other business for profit. A partnership firm having more than the maximum prescribed limit of partners shall be illegal. However, members of joint families carrying on business in partnership are exempted from the maximum statutory limit of partners prescribed under Section 11 of the Companies Act, 1956. If one joint family carries on business in partnership with more than twenty persons of the same family, the said partnership shall not be unlawful. But if two or more joint families carry on business with more than twenty adult persons, the association will be unlawful. Although in the beginning such an association may have less than 20 members but subsequently if the adult members exceed 20, the association will become illegal from the date when the membership exceeds the statutory limit. Thanks

    1       1 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.