15 April 2014
a private company has 20 partners,including a private company which is having 30 shareholders. is it an illegal association as per sec 11 of companies act? suggest if not than what are the reasons for thia casa.
17 April 2014
The private company would be having 20 shareholders and not "partners". Further, a private company comes into existence on its incorporation/registration. Therefore, it would not be an illegal association even if all its members are partners of some firms.
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