Partnership Firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2011
Is there any limit for a person to be partner in any firm.Mean in how many firm a person can become a partner say 10 firms or 20 firms or so on.
18 April 2011
Since partnership is ‘agreement’ there must be minimum two partners. The Partnership Act does not put any restrictions on maximum number of partners. However, section 11 of Companies Act prohibits partnership consisting of more than 20 members, unless it is registered as a company or formed in pursuance of some other law.
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