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Maximum no. of partners in a partnership firm as per new com

Supriya (ca) (31 Points)

26 May 2015

What is the maximum number of partners in a banking and non banking partnership firm as per new companies act,2013?

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Irfan Khan (CA FINAL) (508 Points)
Replied 26 May 2015

Earlier the Maximum Limit of Partners/Members was:-

In case of banking business – 10
In case of any other business – 20

Now the same has been simplified and the limit has been raised to 50 Partners/Members for any business.

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Ashwani Bhatia (1 Points)
Replied 16 July 2016

Dear Sir

Your answer is wrong. Right answer is 100 members not 50 members.

please dont post wrong messages.

AShwani

Amisha Tibrewal (1 Points)
Replied 15 September 2016

Yes, i agree to your answer.

Can you please tell me about the correct maximum number of partners in banking sector a/c to ICA,2013?

CA Diwakar (CA) (33 Points)
Replied 07 April 2017

According to section 464(1) of the Companies Act,2013, no association or partnership consisting of more than such 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 Act or is formed under any other law for the time being in force:

Provided that the number of persons which may be prescribed under this sub-section shall not exceed one hundred.

Further, the Companies (Miscellaneous) Rules, 2014, provides that no association or partnership shall be formed, consisting of more than 50 persons for the purpose of carrying on any business that has for its objects the acquisition of gain by the association or partnership or by individual members thereof, unless it is registered as a company under the Act or is formed under any other law for the time being in force.

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(Guest)

No association or partnership shall be formed, consisting of more than fifty persons for the purpose of carrying on any business that has for its objects the acquisition of gain by the association or partnership or by individual members thereof, unless it is registered as a company under the Act or is formed under any other law for the time being in force. Source : https://ebook.mca.gov.in/Actpagedisplay.aspx?PAGENAME=21227

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Sohil Khan Sam (2 Points)
Replied 26 July 2017

The maximum limit of a partership business is how much?? 50 or 10.

RAM KUMAR GUPTA (ADJUNCT PROFESSOR AND VISITING FACULTY ON BANKING & FINANCE) (485 Points)
Replied 05 November 2017

It is 50 and in case, it is more than 50 then it is to be registered under companies act 2013

gurushankar (CA) (37 Points)
Replied 23 January 2018

can u kindly tell me which section of the partnership act says above mentioned limit

RAM KUMAR GUPTA (ADJUNCT PROFESSOR AND VISITING FACULTY ON BANKING & FINANCE) (485 Points)
Replied 23 January 2018

Please go through section 464 of companies act 2013 mentioned at page number 231 of Gazzet notificattion of Companies act 2013 NEW DELHI, FRIDAY, AUGUST 30, 2013/BHADRAPADA 8, 1935 (SAKA).

Also you should go through Companies( Miscellaneous) rule 2014 .

Please must read the answers already given. Detailed reply has already been given by CA Diwakar in his reply hereinabove.

R.K.GUPTA

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