Maximum number 50 or 100 ?

Anil (1638 Points)

08 March 2015  

This question pertains to companies Act

 

Rule says:

An unincorporated company,association or partnership consisting of large number of persons has been declared illegal. Rule 10 of Companies( Miscellaneous) Rules, 2014 prescribes 50 persons in this regard.


Act says:

By virtue of section 464 of the Companies Act, 2013, no association or partnership consisting of more than 100 number of persons as may be prescribed shall be formed for the purpose of carrying on any business.


Question:

Rule says 50 number and Act says 100 as maximum number.

Please let me know 50 numbers limit is for what and 100 numbers limit is for what. They seem same to me. Hence the question.

Thanks.