Under Section 464 of the Companies Act, 2013 read with Rule 10 of the Companies (Miscellaneous) Rules,…
Under Section 464(1) of the Companies Act, 2013, the Central Government is empowered to prescribe the maximum number of partners in a partnership firm up to a statutory…
Choose your answer
Under Section 464 of the Companies Act, 2013 read with Rule 10 of the Companies (Miscellaneous) Rules, 2014, the maximum number of partners in a valid partnership firm is:
Answer and explanation
Correct answer C
Under Section 464(1) of the Companies Act, 2013, the Central Government is empowered to prescribe the maximum number of partners in a partnership firm up to a statutory ceiling of 100, and Rule 10 of the Companies (Miscellaneous) Rules, 2014 prescribes this maximum limit as "50" partners (formerly 20 for non-banking and 10 for banking partnerships under Section 11 of the Companies Act, 1956).
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