Multiple choice

The maximum number of partners is mentioned in the

  1. Partnership Act

  2. General Clauses Act

  3. Companies Act

  4. Societies Registration Act
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C Correct answer
Explanation

Under Indian company law, the Companies Act prescribes the maximum number of partners allowed in a partnership firm. Section 464 of the Companies Act, 2013 read with Rule 10 of the Companies (Miscellaneous) Rules, 2014 limits the maximum number of partners in a partnership firm to 100 (50 in case of banking business). The Partnership Act does not specify any maximum number, while the General Clauses Act and Societies Registration Act are not relevant to this provision.

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