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max. no. of members allowed in AOP/BOI

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(Querist)
02 March 2010 Hi, all,

Pls guide me out (1)whether there is any limit on no. of members of AOP/BOI. (2)Can no. of members of AOP/BOI increased or decreased after its formation.

Regards,
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
02 March 2010 The maximum no. is 10 in case of banking business and 20 in the case of any other business. The restriction is not applicable in the case of non profit organisation.

No. of members can be increased / decreased.
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Rasesh

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Rasesh (Expert)
02 March 2010 Agree with expert
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
02 March 2010 Agreed....
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