Partnership firm
This query is : Resolved
25 November 2014
why does partnership firm has a limit of 10 and 20 partners in banking and non banking business respectively?
26 November 2014
It is a time old provision. The reason for keeping the limit was to restrict the SIZE. A bigger size should go in for COMPANY form.
Now between banking and non banking, the then expectation was NOT to let economic power concentrate in few HANDS,
Now between banking and non banking, the then expectation was NOT to let economic power concentrate in few HANDS,
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