Maximum no. of partners in a partnership firm as per new com

For any partnership firm(excluding LLP,HUF and professional firms) ,the maximum number of members is 50 . As per rule 10 of Companies Miscellaneous Rule,2014.ref. MCA website.

Section 464 of the Companies Act' 2013 read with Companies (Miscellaneous) Rules, 2014 has restricted the total no. of partners/members in case of any partnership or association having object of acquisition of gain to 50. If the no. exceeds 50, it shall have to get itself registered as a Company.

Companies Act 2013 has made no distinction between a banking & a non-banking firm/association. So maximum limit of 50 members is applicable on both the entities.

 

Maximum No of partners allowed are 50.

The new Companies Act 2013 has prescribed the maximum number of members in case of a partnership firm should not be more than 100 in case of partnerships. As per the previous Companies Act 1956, the maximum limit in case of partnerships was 10 and 20 for banking business and other businesses respectively.

As per rule 10 of Companies rules, No association or partnership shall be formed, consisting of more than fifty persons for the purpose of carrying on any business that has for its objects the acquisition of gain by the association or partnership or by individual members thereof, unless it is registered as a company under the Act or is formed under any other law for the time being in force.

Further as per section 464 of Companies Act, 2013, No association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof, unless it is registered as a company under this Act or is formed under any other law for the time being in force:

Provided that the number of persons which may be prescribed under this sub-section shall not exceed one hundred.

Therefore, if a partnership firm intends to have more than 50 members as partners then it should be registered under the Act