A partnership business doing the business of banking can have _______________________.
A
not more than 100 partners
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B
not more than 20 partners
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C
not more than 50 partners
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D
any number of partners
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Solution
The correct option is A not more than 100 partners As per provisions of section 11 of Companies Act,1956 there cannot be more than 10 partners in a firm established for carrying on banking business.
A partnership firm having more than maximum prescribed limit of partners shall be illegal.