Question

A partnership business doing the business of banking can have _______________________.

• A. not more than $100$ partners
• B. not more than $20$ partners
• C. not more than $50$ partners
• D. any number of partners

Answer 1

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.