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

Answer: (A)

not more than 100 partners.

The Companies Act, 2013 has prescribed the maximum number of members in a partnership firm should not be more than 100 in any case whether it is a banking business or other business but 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.

Thus the correct answer is A.