Question

State the maximum number of partners in case of banking and other business?

Answer 1

Answer:

The maximum numbers of partners according to the "New Companies Act 2013" leads to not more than 100 partners in case of banking and other businesses.

Explanation:

According to this act which was declared and ratified in 2013 there were some changes made after the act of 1956. According to the previous act the maximum limit for the concerned business partners were from 10-20 in the case of banking businesses, however now this has been changed to 100.