Section 464 of CA 2013 : Section 464: Prohibition Of Association Or Partnership Of Persons Exceeding Certain Number
CA 2013
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Explanation using Example
Imagine a group of 120 individuals decide to start a real estate business together with the aim of making profit. According to Section 464(1) of the Companies Act, 2013, they cannot form a partnership or association because the number of people exceeds the prescribed limit, which is not more than 100 for such business ventures. To legally carry on their business, they must register as a company under the Companies Ac...
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