Table of Contents
- 1 What is Section 464 of Companies Act, 2013?
- 2 What is the maximum number of partners in a firm as per Section 464 of Companies Act, 2013?
- 3 What are the rules regarding the preparation and presentation of the final accounts of a company under the company Act 1956 explain?
- 4 How many partners are there in partnership firm?
- 5 How many sections are in the Partnership Act?
- 6 What is the maximum number of partners in a form according to Companies Act 2013?
- 7 What is illegal association under Companies Act, 2013?
- 8 What are the rights and liabilities of a member of illegal association?
What is Section 464 of Companies Act, 2013?
Section 464 of the Companies Act, 2013: Prohibition of association or partnership of persons exceeding certain number. Section 464: Prohibition of association or partnership of persons exceeding certain number. 464. (b) an association or partnership, if it is formed by professionals who are governed by special Acts.
What is the maximum number of partners in a firm as per Section 464 of Companies Act, 2013?
“Section 464 of the Companies Act, 2013 empowers the Central Government to prescribe maximum number of partners in a firm but the number of partners so prescribed cannot be more than 100.
What are the rules regarding the preparation and presentation of the final accounts of a company under the company Act 1956 explain?
Section 210 of the Companies Act governs the preparation of final account of a Company. The Board of Directors of a Company must, within 18 month from the date of incorporation, and subsequently once a year, lay take the company in general meeting the Balance Sheet of the Company and a Profit and Loss Account.
What is an illegal association What are its consequences?
An illegal association cannot sue any of its members or any third parties to recover any debt due to it. Likewise, no suit can be filed against an illegal association by its members to recover money lent to it.
What are the sections of Companies Act 2013?
The Companies Act, 2013
| Section No. | Section Name |
|---|---|
| 6 | Act to override memorandum, articles, etc |
| 7 | Incorporation of company |
| 8 | Formation of companies with charitable objects, etc |
| 9 | Effect of registration |
How many partners are there in partnership firm?
The maximum number of partners in a partnership firm is 20. There is a restriction on the number of partners, and hence the capital invested in the firm is also restricted.
How many sections are in the Partnership Act?
Section 22. Mode of doing act to bind firm. Section 24. Effect of notice to acting partner….Language.
| Act ID: | 193209 |
|---|---|
| Long Title: | An Act to define and amend the Law Relating to Partnership. |
| Ministry: | Ministry of Corporate Affairs |
| Enforcement Date: | 01-10-1932 (except section 69) 01-10-1933 |
| Last Updated: | 11-03-2019 |
What is the maximum number of partners in a form according to Companies Act 2013?
Maximum number of partners in a firm are 50 according to Companies Act, 2013.
Which section of the Companies Act 2013 provides for preparation of liquidator statements?
its mandatory for NCLT to order liquidation of the debtor (Under Chapter III of the Code – Section 33).
Which section of the Companies Act 2013 provides for preparation of financial statements?
Schedule iii of the companies act, 2013 provides the manner in which every company registered under the act shall prepare its Statement of profit and loss, Balance Sheet and notes to the financial statements.
What is illegal association under Companies Act, 2013?
Section 464 of the Companies Act, 2013, states that any association or partnership formed exceeding fifty members for a profit gaining business, without registering it as a company under Companies Act, 2013, is said to be known as Illegal Association.
What are the rights and liabilities of a member of illegal association?
The Members of an illegal association are individually liable in respect of all acts or contracts made on behalf of the association; they cannot either individual or collectively, bring an action to enforce any contract so made, or to recover any debt due to the association.