A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only ____ more partners can be admitted in the partnership firm according to Companies Act, 2013.

Question

A, B and C were partners in a firm sharing profits and losses in the ratio of \( \frac{1}{2} : \frac{1}{3} : \frac{1}{4} \). D was admitted in the firm for \( \frac{1}{6} \) share. C would retain his original share. The new profit sharing ratio will be:

Answer 1

Section 464 of the Companies Act, 2013 stipulates that a partnership firm may have up to 50 partners, provided it is not registered as a company. With the current firm having 45 partners against the maximum limit of 50, the calculation for additional partners is as follows: \[ \text{Remaining partners that can be admitted} = 50 - 45 = 5 \]. Consequently, the partnership firm can admit 5 additional partners.

A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only ____ more partners can be admitted in the partnership firm according to Companies Act, 2013.

Show Hint

The Correct Option is C

Solution and Explanation

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