The Lex Insight is a dedicated legal knowledge platform focused on explaining law in a clear, structured, and academically sound manner. This website is designed for law students, judicial and competitive exam aspirants, researchers, and readers who want a deeper and more accurate understanding of legal concepts beyond surface-level explanations. The aim is not merely to define the law, but to explore its reasoning, development, and practical implications in a way that is accessible yet intellectually rigorous. The content published here covers a wide range of legal subjects, including constitutional law, criminal law, company law, Muslim law, Hindu law, and other core areas of Indian law. Each article is written with careful attention to statutory provisions, judicial precedents, and doctrinal analysis. Rather than relying on brief summaries or oversimplified notes, the articles on this site engage with legal principles in detail, often tracing their historical background, judic...
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Company distinguished from Partnership
Distinction Between Company and Partnership A 'Company' is a form of business organisation formed generally for carrying on larger business than could be possible by a 'Partnership.' In a partnership, the maximum number of persons, who can join as partners, is 10 if they want to carry on a banking business, and 20, if they want to carry on other than a banking business. The size of the business, therefore, gets limited to the extent of investment, resources and efforts, which can be put in by those joining as partners. When larger amount of capital and resources are required, a company is a more suitable form of business organisation. A private company could be formed with a membership of up to 200 persons,¹ and in the case of a public company, there is no maximum limit as to the number of persons, who can be its members or shareholders. Thus, there could be a public company having one lakh members, each one of them having purchased one share of Rs. 100 each, and there...