As per Section 464 of Companies Act, 2013 firm having more than 50 partners as per Companies (Miscellaneous) Rules, 2014 must be registered as company under Companies Act, 2013, if not such entity is known as:
Explanation:
As per Section 464 of Companies Act, 2013 firm having more than 50 partners as per Companies (Miscellaneous) Rules, 2014 must be registered as company under Companies Act, 2013, if not such entity is known as illegal association.