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Radhabari Tea Co. P. Ltd. Vs. Mridul Kumar Bhattacharjee and ors.

Court : Guwahati

Reported in : [2010]153CompCas579(Gauhati)

..... of that year and all subsequent joint stock companies acts and companies act prohibited the formation of unregistered companies, associations or partnerships for gain where the members exceeded a certain small number (originally 25 but reduced to 20 in 1856). this prohibition was contained most recently in section 716(1) of the companies act 1985 and (for limited partnerships) section 4 ..... recognize the advantages derived from co-operation in commercial enterprise, namely the advantage of raising funds for the purposes of large undertakings by means of contributions from a number of small capitalist ready and willing to co-operate, and that of minimizing the risk by spreading the liability. the difficulty was how to secure these advantages. a charter of private act .....