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of <h1>Clause 464 of Companies Bill, 2011: Limits on Business Partnerships Without Registration, Fines for Violations</h1> Clause 464 of the Companies Bill, 2011, prohibits forming an association or partnership with more than a prescribed number of persons for business purposes aimed at profit unless registered as a company or formed under other current laws. The prescribed number cannot exceed one hundred. Exceptions include Hindu undivided families and associations formed by professionals governed by special Acts. Violation of this provision results in a fine up to one lakh rupees, and members are personally liable for all business liabilities.
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