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of <h1>Section 464 Limits Business Partnerships to 100 Members Unless Registered; Violators Face Fines and Personal Liability.</h1> Section 464 of the Companies Act, 2013, prohibits the formation of associations or partnerships with more than a prescribed number of persons, not exceeding one hundred, for business purposes aimed at profit unless registered as a company or formed under another applicable law. Exceptions include Hindu undivided families and associations or partnerships formed by professionals governed by special Acts. Violating this provision results in a fine up to one lakh rupees, and members are personally liable for any business liabilities incurred.
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