law: Companies Act, 2013 
  464.
  
    Prohibition
  
  of association or partnership of persons exceeding certain number.
  1.      No association or
  
  partnership consisting of more than such number of persons as may be prescribed
  
  shall be formed for the purpose of carrying on any business that has for its
  
  object the acquisition of gain by the association or partnership or by the
  
  individual members thereof, unless it is registered as a company under this Act
  
  or is formed under any other law for the time being in force:
  Provided
  
  that the number of persons which may be prescribed under this sub-section shall
  
  not exceed one hundred.
  1.     
  2.      Nothing in
  
  sub-section (1 ) shall apply to—
  a.     
  
    a
  
  Hindu undivided family carrying on any business; or
  b.    
  
    an
  
  association or partnership, if it is formed by professionals who are governed
  
  by special Acts.
  3.      Every member of an
  
  association or partnership carrying on business in contravention of sub-section
  
  (1 ) shall be punishable with fine which may extend to one lakh rupees
  
  and shall also be personally liable for all liabilities incurred in such
  
  business.