The Indian Partnership Act, 1932 was enacted in India in 1932.

Under section 44(d) of the act, a suit can be filed against the managing partner for dissolution of the partnership firm.

""Section 464 of the Companies Act, 2013 empowers the Central Government to prescribe maximum number of partners in a firm but the number of partners so prescribed cannot be more than 50.The Central Government has prescribed maximum number of partners in a firm to be 50 vide Rule 10 of the Companies (Miscellaneous) Rules,2014.Thus, in effect, a partnership firm cannot have more than 50 members".

They have to be accountable to one another and provide complete information of all the aspects of the firm, to any other partner or their legal representatives.

Duty of indemnification Each partner shall indemnify the firm for any loss that occurred due to fraud, in the conduct of the business.