Q-1 What is an illegal association? What are its consequences?

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ANS- An illegal Association is governed by Section 464 of the Companies Act.

Section 464 of the Act provides that no company, association

partnership consisting of more than 50 persons be formed

to carry on any business for gain unless it is registered under

Companies Act or any other Indian law.

It is not necessary that such an association must be registered under

the Indian Companies Act. It may be registered under some other Indian law.

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