Q.Members of a partnership firm may acquire membership of company _____.

A partnership firm cannot be a member in its own name, but its partners can jointly become members — the correct option is (B). A partnership firm is not a separate legal person distinct from its partners. Because membership of a company requires a legal person capable of holding shares in its own name, the firm as such cannot be registered as a member. - However, the partners of the firm can jointly apply for and hold shares, and their names can be entered in the register of members as joint holders. - (Note: a firm can hold shares only where specifically permitted, e.g. a Section 8 company; the general position test …