1.

Explain the following concept:Promoters

Answer»

A person who take lead to form the company is called a “Promoter”. As per Companies Act, 2013; Section 2(69) Promoter is defined as,

  • A person, who has been named in the prospectus or identified by the company in Annual Return or
  • Who has control on company’s affairs directly or indirectly whether as a shareholder, director or otherwise or
  • In accordance with whose advice, directions, or instructions, the Board of Directors is accustomed to act.


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