Promoter in company law pdf

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i) A promoter can be an individual, a group of persons or a company. ii) The term 'Promoter' is defined in the Companies Act. iii) Promotion is the first step Certification of Incorporation. Promoters have the following liabilities under the Companies Act, 1956. • They can be liable for non-complianceCompanies Act, 2013 defines promoters as the persons whose name appears on the face of prospectus, who controls the affairs of company or according to whose (b) any person named as promoter in any offer document of the target company or any shareholding pattern filed by the target company with the stock exchanges As per section 2(69) of the Companies Act, 2013 "promoter" means a person—. (a) who has been named as such in a prospectus or is identified by the company Meaning of Promoter. The definition of 'promoter' is introduced for the first time in the Companies Act,. 2013. However, the term promoter was explained Therefore, promoter is a person, who conceives an idea of starting a business, plans the formulation of co. and actually brings it into an existence. Promoter Act to override memorandum, articles, etc. 7. Incorporation of company. 8. Formation of companies with charitable objects, etc. 9. Effect of registration.