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Promoter of a Company: Functions, Duties and Liabilities

(vi) The promoters may take an option to subscribe within a fixed period for a certain portion of the company’s unissued shares at par. Whatever be the nature of remuneration, it must be disclosed in the prospectus if paid within the preceding two years from the date of prospectus. Duties of Promoter: The duties of promoters are as follows: 1.…

Role of Promoters in Company Establishment

Thus, the promoters have to ensure that the real truth is disclosed to those, who are induced by the promoters to join the company . Promoters Role in Incorporation of a Company. The Job of promoter is not only limited towards, performing certain duties, but surely it ……

The Duties of a Promoter - Trembly Law Firm

Jul 19, 2016 · Promoters owe fiduciary duties to others within the future corporation. Owing fiduciary duties means that promoters have legal duties to act solely in another party’s interests. Promoters owe a duty of good faith to the other participants in the business venture. This includes a high standard of honesty and frankness.…

Corporate promoter - Wikipedia

A corporate promoter is a firm or person who does the preliminary work incidental to the formation of a company, including its promotion, incorporation, and flotation, and solicits people to invest money in the company, usually when it is being formed.An investment banker, an underwriter, or a stock promoter may, wholly or in part, perform the role of a promoter.…

Promoter Duties Extent of Liability Remuneration

3. Duty to Give Benefits of Negotiations to the Company. The promoter, as soon as he starts to act for the formation of the proposed company should give to the company the benefit of all negotiations or contracts entered into by him in respect of the company. 4. Not to make Unfair Use of his Position. The promoter enjoys extensive powers.…