Question:
The following is not true about ‘promoter’
The following is not true about ‘promoter’
Updated On: Aug 5, 2024
- A promoter is not an agent or trustee of the company because the company before incorporation is a non-entity but he is in a situation akin to that of agent or trustee of company.
- A promoter may also be a director of his company.
- A promoter is required to make contribution in public issues of his company towards the amount that is being raised through the public issue.
- All of the above are true
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The Correct Option is D
Solution and Explanation
The correct option is (D): All of the above are true.
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