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Formation of company - Coggle Diagram
Formation of company
Promotion
Promotion involves conceiving a business idea and taking initiative to form a company to give practical shape to exploiting the available business opportunity
Promoter is the one who undertakes to form a company with reference to a given project and set it going at takes necessary steps to accomplish that purpose
According to section 69 a promoter is a person
- Who has been named as such in a prospectus or is identified by the company in the annual return referred to section 92
- Who has control over the affairs of the company directly or indirectly
- In accordance with who's advice, directions and instructions the board of directors of a company is accustomed to act
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