Justify the following statement: Promoters play important role information of a company.
Justify the following statement:
Promoters play important role information of a company.
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- Promoter discovers the idea of business formation.
- Promoter decides aims and objects of business, amount of capital, scale/size of business.
- Drafting the ‘Memorandum of Association’ and ‘Articles of Association’.
- Drafting prospectus to invite investors.
- To appoint first directors and first subscribers of Memorandum of Association and Articles of Association,
- To enter into ‘Preliminary Contracts’ like hiring office premises, etc.
- To protect and promote the interest of the proposed company.
- Thus, promoters play important role in theformation of a company.
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