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Promoter of a Company

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HomeBrud.gifCompany LawBrud.gifPromoter of a Company

The Promoter of a Company (also called projector) is the person who undertakes to form the company with reference to the given project and to set it going. He is the person who takes the necessary steps to accomplish the purpose.

The promoter is the person who conceives an idea for setting-up a particular business at a given place and performs various formalities required for starting a company.

He solicits people to invest money into a corporation, usually when it is being formed.

The promoters issue a prospectus, obtain stock subscriptions, and secure a charter.

Promoters will have certain legal obligations and duties as specified by the Company Law.

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