1. “A PROMOTERIS A PERSON WHO ASSEMBLES THE MEN,THE
MONEY AND THE MATERIALS INTO A GOING CONCERN”
-: GUTHMANNAND DOUGHALL
VATS AND VASHISTH
2. VATS AND VASHISTH
•MAKING AGREEMENT WITH SELLER AFTER
BUYING THE BUSINESS
•PLANNING THE FORMATION AND ASSESSING
THE POSSIBILITIES
•CONSIDERING THE PRE-START PROBLEMS
•SELECTING THE FIRST DIRECTOR OF THE
COMPANY AND GETTING THEIR CONSENT
3. SELECTING THE BANKERS SIGNATORIES TECHNICAL EXPERTS
UNDERWRITERS
PREPAIRING PROSPECTUS, A.O.A, M.O.A
BEING PRESENT AT TIME OF REGISTRATION
GETTING THE CERTIFICATE OF INCOORPORATION FROM
REGISTRAR
GETTING COMPAN’S PROSPECTUS PUBLISHED AND
ADVERTISED
MEETING INITIAL EXPENSES
ARRANGING FOR INVESTMENT OF CAPITAL
ARRANGING MINIMUM SUBSCRIPTION
4. RIGHT TO GET LEGITIMATE
PRELIMINARY EXPENSES
RIGHT TO GET PROPORTIONATE
AMOUNT FROM CO.PROMOTERS
RIGHT TO GET REMUNERATION
5. TO DISCLOSE PRIVATE ARRANGEMENTS
TO DISCLOSE SECRET PROFITS
TO DISCLOSE ALL MATERIAL FACTS
TO DISCLOSE PROFIT WHICH HE HAS EARNED
AS A TRUSTEE
TO SHOW GOODWILL TOWARDS FUTURE
SHAREHOLDERS
6. DUE TO FIDUCIARY RELATIONSHIP
IN CASE OF FRAUD OR BREACH OF DUTY
MISTATEMENT IN PROSPECTUS
ON DEATH OF PROMOTER
ON COMPLETION OF CONTRACT
WINDING UP OF COMPANY
LIABILITIES