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Question
State whether the following statement is True or False.
Promoters are persons who take the necessary steps to set up a company.
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Solution
This statement is true.
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___________ are the persons who undertake the process of formation of a company.
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Write a word or a term or a phrase which can substitute the following statement.
Persons who undertake the necessary steps to set up a company.
State whether the following statement is True or False.
A company is an artificial person.
To form a Public company, there must be minimum 2 persons/promoters.
State whether the following statement is True or False.
Promoters can make secret profits while setting up a company.
State whether the following statement is True or False.
Every Director has to quote his DIN while giving his consent to be a Director of a company.
Find the odd one.
Select the correct option form the given option:
|
Group A |
Group B |
|
Promoters |
________ |
Study the following case/situation and express your opinion.
Mr. Ram, Mr. Sam, and Mr. Tom who are partners have come together to convert their business into a company. They have finalized all the details about the business they want to do, capital needed, etc. However, they do not know how to proceed with the legal formalities. Hence they appoint Mr. Shah who is a Practicing Company Secretary to help them prepare documents needed for incorporating the proposed company.
- Can Mr. Ram, Mr. Sam, and Mr. Tom convert their partnership firm into a company?
- Name 2 most important documents needed to incorporate a company.
- Will Mr. Shah be considered as a Promoter of the Company? Why?
Study the following case/situation and express your opinion.
| Sagar company limited got its Certificate of Incorporation on 1st Sept. 2018. The application for Incorporation was submitted on 16th Aug. 2018. There were 10 promoters who took the steps to incorporate the company. |
- State the date on which Sagar company limited came into existence legally.
- On which date will the company get its Corporate Identity Number?
- How many minimum promoters are needed for incorporating a public company?
