Promoters of Company

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Rama Mahawar (Querist)
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12 September 2009 hi,

I have 2 queries

1) What does promoter of a company means? The director recruited at the time of formation will be termed as promoter?

2)con a company be a sister concern of two different companies??

Waiting for the prompt reply

Thanks in Advance...

Rama

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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12 September 2009 Promoter is the person who is the prime person for bringing in the company into existence. May be his idea or capital etc.,

A promoter can be director, But a director recurited at the time of formation need not a promoter.

Yes. It can be sister concern of two different companies.