consequences for pre-incoration contract?
and who is liable?
Menu
corporate laws
Replies (2)
promoters should act in ttust and accountable to the company for all gains earned in pre incorporation contract.Company may agree to reimburse them for all expenses incurred in GOOD FAITH by those promoters or directors .It's upto the company whether to held itslef a party liable for all pre incorporation contracts and there is no obligation on part of company to step into the shoes of promoters
if company after incorporation ,agrees to incorporate preincorporation contracts then company itself is liable
if not agreed ,then promotors are liable
if not agreed ,then promotors are liable
Recent Topic
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
Related Topics
CAclubindia
