Definition of Promoter of a private limited company

AP Rao (--) (43 Points)

06 May 2010  

What is the meaning of being a 'PROMOTER' of a private limited company?

I have seen this position being used by founders of some companies,

Is promoter a valid category for directors as per company law? Does law provide any special provisions for promoters?

Can promoters veto board decisions?

can they be independent or non-executive?