Nature of Subscriber to the Memorandum of Assocation of a company.

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Is a person who is subscribing to the Memorandum, whether the Company be limited by shares or limited by guarantee, deemed to be the Promoter of the Company?

I have this query because a promoter as defined in Section 2(69) of the Companies Act. 2013 does not include such an example. So can we say the subscriber need not be a promoter?

Replies (3)

The defination of promoter is as follows:

 

 

subsciber to the shares is a promoter.Now what section says:

ae some more intricate details .

But in Companies Act 2013, subscriber to the MoA & AoA has not been included in the definition of Promoter.

Subscribers may or may not be promoters , generally yes ,subscribers are promoters , but ,again it depends on the action of a person and on a company whether he/she or body corporate classified as promoter or not ?

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