As we know,
As per Sec. 2(69)"promoter” means a person—
(a) who has been named as such in a prospectus or is identified by the company in the annual return; or
(b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or
(c) in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act.
My question is "if there is no promoter then who will do above please explain"? 🤔
For example ITC, IDFC, ICICI Bank, Yes Bank and HDFC.
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Query regarding promoters stake
Replies (1)
For Professionaly managed company there will not be any identified promoter or sometimes structure is like that no individual can be promoter holding should be routed through CIC/NOHFC for bank generally NBFC-NOHFC .....these are companies which have large public exposure and Board can't act according to controlling supervision of anyone ,mean to say board is independent in itself for all decision making.
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