What is a promoter's duty regarding the disclosure of personal interests in transactions involving the company?
What happens to a promoter's status once the Board of Directors is formed?
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What happens to a promoter's duties once the company has raised its initial share capital and the Board of Directors has taken over?
In the context of company law, which of the following statements about promoters is accurate?
According to the Companies Act, 2013, which of the following is NOT a criterion for being classified as a promoter?
Which of the following is NOT a reason for lifting the corporate veil according to legal principles?
What is the primary role of a promoter in the formation of a company?
In which case did the court hold that a competing company was a sham set up to avoid legal obligations?
Which of the following best describes the duty of a promoter to disclose secret profits?
What does the term "limited liability" signify in the context of corporate law?
What is a key characteristic of a Corporation Sole?
What is the primary purpose of a limited liability company agreement?
What does the Specific Relief Act, 1963 allow concerning contracts made by promoters before a company's incorporation?
Under what conditions can promoters be held liable for untrue statements in a prospectus?
In what situation might a director of a limited liability company become personally liable for the company's debts?
What is the primary responsibility of promoters regarding the prospectus under Section 26 of the Companies Act?
If a promoter fails to disclose a profit made from a promotion, what remedy does the company have?
Under what circumstances can a company rescind a contract with a promoter?
Which of the following is NOT a type of limited liability company?
What is one of the conditions necessary for a corporation to possess juristic personality?
What significant change did the Specific Relief Act, 1963 introduce regarding pre-incorporation contracts in India?
In the case of Kelner v. Baxter, what was the key legal principle established regarding promoters' liability?
Which of the following best describes the concept of corporate personality?
Under what circumstances can the corporate veil be lifted?
What is one of the key advantages of a limited liability company regarding tax?
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