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Which of the following is a duty of promoter?

Because a promoter is a fiduciary, his main duty is to disclose his interest in any transaction and any profit he makes in promoting the company. Audit is done by the…

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Which of the following is a duty of promoter?

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Correct answer A

Because a promoter is a fiduciary, his main duty is to disclose his interest in any transaction and any profit he makes in promoting the company. Audit is done by the statutory auditor, dividends are declared by the company in general meeting, and winding up is a matter for the Tribunal or the members.

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