Before a company (Co) comes into existence, the new business idea undergoes some stages and procedures. These initial stages of formation of any company are termed as promotion. There are people who are involved in executing these stages before a company can commence its operations. These persons are called the promoters.
Note that not all types of companies undergo all these stages. Some start operating only after undergoing two stages as the case with a private company and public company. These two companies don’t have a share capital. A public Co limited with a share capital has to undergo all …
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