{"id":7188,"date":"2025-06-10T11:16:36","date_gmt":"2025-06-10T05:46:36","guid":{"rendered":"https:\/\/shop.igpinstitute.org\/insight\/?p=7188"},"modified":"2025-06-10T11:16:38","modified_gmt":"2025-06-10T05:46:38","slug":"who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law","status":"publish","type":"post","link":"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/","title":{"rendered":"Who is a Promoter? | Explained by Rishabh Gaur Sir (CA Foundation &#8211; Company Law)"},"content":{"rendered":"\n<p>In the world of company law, understanding the role and liability of a promoter is absolutely essential. Rishabh Gaur Sir (IGP&#8217;s Faculty), known for his dynamic and example-driven teaching style at IGP CA Foundation Classes, breaks down Section 2(69) of the Companies Act, 2013, which defines the term \u201cPromoter,\u201d using real-life logic, quirky comparisons, and courtroom-style storytelling.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#Section_269_%E2%80%93_The_Legal_Definition_of_Promoter\" >Section 2(69) \u2013 The Legal Definition of Promoter<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#%E2%80%9CMeans%E2%80%9D_Exhaustive_Definition\" >&#8220;Means&#8221; = Exhaustive Definition<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#The_Three_Ways_Someone_Becomes_a_Promoter\" >The Three Ways Someone Becomes a Promoter<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#1_The_%E2%80%9CIdea_Guy%E2%80%9D_%E2%80%93_Where_It_All_Starts\" >1. The &#8220;Idea Guy&#8221; \u2013 Where It All Starts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#2_Who_Signs_the_Papers_Who_Files_False_Docs\" >2. Who Signs the Papers? Who Files False Docs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#3_Shareholders_Members_Directors_%E2%80%94_Whos_Really_in_Charge\" >3. Shareholders, Members, Directors \u2014 Who\u2019s Really in Charge?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#4_Who_Will_Be_Held_Responsible\" >4. Who Will Be Held Responsible?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#5_Control-Based_Promoter\" >5. Control-Based Promoter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#6_Exception_Professionals_Arent_Promoters\" >6. Exception: Professionals Aren\u2019t Promoters<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#Section_447_%E2%80%93_Fraud_Punishment\" >Section 447 \u2013 Fraud Punishment<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#Key_Takeaways_%E2%80%93_What_You_MUST_Remember\" >Key Takeaways \u2013 What You MUST Remember<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/#Exam_Relevance_CA_Foundation\" >Exam Relevance (CA Foundation)<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_269_%E2%80%93_The_Legal_Definition_of_Promoter\"><\/span><strong>Section 2(69) \u2013 The Legal Definition of Promoter<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term <strong>\u201cPromoter\u201d<\/strong> has been clearly defined in <strong>Section 2(69)<\/strong> of the Companies Act. But <strong>why was a definition even needed?<\/strong> Because without a legal boundary, anyone could escape liability by claiming, <em>\u201cI just gave the idea!\u201d<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CMeans%E2%80%9D_Exhaustive_Definition\"><\/span><strong>&#8220;Means&#8221; = Exhaustive Definition<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When the law uses <strong>\u201cmeans\u201d<\/strong> in the definition, it becomes an <strong>exhaustive list<\/strong> \u2014 meaning <strong>only<\/strong> those mentioned under this clause can be considered promoters. No outside interpretation!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Three_Ways_Someone_Becomes_a_Promoter\"><\/span><strong>The Three Ways Someone Becomes a Promoter<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per <strong>Section 2(69)<\/strong>, a person is a <strong>Promoter<\/strong> if:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Named as a Promoter<\/strong> in the <strong>prospectus<\/strong> or <strong>annual return<\/strong> (filed under Section 92).<\/li>\n\n\n\n<li><strong>Has control over the affairs of the company<\/strong>, directly or indirectly.<\/li>\n\n\n\n<li><strong>In accordance with whose advice, directions, or instructions<\/strong> the Board of Directors is accustomed to act.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"CA Foundation | LAW | Who are Promoters? | Rishabh Gaur | IGP Classes\" width=\"1140\" height=\"641\" src=\"https:\/\/www.youtube.com\/embed\/XtwKbENBwus?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Let\u2019s break these points down with <strong>Rishabh Gaur Sir&#8217;s examples.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_The_%E2%80%9CIdea_Guy%E2%80%9D_%E2%80%93_Where_It_All_Starts\"><\/span><strong>1. The &#8220;Idea Guy&#8221; \u2013 Where It All Starts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Sir humorously starts by saying:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Promoter woh hota hai jiske dimag mein <em>bulb jalta hai!<\/em>&#8220;<\/p>\n<\/blockquote>\n\n\n\n<p>He\u2019s the person with the <strong>idea<\/strong>. For example:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u201cMain ek aisi cycle banaunga jo electricity se chalegi!\u201d<\/strong><\/li>\n\n\n\n<li>He then gathers people to <strong>invest<\/strong>, and in return, they get <strong>shares<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>So, he\u2019s the one <strong>initiating<\/strong> the company, arranging capital, and forming the <strong>blueprint<\/strong>.<\/p>\n\n\n\n<p><strong><em>Read Also: <a href=\"https:\/\/shop.igpinstitute.org\/insight\/contingent-contract-simplified-ca-foundation-law\/\">Contingent Contract Simplified \u2013 CA Foundation Law<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Who_Signs_the_Papers_Who_Files_False_Docs\"><\/span><strong>2. Who Signs the Papers? Who Files False Docs?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Sir says:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAgar aapne company form karte samay koi galat information di, to promoter hi fasega \u2014 jail jaega!\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>If any <strong>false or misleading documents<\/strong> are filed during <strong>incorporation (Section 7)<\/strong>, the <strong>promoter<\/strong> is liable under <strong>Section 447<\/strong> for fraud.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Example:<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Someone uses <strong>fake ID proof<\/strong>.<\/li>\n\n\n\n<li>If caught, the <strong>promoter<\/strong>, not the shareholder or a random director, will be held liable.<\/li>\n<\/ul>\n\n\n\n<p>Promoter = <strong>the brain + the hand behind incorporation<\/strong>.<\/p>\n\n\n\n<p><strong><em>Read Also: <a href=\"https:\/\/shop.igpinstitute.org\/insight\/quick-revision-of-the-indian-contract-act-ca-foundation-prep\/\">Quick Revision of the Indian Contract Act \u2013 CA Foundation Prep<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Shareholders_Members_Directors_%E2%80%94_Whos_Really_in_Charge\"><\/span><strong>3. Shareholders, Members, Directors \u2014 Who\u2019s Really in Charge?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Sir simplifies the hierarchy:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCompany chalane ke liye teen log chahiye \u2014 <strong>Promoter<\/strong>, <strong>Member<\/strong>, and <strong>Director<\/strong>.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>But remember:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shareholders come only <strong>after<\/strong> the company is formed.<\/li>\n\n\n\n<li>Directors are appointed <strong>by the promoter<\/strong> to run operations.<\/li>\n\n\n\n<li>So, the <strong>promoter is the original mastermind<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong><em>Read Also: <a href=\"https:\/\/shop.igpinstitute.org\/insight\/the-rule-of-estoppel-explained-with-best-examples\/\">The Rule of Estoppel Explained with Best Examples<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Who_Will_Be_Held_Responsible\"><\/span><strong>4. Who Will Be Held Responsible?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Sir explains how <strong>legal responsibility<\/strong> is traced:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSaat log mein se sabse kam shanaam insaan ko fasa denge&#8230; bolenge idea iska tha!\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>If the company goes rogue, they\u2019ll <strong>trace back to the promoter<\/strong>, even if he made someone else sign papers.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Example:<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You put your <strong>dadaji\u2019s name<\/strong> as promoter.<\/li>\n\n\n\n<li>Or you make your <strong>wife<\/strong> the <strong>major shareholder<\/strong>.<\/li>\n\n\n\n<li>You appoint your <strong>driver as director<\/strong> under <strong>undue influence<\/strong> (referencing <strong>Section 16, Indian Contract Act<\/strong>).<\/li>\n<\/ul>\n\n\n\n<p>Still, the <strong>real brain behind the curtain<\/strong> will be held liable.<\/p>\n\n\n\n<p><strong><em>Read Also: <a href=\"https:\/\/shop.igpinstitute.org\/insight\/khwaja-muhammad-vs-husaini-begum-case-study\/\">Khwaja Muhammad vs Husaini Begum Case Study \u2013 Beneficiary Can Sue<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Control-Based_Promoter\"><\/span><strong>5. Control-Based Promoter<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You can be considered a promoter even if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You hold <strong>90% shares<\/strong>, but show your wife holding 10% and she\u2019s listed as the promoter.<\/li>\n\n\n\n<li>You give <strong>advice\/directions<\/strong> behind the scenes.<\/li>\n<\/ul>\n\n\n\n<p>If the company runs as per <strong>your instructions<\/strong>, you <strong>are the promoter<\/strong>, <strong>even if your name isn\u2019t mentioned anywhere!<\/strong><\/p>\n\n\n\n<p><strong><em>Read Also: <a href=\"https:\/\/shop.igpinstitute.org\/insight\/understanding-jurisdiction-types-with-real-world-application\/\">Understanding Jurisdiction \u2013 Types with Real World Application<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Exception_Professionals_Arent_Promoters\"><\/span><strong>6. Exception: Professionals Aren\u2019t Promoters<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>What if the <strong>Board acts on a CA or CS\u2019s advice?<\/strong><\/p>\n\n\n\n<p>Sir clarifies:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAgar professional capacity mein advice diya gaya hai \u2014 CA, CS, CMA, Advocate, Banker \u2014 unko promoter nahi mana jaega.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>So, <strong>professional advisors are excluded<\/strong>, even if their advice is followed.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Real-Life Style Example: Gauri Khan &amp; Pathaan<\/strong><\/h4>\n\n\n\n<p>Sir adds a pop culture reference:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u201cProduced by Gauri Khan\u201d<\/strong> \u2014 means she\u2019s the <strong>promoter<\/strong> of that production company.<\/li>\n\n\n\n<li>Even if <strong>SRK<\/strong> gave her the money!<\/li>\n<\/ul>\n\n\n\n<p>It\u2019s about <strong>who is on paper<\/strong>, <strong>who gave instructions<\/strong>, and <strong>who controls operations<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.igpinstitute.org\/ca-foundation-coaching-classes.php\"><strong>Join CA Foundation Classes Now<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_447_%E2%80%93_Fraud_Punishment\"><\/span><strong>Section 447 \u2013 Fraud Punishment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If any <strong>misstatement, concealment, or false declaration<\/strong> is made at the time of incorporation \u2014 the promoter gets booked under <strong>Section 447<\/strong>, with <strong>harsh penalties<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPromoter fasega, director fasega \u2014 jinhone galat declaration di!\u201d<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways_%E2%80%93_What_You_MUST_Remember\"><\/span><strong>Key Takeaways \u2013 What You MUST Remember<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Rule<\/th><th>Example<\/th><\/tr><\/thead><tbody><tr><td><strong>1<\/strong>. Named in <strong>prospectus<\/strong> or <strong>annual return<\/strong><\/td><td>\u201cRishabh Gaur\u201d written in either = Promoter<\/td><\/tr><tr><td><strong>2<\/strong>. <strong>Controls<\/strong> the company (as shareholder or otherwise)<\/td><td>Has 90% shares but hides behind wife<\/td><\/tr><tr><td><strong>3<\/strong>. Board acts on <strong>instructions<\/strong><\/td><td>Gave direction to director, even if off-record<\/td><\/tr><tr><td><strong>EXCEPTION<\/strong>: <strong>Professionals not liable<\/strong><\/td><td>Advice by CA or CS not counted<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Final Thoughts by Rishabh Sir<\/strong><\/h4>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPromoter banna hai? Soch samajh kar banna! Agar company ne kuchh ulta kiya, toh sabse pehle jiska naam hai \u2013 <em>usko hi pakdenge!<\/em>\u201d<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exam_Relevance_CA_Foundation\"><\/span><strong>Exam Relevance (CA Foundation)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Section 2(69)<\/strong> \u2013 Definition of Promoter<\/li>\n\n\n\n<li><strong>Section 7<\/strong> \u2013 Incorporation process<\/li>\n\n\n\n<li><strong>Section 92<\/strong> \u2013 Annual Return<\/li>\n\n\n\n<li><strong>Section 447<\/strong> \u2013 Punishment for Fraud<\/li>\n\n\n\n<li><strong>Section 16 (Indian Contract Act)<\/strong> \u2013 Undue Influence<\/li>\n<\/ul>\n\n\n\n<p><strong>Learn From the Best at IGP Classes<\/strong>:<\/p>\n\n\n\n<p>This explanation is part of Rishabh Gaur Sir\u2019s legendary lectures at IGP Classes for CA Foundation Law. His examples are not just memorable, but also exam-oriented, logical, and rooted in real-world application.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the world of company law, understanding the role and liability of a promoter is absolutely essential. Rishabh Gaur Sir (IGP&#8217;s Faculty), known for his dynamic and example-driven teaching style at IGP CA Foundation Classes, breaks down Section 2(69) of the Companies Act, 2013, which defines the term \u201cPromoter,\u201d using real-life logic, quirky comparisons, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[163],"tags":[186,157],"class_list":["post-7188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ca-foundation","tag-ca-career","tag-ca-foundation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Who is a Promoter? | Explained by Rishabh Gaur Sir (CA Foundation - Company Law) - IGP Institute Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shop.igpinstitute.org\/insight\/who-is-a-promoter-explained-by-rishabh-gaur-sir-ca-foundation-company-law\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who is a Promoter? | Explained by Rishabh Gaur Sir (CA Foundation - Company Law) - IGP Institute Blog\" \/>\n<meta property=\"og:description\" content=\"In the world of company law, understanding the role and liability of a promoter is absolutely essential. 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