Can Trust be considered as a promoter?

[Sanjana Suresh]

If a Trust is holding 25 % shares of the Company will they be considered as Promoter of the Company?

[Ayushi Sharma]

I think..if the trustees are promoters of the company then the trust should be considered as promoter.

On Mon, Feb 1, 2021 at 2:43 PM Sanjana Suresh <sanjana...@gmail.com> wrote:

If a Trust is holding 25 % shares of the Company will they be considered as Promoter of the Company?

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Thanks & Regards

CS Ayushi Sharma

Contact No: 8741911565

[mukesh mishra]

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 referred to in section 92; 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:

Provided that nothing in sub-clause (c) shall apply to a person who is acting merely in a professional capacity

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