Who stands in the fiduciary position of the company?

Directors

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Promoters

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Auditors

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None of the above

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Solution

The correct option is B Promoters
The promoter stands in a fiduciary relationship to the corporation and its investors, as well as any co-promoters. Promoters have a fiduciary duty to act in good faith and with utmost honesty, and they must always put the interests of the corporation and its shareholders above their own interests.

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Similar questions

‘Promoter enjoys a fiduciary position with the company.' Explain.

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