Q.Who are included in the definition of Promoter, as per the provisions of the MOF Act?
A. Section 2(c) of the MOF Act defines promoters. Promoter means and includes partnership firm, body or association of persons, irrespective of the fact whether it is registered or not.

The intention behind the body or association should be to construct block or buildings or flats or apartments for the purpose of selling some or all of them, to the persons or to a Company, Co-operative Society or other Associations of Persons.