section 111 of the Companies Ordinance 1984 decides the obligation of a promoter.
1. In a constrained organization, the obligation of the chiefs or of any executive may, if so gave by the
update, be boundless.
2. In a constrained organization in which the risk of any executive is boundless, the chiefs of the organization, if
any, and the part who proposes a man for decision or arrangement to the workplace of chief, should add to that proposition an announcement that the risk of the individual holding that office will be boundless and the promoters and officers of the organization, or one of them should, before that individual acknowledges the workplace or acts in that, give him see in composing that his risk will be boundless.
3. In the event that any chief or promoter makes default in including such an announcement, or if any promoter or officer of the organization makes default in giving such a notice, he should be obligated to a fine which may reach out to two thousand rupees and should likewise be subject for any harm which the individual so chose or named may support from the default, yet the obligation of the individual chose or delegated should not be influenced by the default.