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Discussion > Corporate Law > Others >

SIGNING OF BALANCE SHEET BY THE MANAGING DIRECTOR

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Company Secretary

[ Scorecard : 7303]
Posted On 21 August 2009 at 15:51 Report Abuse

In case where there are 2 Managing Director, 1 chairman and 5 directors in a compnay,whether both the MD should sign the balance sheet as per section 215 ?


Also clarify whether chairman of the company is mandatorily required to sign balance sheet as required by section 215 ?


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Ankur Garg
Company Secretary and Compliance Officer

[ Scorecard : 95632]
Posted On 21 August 2009 at 16:10

Hi Neha,

 

If you go by the language of section 215(1)(ii) it is not required at all that both should sign the balance sheet.

No. Chairman of the company is not mandatorily required at all to sign balance sheet.

Read the language of Section 215(1)(ii) carefully.

 

Regards





CA SHABIR
CA

[ Scorecard : 316]
Posted On 23 August 2009 at 23:09

Hi Neha,

 

As per section 215 of Companies Act., 1956. Balance Sheet must be signed by 1. Secretary 2. MD (One is sufficient) 3. Two Directors one of them should be wholetime director.

 

Thanks




Srikant
CA,CS,CMA,LLb,M.Com

[ Scorecard : 1279]
Posted On 24 August 2009 at 17:47

Originally posted by :NEHA JAIN
" In case where there are 2 Managing Director, 1 chairman and 5 directors in a compnay,whether both the MD should sign the balance sheet as per section 215 ?

Also clarify whether chairman of the company is mandatorily required to sign balance sheet as required by section 215 ?
"

Hello,

As per the language of Section 215 of the Companies Act, 1956 Balance Shet & Profit and loss account of a Company other than Banking Company should be authenticated on behalf of the Board of Directors. The following persons can sign it -

1. Manager or Secretary (if any)

2.at least 2 Directors - One of whom shall be a M.D Where there is one

Thus if there is a MD, then he must authenticate the Balance Sheet and P/L Account. where there are more than one MD still it is suuficient if it is signed by one MD.

So far as Chairman is concerned , it is not mandatory for him to sign but it is possible when there is Chairman cum Managing Director i.e. CMD.

Hope the explanation will be as per your requirement


 




CS Ankur Srivastava
Company Secretary & Compliance Officer

[ Scorecard : 14906]
Posted On 25 August 2009 at 18:00

Dear Neha,

 

The  above clarifications are quite clear

Thus in your case following signatures are required:-

1MD + 1 Director (may be Chairman) + CS (if any)




Muruganandhan
Trainee

[ Scorecard : 35]
Posted On 26 April 2010 at 18:40

As per Sec 215, the B/s should be signed by CS or Manager, if any, and Two Director and one shall be MD, if any. Here, the B/S is reaady, but the Secretary and the Manager resigned from the company, but still they are in the notice period. Can they sign the B/S? if yes, is it mandatory to sign the B/S by any one of them?



MOHIT SALUJA
PRACTICING CS Jalandhar 9914558709

[ Scorecard : 1223]
Posted On 26 April 2010 at 21:02

the balance sheet must have been signed by atleast two directors, one of them must be managing director(if any), if there is not mg. director, then by 2 director at least. and if there is any secretary, his signatures are also mandatory in such case. no requirement of chairman is there as per law




anjali
service

[ Scorecard : 83]
Posted On 28 September 2010 at 15:14

if a company has 2 directors and 1 wtd is it compulsory for wtd to sugn b/sheet



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