Can addition director sing b/s of publiccompany
This query is : Resolved
Pravin Mishra
(Querist)
10 July 2012
sir,
I am working in limited company and board composition of my company consist of only additional director and no other director.
My query is can additional director of limited company sing B/s and P&L in absence of other directors if no then what i should do to correct the Board composition as there is no other directors,
Can anyone pls help me its urgent.
I am working in limited company and board composition of my company consist of only additional director and no other director.
My query is can additional director of limited company sing B/s and P&L in absence of other directors if no then what i should do to correct the Board composition as there is no other directors,
Can anyone pls help me its urgent.
Ajay Mishra
(Expert)
10 July 2012
Hi
Yes, additional director has absolute authority to sign Balance Sheet and Profit and Loss account. For signing on behalf of the board they should be member of the Board of Directors.
Yes, additional director has absolute authority to sign Balance Sheet and Profit and Loss account. For signing on behalf of the board they should be member of the Board of Directors.
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Pravin Mishra
(Querist)
10 July 2012
thanks sir it is really useful for me.
Ajay Mishra
(Expert)
10 July 2012
Hi
Read section 215 and 217(4) of the Companies Act, 1956 it only says director means any director. So additional director has authority under above mentioned section to sign the same.
Read section 215 and 217(4) of the Companies Act, 1956 it only says director means any director. So additional director has authority under above mentioned section to sign the same.
CS Ankur Srivastava
(Expert)
11 July 2012
yes, addition directors can sign on the Balance Sheet of the company. Additional Director is also the director of the Company he has all such powers as a Director.
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