Can company have md & ceo both under new company act
This query is : Open
28 November 2014
Can company have MD & CEO both under new company act
Because under section 129
Financial Statement should be signed by two directors out of which one shall be managing director and the Chief Executive Officer.
Can anyone please explain.
Because under section 129
Financial Statement should be signed by two directors out of which one shall be managing director and the Chief Executive Officer.
Can anyone please explain.
28 November 2014
MD and CEO both not mandatory.
129 is not the section. It is 134(1).
If CEO is a director, financial statements can be signed by CEO and any other director.
If CEO is not a director, should be signed By MD and any other director.
129 is not the section. It is 134(1).
If CEO is a director, financial statements can be signed by CEO and any other director.
If CEO is not a director, should be signed By MD and any other director.
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28 November 2014
Sir can i summarize like this authentication process
1. BOD approval
2. Signature
a. Chairperson (If authorised by BOD)
or by 2 directors (One of them should be MD)
b. CEO
c. CFO
D. CS
1. BOD approval
2. Signature
a. Chairperson (If authorised by BOD)
or by 2 directors (One of them should be MD)
b. CEO
c. CFO
D. CS
28 November 2014
Sir can i summarize like this authentication process
1. BOD approval
2. Signature
a. Chairperson (If authorised by BOD)
or by 2 directors (One of them should be MD)
b. CEO
c. CFO
D. CS
1. BOD approval
2. Signature
a. Chairperson (If authorised by BOD)
or by 2 directors (One of them should be MD)
b. CEO
c. CFO
D. CS
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29 November 2014
If condition (a) is satisfied, no need to satisfy clause (b) above.
29 November 2014
(1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the chairperson of the company where he is authorised by the Board or by two directors out of which one shall be managing director and the Chief Executive Officer, if he is a director in the company, the Chief Financial Officer and the company secretary of the company, wherever they are appointed, or in the case of a One Person Company, only by one director, for submission to the auditor for his report thereon.
Sir here "or" is used once for chairperson v/s 2 directors
and then we have "comma" for CEO (Director) , CFO , CS that means all have to sign.
"," comma should be interpreted as "and"
Sir here "or" is used once for chairperson v/s 2 directors
and then we have "comma" for CEO (Director) , CFO , CS that means all have to sign.
"," comma should be interpreted as "and"
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