Can only one director sign, where there are two directors?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2014
In a case of private company, there are two directors having joint signing authority in bank account. Now there are some disputes between them, can a single director pass a resolution by saying that only one director can sign cheque without consent of other?
What are the provisions in company's act regarding this?
What are the provisions in company's act regarding this?
Nikhil Kaushik
(Expert)
17 June 2014
not at all unless the said power was vested to him through a board resolution signed by both directors earlier.
17 June 2014
since while opening a bank account co must have choosen joint operations that is y single director cant operate it.
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