Defination
This query is : Resolved
Pratik Gaurav
(Querist)
21 February 2017
What is "Whole time director"?
What is meant by "Authorized Signatory"?
Can a director, who has issued 25 odd cheques of a private limited company on different-different dates and signed Loan documents on behalf of company as its authorized signatory, but has never involved in real business of the company be termed as "Whole time director"?
What is meant by "Authorized Signatory"?
Can a director, who has issued 25 odd cheques of a private limited company on different-different dates and signed Loan documents on behalf of company as its authorized signatory, but has never involved in real business of the company be termed as "Whole time director"?
CS Mitesh Mehta
(Expert)
22 February 2017
As per Section 2 clause 54 of Companies Act, 2013
Whole-time Director means a director in the whole-time employment of the company. In other words, a director employed to devote the whole of his time and attention in the carrying on of the affairs of the Company.
An authorized signatory is an individual who has legal power to sign an official document on behalf of the company.
In your case merely signing of cheque in the capacity of authorised signatory does not make any person a whole time director
Whole-time Director means a director in the whole-time employment of the company. In other words, a director employed to devote the whole of his time and attention in the carrying on of the affairs of the Company.
An authorized signatory is an individual who has legal power to sign an official document on behalf of the company.
In your case merely signing of cheque in the capacity of authorised signatory does not make any person a whole time director
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Equity Share Sale and Purchase
- Additional trade name
- Whether output tax is taken credit by purchaser
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Number of years as per AS amortisation of Goodwill
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
