Defination
This query is : Resolved
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"?
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- IT returns for fresh job holders
- F&O reporting in ITR
- Difff in ais receipts and gst turnover
- ITR 44AD SECTION
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
