Need clarification about signatory

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Manjula Manne (Querist)

20 June 2018 Respected Sir,

I’m working in a Pvt Ltd company, as a manager accounts, few months back we had A, B & C directors, who were also authorised signatories. In recent changes I have appointed as a director, A & B directors was resigned and the resigned directors are living in abroad (the resigned A director is not an indian & B director is living in abroad from more than 10 years). However there is no changes in the authorised signatory and we have not informed anything to the bank and we are sending the cheque books and bank related docs to abroad for their signature purpose and getting back the said docs. Is there any issue in this case? Secondly am I losing in this deal anything.

Kindly advise.
Thanks & Regards,
Manjula.M

JAGANATHAN R ACMA, SAP(Fi-Co)

JAGANATHAN R ACMA, SAP(Fi-Co) (Expert)

21 June 2018 Once directors resigned he cannot continue the relationship with business based on mutal understanding he can sign the bank documents., If mention the resolution we can sign., and any addition and deletion we have to inform to bank ., otherwise the old procedure will follow untill new resolution submit to bank

Manjula Manne

Manjula Manne (Querist)

21 June 2018 Dear Sir, many thanks for your reply but the said resigned Directors are living in abroad, in this regard is there any issue. kindly advise.

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