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Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2014 A Company having 2 director. One director is not available,
my question is that can one director sign board report of a company & Balance Sheet Too.

SHAKTI JINDAL

SHAKTI JINDAL (Expert)

21 February 2014 Balance sheet and Board’s Report are approved and adopted in a Board Meeting and a Board Meeting is held only if a minimum of 2 directors are present as quorum. In this case, if signing is taking place the same day, obviously it will be signed by both the directors. In case signing is taking place at a later date, it is not necessary that both the directors should sign on the same date. They may sign on different dates, as per their availability.

Nevertheless, if only 1 director is available and the other is not available, Company shall have to file with the ROC, along with Balance Sheet and Board’s Report, a signed statement explaining the reason as to why compliance with the provisions of sub-section (1) of Section 215 of the Companies Act, 1956 was not possible.

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