14 May 2016
We are a wholly owned subsidiary of a listed company. In our upcoming meeting for adoption of audited accounts, our companys chairman is absent. Also we donot have managing director. So in our case, can any other 2 directors + cfo+ cs sign? Pls advise.
14 May 2016
According to Section 134 of the Companies Act 2013, Financial Statement shall be signed by the Chairperson of the Company or by two Directors of the Company out of which one should be Managing Director, , By the CFO and as well as by CS of the Company. So if Company is not having Managing Director and Chairperson is absent: Then as per the articles of the Company, if no chairman is present, then dIRECTORS PRESENT THERE MAY CHOOSE ONE AMONG THEMSELVES TO BE THE CHAIRPERSON OF THE MEETING.