Signing of balance sheet.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2012 Dear All,

Is it mandatory for a Company Secretary to sign a Balance Sheet. What would be the effect if he does not sign the same for any reason.

BR,

Jiten Gupta

Jiten Gupta (Expert)
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14 January 2012 As per the Section 215 of Companies Act 1956, If there is Manager or Secretary in the Company then Balance Sheet and Profit and Loss account shall be signed By One of them, Apart From 2 Directors signatures.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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14 January 2012 If you are a company secretary employed by the company and your name is appeared in ROC records as CS of Company then as per companies act you should sign the balance sheet along with 2 directors of the company.

Jiten Gupta

Jiten Gupta (Expert)
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14 January 2012 If any copy of a balance-sheet or profit and loss account which has not been signed as required by section 215 is issued, circulated or published;

the company, and every officer of the company who is in default, shall be punishable with fine which may extend to five thousand rupees.

Charu Srivastava

Charu Srivastava (Expert)
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15 January 2012 Yes, it is mandatory to get the balance sheet by Whole Time Company Secretary if employed in a Company, otherwise the company shall be liable for punishment as stated by Mr. Jitendra

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2012 Hey thanks,

Jitendra, Prashant, Charu.

But while having a discussion with my CS friends i came across cases where Company Secretary had not signed the Balance Sheet and all for reasons unknown. May be that there are some problems in that Balance Sheet. Is it OK for the CS to say no to signing.

BR.

Jiten Gupta

Jiten Gupta (Expert)
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16 January 2012 Dear Author,
You can do so but if your case comes into scrutiny then only u may have to face penal consequences for non compliance of section 215.

Charu Srivastava

Charu Srivastava (Expert)
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16 January 2012 Agree with Jitendra,
you will face problem in case of scrutiny.