What is common seal
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2015
what is common seal and what is its importance.
28 April 2015
A Company is an Artificial Person in eyes of Law, it has no soul, it takes birth by the Operation of Law and ends it’s life by the Operation of Law. Like a natural person, it can’t sign by its own. As still it’s an Artificial Person and as it operates in the world market, there arises some situation where Law asks a Company to sign by putting its Common Seal on the Documents.
The acts of a Company in India are governed by the Companies Act, 2013. And the said Act, does not define the term ‘Common Seal’. Thus generally, a Common Seal mean the official seal of Company, wherein the name of the Company is engraved in full. Common Seals can generally be obtained from rubber stamp makers at minimal cost and at short notice. There is no compulsion under the Companies Act, 2013 that the common seal should be made in metal or any other material.
The acts of a Company in India are governed by the Companies Act, 2013. And the said Act, does not define the term ‘Common Seal’. Thus generally, a Common Seal mean the official seal of Company, wherein the name of the Company is engraved in full. Common Seals can generally be obtained from rubber stamp makers at minimal cost and at short notice. There is no compulsion under the Companies Act, 2013 that the common seal should be made in metal or any other material.
CA AnKiT BoHrA (AB)
(Expert)
29 April 2015
https://rna-cs.com/common-seal-under-companies-act-2013
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