Authentication of financial statements

No, if there is a MD in a Company, he has to sign the Financials as per this section.

Sec.134(1) reads as under:

"The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the chairperson of the company where he is authorised by the Board or by two directors out of which one shall be managing director and the Chief Executive Officer, if he is a director in the company, the Chief Financial Officer and the company secretary of the company, wherever they are appointed, or in the case of a One Person Company, only by one director, for submission to the auditor for his report thereon."

Thus as per  Sec.134 the financials have to be signed by the first category of persons as under:

By the Chairperson (if authorised by the Board - In this case MD need not sign)

                                   OR

By any two directors (including MD, if any.  If company has MD, he has to sign)