can whole time director sign balance sheet when there is a MD in the company.
I saw a B/S which was signed by secretary+Whole Time Director+Director
whereas the director report was signed by chairman cum md
Is it possible when sec.215 requires it to be signed by 2 directors one of whom should be a MD
does MD here includes Whole Time Director?
MD here means MD only and not any other WTD.
As per Section 215 where the company has a MD, the balance sheet & profit and loss account shall be signed by secretary and by not less than two directors one of whom shall be a MD.
In your case since the company has MD the balance sheet & profit and loss account must be signed by MD,
| Originally posted by : Jayashree S Iyer | ||
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MD here means MD only and not any other WTD. As per Section 215 where the company has a MD, the balance sheet & profit and loss account shall be signed by secretary and by not less than two directors one of whom shall be a MD. In your case since the company has MD the balance sheet & profit and loss account must be signed by MD, |
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Agreed with Jayshree Iyer Ma'm.
regards
Santosh Shah
Agree, MD has to sign and it does not include WTD.
WTD has signed the B/S of Sterlite Industries (India) Ltd., a sens*x-30 company.
It may be an exceptional case falling under Section 215(2) where MD is out of India and the Board has approved the signing of accounts by WTD. But in such a case a statement stating the reason for non-compliance is to be attached.
Others views are solicited.
Regards,
Jayashree
CAclubindia
