Hello,
Every time we import goods, we are asked to produce PD bond which we are submitting. Now, both authorized directors are overseas, can they authorize someone who is not share holder of the company to sign the bond?
Pl help as we need to import goods within a week.
Dear Geetha,
PD Bond means Provisional Duty Bond.If you clear the imported cargo on Provisional assessment as per the Section 18 of the Customs Act 1962 you need to submit to the Customs authorities a duty bond which is called PD Bond.Yeah you can authorised any other person by passing of Resolution at yopur Board meeting or you can delegate such power by Power of attorney or else if the Director who delegate the power is having such type of power.
Arvindkumar Maniar & Co.
Rajkot
CA
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