Sec 215 - authentication of balance sheet


Khushbu (Practising Company Secretary)     18 January 2013

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 If a CS is appointed on 3rd December, 2012...Than, can he sign the balance sheet for the previous year i.e. 2011-12 if it is being adopted by Board on 7/1/2013??
 

 

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com )     18 January 2013

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Yes. The signing of CS in the financial statements is restricyed to authentication. That he certifies they are not fake and genuine. He does not take responsibilty as to the accuracy of them.

But your question is very interesting. How come the accounts of 31st March 12 is being approved by Board now ? The time for holding of AGM has expired assuming no extension is taken and this is not the first year.

can you please expalin.

avater

CS Ankur Srivastava (Company Secretary & Compliance Officer)     18 January 2013

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He can not sign in on or after december. If the appointment of COmpany Secretary has been made on or before the date of Board Meeting wherein the Balance Sheet is approved, then the Company Secretary may sign on the balance sheet irrespective of the fact that he was there or not during the year. If the CS is present in the Board Meeting approving the results he may sing on the Balance Sheet otherwise not.

Khushbu (Practising Company Secretary)     19 January 2013

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To,

Dipjyoti Majumdar

We had adjorned the AGM for adoption of Accounts.

 

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Tanveer Md Masood (Indispensable)     20 January 2013

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 A cs can sign the balance sheet only if he is authorised by the Board in board meeting- Morver, it is not mandatory for CS to sign the balcesheet- as per sec.215 , balance sheet needs o be signed either by the secrtary or the manger and by atleast two directors one of whom must bethe managing director of the company.  as per adoption of annual accounts and balance sheet is concerned , sec.210 ias to be adhered.

 

regards

Tanveer Mohammad Masood

Khushbu (Practising Company Secretary)     21 January 2013

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Thanx Mr. Tanveer, but since there is no Manager in the Company, a CS has to Sign it, right??

No need of Board authorisation as it is a statutory requirement since the paid up capital is more than 5 crores..And we cannot just assume the Direcotrs as Managers..right??

Please advice..

 

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com )     21 January 2013

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You are saying that AGM was adjourned for adoption of accounts. So if it has been approved by Board and then notice for AGM was isued then how can you change the audited financials by adding the signature of CS now.

Or is it that accounts have not yet been approved and/or audited but notice of AGM was issued. AGM was held and then adjourned.

Regards,

Khushbu (Practising Company Secretary)     21 January 2013

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Yes...Accounts were not adopted at that time..And AGM was held..and than adjourned..Later, Board Meeting was held where the CS was present... Please advice...

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CS Ankur Srivastava (Company Secretary & Compliance Officer)     21 January 2013

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If CS is present in the Board Meeting wherein the accounts were approved, he has to sign on the Balance Sheet.

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Tanveer Md Masood (Indispensable)     21 January 2013

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As per section 215 , annual accounts can be signed by the manger  or secretary, and by atleast 2 directors one of whom must be the managing director. If Cs is present and the manger is not , then the cs has the power to put his signature on the balance sheet.

Regards

Tanveer Mohammad Masood

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