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Signatures by foreign director

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kings22

Shareholder

149 Points Posted on 02 October 2020

For private limited company the Board report and Financial Statements have to be signed by two directors - one is resident in India and the 2nd director is abroad.

How do companies get signatures from foreign director ? Can they just sign, scan and email the documents or these have to be signed and mailed with wet signatures ? Any guidance on how other companies do this? Many Thanks

Replies (3)

Quick Summary

This discussion explores the process for private limited companies in India requiring signatures from two directors, one resident in India and one abroad, for board reports and financial statements. It addresses whether scanned and emailed signatures are acceptable or if physical wet signatures are necessary. Guidance is sought on common practices and the specific requirements for documents submitted via AOC-4 and MGT-7.

CS M Pota

Company Secreatary

2613 Points Posted on 02 October 2020

They can sign and scan the documents

kings22

Shareholder

149 Points Posted on 03 October 2020

Thank you. Does this apply to Financial documents (Balance Sheet, P&L, Audit Statement) and also Company Report for ROC?

Also, can you please guide me how many signatures are required on each of these :before submitting via AOC-4 and MGT-7

1- Financial Statements

2- Board Report

Thanks and Regards

CS M Pota

Company Secreatary

2613 Points Posted on 03 October 2020

For the Financial statement and Board Report:

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 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, if any, and the Chief Executive Officer, the Chief Financial Officer and the company secretary of the company, wherever they are appointed or in the case of One Person Company, only by one director, for submission to the auditor for his report thereon.