Is it necessary for a comp to have a MD as Sec 215 states that B/s & P/L r req to be signed by two directors present in India, one of whom will be MD, when there is one.
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Signing of Balance Sheet
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Ya,
As per Section 215 of Company Act, it is necessary to company to signed by two director under b/s of Co. & P&L A/c out of one director must be Managing Director
and also
As per Section 140 of Income Tax, it is necessary to company in return of income to signed by the managing director thereof, or where, for any unavoidable reason, such managing director is not able to sign, or where there is no managing director, by any director of the company
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