Signing of Balance Sheet

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