Hello ,
please suggest followings-
1) whether Whole time director cum CFO of listed Company can sign the Bsheet -if he was absent in the board meeting where bsheet was kept for conideration ??
2) is it necessary director have to be present in the board meeting , then only he can sign ?? i think there is no prohibition , he can sign ..
please suggest with any provisions/ prohibitions
NOPE, if a director is absent in meeting where FS of the were accepted, then the director cannot Sign those FS, am sure of it but not sure about the specific section, please lookup for the proper rules and sections.
Yes, the CFO can very well sign the Balance Sheet even if he was absent in the meeting. In fact as per Sec.134 it is mandatory for the CFO to sign the Balanace Sheet, if the company had a CFO on the date of the Board meeting in which financials were approved.
Dear,
since it is a listed company, hence according to the LODR, a CFO is required to certify ( sign) that financial statement does not contaign false statement WHILE( During something was happening) placing the financial result before the baord. so if u comply the law with spirit then his presence was required.
Absence of director in the meeting does not disentitle him from signing the documents.
the text of the Regulation 33(2) is as follow.
REGULATION 33(2) while placing the financial results before the board of directors, the
chief executive officer and chief financial officer of the listed entity shall certify
that the financial results do not contain any false or misleading statement or
figures and do not omit any material fact which may make the statements or
figures contained therein misleading.
CAclubindia
