Who will sign financial statement of private company …???

Here in this article I have shortly described the provisions of the company  Act  which deals with  to how many times a Board meeting must be held, and who will sign the board minutes and financial statement of company in a point wise manner……

Section 134 of the Companies Act states that Financial Statement of the company is required to be signed by following authorised persons.

• The chairperson of the company, If he is authorised by the Board or by two directors out of which one shall be managing director.
• The Chief Executive Officer, only if he is a director in the company.
• The Chief Financial Officer.
• The company secretary of the company.

As per section 173, every company must hold the first board meeting within 30 days of its incorporation. After that every company is required to hold at least four board meetings in a year ( jan- Dec). Time difference between two consecutive meetings can not be more than 120 days.

However,  this provision is not applicable to One person company, small company and dormant company. These companies are required to hold the board meeting at least once a six months and consecutive difference between board meeting can not exceed three months.

Signing  of board minutes

Minutes of the Meeting of the Board shall be signed and dated by the Chairman of the Meeting or by the Chairman of the next Meeting. Minutes of the previous Meeting may be signed either by the Chairman of such Meeting at any time before the next Meeting is held or by the Chairman of the next Meeting at the next Meeting.