Can non executive director be bank account signatory
Can non executive director be bank account signatory
AMIT GOGIA (senior consultant) (21 Points)
07 May 2018
3 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 07 May 2018
Yes, of course he can be.
AMIT GOGIA
(CA Practice )
(22 Points)
Replied 26 January 2019
Dear Sir, Are you sure??. Or Non executive director is just for attending board meetings?
CS M Pota
(Company Secreatary)
(3186 Points)
Replied 31 January 2019
Non executive director can be an authorised signatory in Bank and also in any financial and Non financial work including any leagl work too.Suppose the chairman of a Company who is also promoter but non executive director comes to office every day and take numbers of decisions in day today bisiness regarding finance, production, purchase markiting,legal etc.Can any body including MD or ED of the campnay stop him? No. The Board of Directors of the Comapny has aauthorised as auhorised signatory for Bank transaction and numbers of othe transactions on behalf of the Company.
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