is the common seal mandatory to execute loan docs

Balkishan (Service) (26 Points)

10 April 2019

is common seal mandatory to execute loan docs of company or two directors signs are enough?

Reply
Follow
Share

4 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 10 April 2019

Yes... In the letter head.

Balkishan (Service) (26 Points)
Replied 10 April 2019

but as per 2015 company act amendment it is optional

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 10 April 2019

Yes.... The Loan Lenders also asked the Common seal in "LETTER HEAD". Not on all documents...

c.bakshi (practising company secretary) (3221 Points)
Replied 10 April 2019

common seal is not mandatory now. however, in practice Some Bank asks for it but if you convinced the bank then not mandatory

Start a New Discussion