Section 21 and 22 of Companies Act 2013

[Supriya]

Dear All,

Under the old Companies Act, any person could be authorised by way of a board resolution to  represent the company and sign deeds, agreements, documents etc. on its behalf. 

However, under the new Act, Section 21 states that only a director, KMP or officer off the Company can execute an agreement on behalf of the Company whereas Section 22 states that the Company may authorise  any person as its attorney to execute deeds on behalf of the Company.

There appears to be a contradiction between the  two provisions.

Supriya

  

 

[Jayashree Chandrasekaran]

Dear Supriya,

Sections 21 and 22 are talking of different sets of activities

When it comes to contracts etc on behalf of the company it must be by a director,KMP etc

when it comes to execution of bills of exchange,promissory note any person express or implied

Jayashree

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C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

[Supriya Maulick Mahajan]

Thanks Jayashree. However Section 22(2) refers to execution deeds by an attorney and affixing of common seal, if the Company has one.

Regards,

Supriya Maulick Mahajan

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