Corporate and Other LawsMCQQuestion 12554 of 300
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Under Section 134(1) of the Companies Act, 2013, the financial statement, including consolidated financial statement, shall be approved by the Board of Directors before they are signed on behalf of the Board by at least:

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — The Chairperson (if authorized) or by two directors out of which one shall be Managing Director, and the CEO, CFO, CS (wherever appointed)

All Options:

  • AThe Chairperson (if authorized) or by two directors out of which one shall be Managing Director, and the CEO, CFO, CS (wherever appointed) ✓
  • BAny single director and the statutory auditor of the company
  • CAll directors of the company unanimously
  • DThe Chief Financial Officer alone without need of director signature

Detailed Solution & Explanation

Correct Answer: Option **A** (The Chairperson (if authorized) or by two directors out of which one shall be Managing Director, and the CEO, CFO, CS (wherever appointed)) **Statutory Provision (Section 134 - Financial Statement, Board's Report, etc.):** Section 134(1) provides that financial statements shall be signed on behalf of the Board at least by the chairperson of the company where he is authorized by the Board or by two directors out of which one shall be managing director, and the Chief Executive Officer, the Chief Financial Officer and the Company Secretary of the company, wherever they are appointed. Therefore, Option A is the correct legal position under the ICAI curriculum.

More Questions from Corporate and Other Laws

Under Section 77(1) of the Companies Act, 2013, within what initial statutory period must a company register a charge created on its property or assets with the Registrar of Companies (ROC)?

Under Rule 3(3) of the Companies (Acceptance of Deposits) Rules, 2014, what is the maximum aggregate limit of deposits that an eligible public company can accept from its members and the public?

Which of the following is a requirement for a company to buy back its securities under the Companies Act, 2013?

What is the tax treatment of buyback of shares by an unlisted company?

Explain the concept of differential rights and its significance in the context of buyback of securities.

What are the legal provisions governing the buyback of securities by a company in India?

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