DARSHAN 27 June 2017

Authorized Signatory

Hi Sir, I want to know the pros and cons of authorized signatory. I was appointed authorized signatory in a company whose directors are foreigners. Now I have left the company but company has not changed authorized signatory and are still using internet banking which still has me as Autorized Signatory in Bank, will that effect me in any way? If company does not close the account in future or change Autorized Signatory, is that a problem for me? I have sent email to bank that I am no longer associated with company Can you please provide your valuable suggestion BR, Darshan

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Adv. Vaishali Harish Gore (job) 27 June 2017

authorised signatory in financial matters means you are capable to witdraw x amount from the bank. after your resgination it must be stoped, you also write a letter/email to your company statating to remove your name from net and you will be not liable on any transaction since the day of your resignation

DARSHAN 27 June 2017

Thank you Vaishali, I have asked company to change authorized signatory and provide valid documents to Bank but they have not. Its been 4 Months now, what am I supposed to do?

DARSHAN 29 June 2017

I have sent email to Bank stating that after my last working day I am not responsible for any transactions in company account. But it has brought to my notice that company is using only internet banking. Will this effect me anyways?