Company Law Board Allows Authorized Agents to Sign Memorandum for Foreign Subscribers with Power of Attorney; Eases Registration.

The Company Law Board addressed concerns regarding the requirement for subscribers to personally sign a company's memorandum of association and any amendments, noting difficulties faced by foreign parties collaborating with Indian promoters. It decided that an authorized agent, with a power of attorney, can sign on behalf of a subscriber. The Board also suggested that Registrars provide guidance on drafting memoranda and articles, especially for inexperienced promoters, although they cannot commit to pre-approval. This approach aims to facilitate the registration process while accommodating practical challenges faced by subscribers.