Common Seal
Companies that are incorporated under the Companies Act, 2013 or any other Company Act are individual legal entities and can execute agreements in their name. Agreements can only be executed when a company puts its signature but a company can’t put their signature by themselves as they are only an artificial entity. The common seal is considered as the official signature of the company. But after the amendment of 2015 to the Companies Act 2013 the government has allowed the company that they can have the company seal only if they want. According to Section 21 of the Companies Act, 2013, the Board of the Company can appoint any essential person of the company as the signing authority of the company in specific matters to execute the agreement on behalf of the company. There can be more than one signing authority in the company dedicated to acting in different roles and executing the agreement in different segments of the company.