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Board Resolution for change in Authorised Signatory of Bank Account

TEMPLATE / FORMAT OF THE RESOLUTION TO BE PASSED IN THE BOARD MEETING OF A COMPANY


RESOLVED THAT in supersession of all the previous resolutions passed by the Board of Directors in their meeting, in respect of the Current Account bearing no. __________ of Company maintained with the ______ (branch name) of the ________ (bank), the limits of the authority of the authorised signatories to sign cheques on behalf of the Company, be and are hereby revised as under:



Sr. No.

Name of Signatory

Authority Type

Limit Amount (Rs.)

1

Mr. X with Mr. Y

Jointly

Up to Rs. 50 Lacs

2

Mr. Z

Jointly with any of the Signatories at Sr. Nos. 3 to 4

Up to Rs. 20 Lacs

3

Ms. R

Jointly with any of the Signatories at Sr. Nos. 2 to 4

Up to Rs. 10 Lacs

4

Mr. D

Singly

Up to Rs. 1 Lac


RESOLVED FURTHER THAT the said Bank be and is hereby informed and is hereby authorised to honour all Cheques, Bills of Exchange, Promissory Notes, Hundis and any other instruments for payments, drawn, accepted, made and signed on behalf of the Company.


RESOLVED FURTHER THAT any of the Directors of the Company be and is hereby authorised to forward a certified true copy of this resolution and any other documents as may be necessary to give effect to this resolution."
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