Board Resolution for Opening Bank Account



The Certified Copy of the following resolution needs to be provided to Banks for opening Bank Account in any Bank, in addition to this KYC documents also is required to be provided to Bank for opening of the Account.


"RESOLVED THAT a Current Account be opened with (Bank Name), (address), (city) in the name of the Company namely “(COMPANY NAME)” and that all the Directors of the Company be and are hereby authorised to sign the account opening form and to do all that is necessary in this respect, on behalf of the Company.

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 by the following authorised signatories to the limits as prescribed below:

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. V
Jointly with any of the Signatories at Sr. Nos. 2 to 4
Up to Rs. 10 Lacs
4
Mr. Y
Singly
Up to Rs. 1 Lac

RESOLVED FURTHER THAT any Director of the Company be and is hereby authorised to give a certified true copy of the said resolution and a copy of Memorandum of Association and Articles of Association to the  (Bank Name), (address), (city)."