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Sample Board Resolution for Opening / Closure of Demat Account


I. Format of Board Resolution for Opening Demat Account :-


"RESOLVED THAT the consent of the Board of Directors of the Company be and is hereby given to open and operate a Demat account in the name of the Company with Central Depository Services (India) Limited(CDSL) / National Security Depository Limited(NSDL) through one of its Depository Participant (DP) M/s. ______________.


RESOLVED FURTHER THAT the following Authorised Signatories be and are hereby severally authorised to sign and submit, on behalf of the Company, the application form and all such documents as may be required in relation to the opening of the demat account with M/s. __________________.



Sl. No.

Name

Designation

1.

Ms. D

Managing Director

2.

Mr. M

Executive Director

3.

Ms. A

Company Secretary

4.

Mr. T

Vice President-Finance


RESOLVED FURTHER THAT M/s. __________________, DP be and is hereby authorised to act upon the instructions as may be given by above 4(four) signatories severally relating to the demat account and to accept all the demat delivery instructions, etc. from time to time.


RESOLVED FURTHER THAT the above Directors/Signatories be and are hereby authorised to give such undertaking or indemnities as may be required by M/s. ______________ from time to time for the operation of the account.


RESOLVED FURTHER THAT the above resolution be communicated to the said M/s. ___________, DP and remain in force until the same is withdrawn/cancelled or modified by the Board of Directors by another resolution and the extract whereof is forwarded to M/s. ___________, DP.


RESOLVED FURTHER THAT a copy of the above resolution certified to be true by Mr. _________, Director / Company Secretary be forwarded to M/s. ____________ together with the copy of the Memorandum and specimen signatures of the above signatories.


II. Format of Board Resolution for Closing Demat Account :-


RESOLVED THAT the consent of the Board of Directors be and is hereby granted for the closure of the Beneficiary / Demat Account No. _________ with M/s. ___________, as per terms and conditions as may be laid down by CDSL/NSDL.

RESOLVED FURTHER THAT the existing shares which are in Demat form with M/s. __________, DP be transferred to the new DP-M/s. _____________ and to take necessary actions to give effect of such transfer.

RESOLVED FURTHER THAT Ms. _____________, Company Secretary be and is hereby authorized to sign and submit form(s) or document(s) as may be necessary in relation to the transfer and/or closing the above account.

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