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Sample Board Resolution for Opening / Closure of Demat Account
I. Format of Board Resolution for Opening Demat Account :-
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. __________________.
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.
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is withdrawn/cancelled or modified by the Board of Directors by another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.
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 :-
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.
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.