Board Resolution for Closing Bank Account



If any Current Account(s) maintained with any Bank(s) by a Company becomes non-operational or for any other reasons and the Board of Directors thinks it fit to close such account, then a resolution may be passed in the Board Meeting to close such accounts.

Draft  Resolution to be passed in the Board Meeting :

(a) In case of Closure of only One Bank Account:

“RESOLVED THAT the Current Account number _________ of the Company maintained with (Bank Name), (Branch Name), be closed and the said bank be and is hereby instructed to refund the balance amount, if any lying in the said account through Bankers Cheque (city) in the Name of the Company.


RESOLVED FURTHER THAT Mr. X, Director be and is hereby authorised to sign and execute all such document(s) or instrument(s) and do all such acts, deeds and things as may be necessary for closing the said account.

RESOLVED FURTHER THAT a Certified True Copy of this resolution be forwarded to the bank(s) under the signature of Mr. KP, Company Secretary.”

(b) In case of Closure of more than one Bank account:

“RESOLVED THAT the consent of the Board of Directors be and is hereby accorded to close the following non-operational bank accounts of the company and the bank(s) be and are hereby instructed to refund the balance amount, if any lying in the said account, through Bankers Cheque (city) in the Name of the Company:

Sr. No.
Name of the Bank, at Branch
Address
A/c No
A/c Type
1.
2.

RESOLVED FURTHER THAT Mr. X, Director be and is hereby authorised to sign and execute all such document(s) or instrument(s) and do all such acts, deeds and things as may be necessary for closing the said accounts.

RESOLVED FURTHER THAT a Certified True Copy of this resolution be forwarded to the bank(s) under the signature of Mr. KP, Company Secretary.”