SUBSCRIBE(free)-Daily Updates (Click Verification Link Received in Your Email)

Opening of Bank Account for Dividend payment : Board Resolution Format

Format Board Resolution - Opening of Bank Account for Dividend payment -

(a) In case of Declaration of Interim Dividend

“RESOLVED THAT a Current Account in the name and style of ‘(Company Name) – Interim Dividend (Year)’ be opened with (Bank Name) at its branch at (Address).


RESOLVED FURTHER THAT Shri VDF, Director and Shri TDF, Company Secretary, be and are hereby jointly authorized to sign the necessary forms, applications and other documents for the purpose of opening this current account.


RESOLVED FURTHER THAT the said Bank be and is hereby authorised to act in accordance with the instructions relating to the operation of the account and honour all cheques, warrants and any other negotiable instruments for payments, drawn, accepted, made, or signed on behalf of the Company jointly by any two of the following persons:

1. Shri VDF, Director

2. Shri TDF, Company Secretary

3. Shri PDF, General Manager - Commercial 


RESOLVED FURTHER THAT the Specimen Signatures of Shri VDF, Director, Shri TDF, Company Secretary and Shri PDF, General Manager – Commercial, be given to the Bank along with the necessary KYC and other documents.

RESOLVED FURTHER THAT the amount of interim dividend declared at the rate of __ percent for the year __ on the equity shares of the company be deposited in this account within 5 days.


RESOLVED FURTHER THAT the Bank be and is hereby instructed to change the nomenclature of this account to ‘Unpaid Dividend Account of (Company Name) – (Year)’ on (Date i.e. the 37th day of Declaration of Dividend).


RESOLVED FURTHER THAT a Certified true copy of the above resolution, be forwarded to the Bank, under the signature of Shri VDF, Director and Shri TDF, Company Secretary.”


 (b) In case of Declaration of Final Dividend


“RESOLVED THAT a Current Account in the name and style of ‘(Company Name) – Dividend (Year)’ be opened with (Bank Name) at its branch at (Address).


RESOLVED FURTHER THAT Shri VDF, Director and Shri TDF, Company Secretary, be and are hereby jointly authorized to sign the necessary forms, applications and other documents for the purpose of opening this current account.


RESOLVED FURTHER THAT the said Bank be and is hereby authorised to act in accordance with the instructions relating to the operation of the account and honour all cheques, warrants and any other negotiable instruments for payments, drawn, accepted, made, or signed on behalf of the Company jointly by any two of the following persons:

1. Shri VDF, Director

2. Shri TDF, Company Secretary

3. Shri PDF, General Manager - Commercial


RESOLVED FURTHER THAT the Specimen Signatures of Shri VDF, Director, Shri TDF, Company Secretary and Shri PDF, General Manager – Commercial, be given to the Bank along with the necessary KYC and other documents.


RESOLVED FURTHER THAT amount of final dividend declared at the rate of __ percent  for the year __ on the equity shares of the company be deposited in this account within 5 days from the date of declaration of the final dividend in the __Annual General Meeting of the Company.


RESOLVED FURTHER THAT the Bank be and is hereby instructed to change the nomenclature of this account to ‘Unpaid Dividend Account of (Company Name) – (Year)’ on (Date i.e. the 37th day of Declaration of Dividend).


RESOLVED FURTHER THAT a Certified true copy of the above resolution, be forwarded to the Bank, under the signature of Shri VDF, Director and Shri TDF, Company Secretary.”

Submit/See Comments With: or

No comments:

Post a Comment