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Board Resolution Format for Opening a New Bank Account

A certified copy of the board resolution regarding opening of a bank account needs to be provided to the bank where a company wants to open a new bank account.

Additionally, the company will have to submit other documents as well.

Ensure that the following documents are in order before submission to the bank:
1) Application form duly filled in;
2) KYC documents of the authorised signatories, i.e. identity and address proofs;
3) Specimen signatures of the authorised signatories.
4) Certified true copy of the board resolution;
5) Any other documents as may be asked by the bank.


FORMAT OF BOARD RESOLUTION

#. To open a new current account with ............. bank

“RESOLVED THAT a current account be opened (Bank Name), (Branch Name), (Location) in the name of the company namely “(COMPANY NAME)”.

RESOLVED FURTHER THAT any two Directors of the company be and is hereby authorised to sign and attest the account opening form, memorandum and articles of the company and any other supporting documents of the company, as may be necessary 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
Designation
Authority Type
Amount Limit
1.
Ms. XYZ
Managing Director
Singly
No limit.
2.
Mr. ABC
GM-Finance
Singly
Up to Rs. ……
3.
Ms. JKL
GM-Operations
Singly
Up to Rs. ……
4.
Mr. ABC & Ms. JKL
- do -
Jointly
Up to Rs. ……

RESOLVED FURTHER THAT the Managing Director or the Company Secretary or any two Directors of the company be and is hereby authorised to sign a certified true copy of the foregoing resolution to the (Bank Name).”

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