Draft Board Resolution for Closing Bank Account of a Company

In case a company is maintaining a current account with any bank and it becomes non-operational or for any other reasons - the management deems it fit to close the account, then a resolution has to be passed in the meeting of the board of directors of the company for approval on the closure of the bank account.

Following is a template of board resolution for closing bank account(s) for your reference while drafting the resolution. Do modify as per your requirement.

Sample Board Resolution for Closure of only One Bank Account

#. To close the current account with ........... bank

“RESOLVED THAT the current account bearing number ............................... of the company maintained with (Bank Name), (Branch Name) be closed and the bank be and is hereby instructed to refund the balance amount, if any, lying in the account through bankers cheque, (city) in the name of the company.

RESOLVED FURTHER THAT (Name of the Director/Officer), (Designation) be and is hereby authorised to sign and execute all such form(s), document(s) and instrument(s) and to do all such acts, deeds and things as may be necessary for closing the account.

RESOLVED FURTHER THAT a certified true copy of the foregoing resolution be forwarded to the bank under the signature of the Managing Director or the Company Secretary.”

Specimen Board Resolution for Closure of Two or more Bank Accounts

#. To close the current accounts maintained with certain banks

“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 respective banks be and is hereby instructed to refund the balance amount, if any, lying in the respective accounts, through bankers cheque, (city) in the name of the company:

Sl. No.	Name of the Bank	Name of the Branch	Account Number	Type of Account

FURTHER RESOLVED THAT (Name of the Director/Officer), (Designation) be and is hereby authorised to sign and execute all such application forms, documents or instruments and to do all such acts, deeds and things as may be required for closure of the abovementioned bank accounts.

FURTHER RESOLVED THAT a copy of the foregoing resolution be signed and certified to be true by the managing director or any two of the directors of the company and be forwarded to the bank.”