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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 such account, then a resolution has to be passed in the board meeting approving the closure of the bank account(s).

Following formats are for your reference while drafting the resolution.

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 said 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 document(s) or instrument(s) and do all such acts, deeds and things as may be necessary for closing the said 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 forwarded to the bank.”

Comments

  1. Thank you very much. I am working in V. J. Automobiles Private Limited Company, Shantinagar, Ulhasnagar 421 003. District - Thane. I am an accounts assistant.
    It helps me a lot.

    ReplyDelete

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