Board resolution format for change in authorised signatories of bank accounts under Section 179, with revised mode of operation and the bank's KYC needs.
“RESOLVED THAT pursuant to the provisions of Section 179 and other applicable provisions, if any, of the Companies Act, 2013 read with the rules made thereunder and the Articles of Association of the Company, and in partial modification of the earlier resolutions of the Board, Mr./Ms. [●], [Designation], shall cease to be an authorised signatory of the Company's account(s) no. [●] with [●] Bank (the “Bank”) with effect from [●], and Mr./Ms. [●], [Designation], be and is hereby appointed as an authorised signatory of the said account(s) from that date.
RESOLVED FURTHER THAT with effect from [●], the said account(s) shall be operated by [any one / any two jointly] of the following authorised signatories, and the Bank be and is hereby authorised to honour cheques, instruments and electronic instructions signed or authenticated accordingly:
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to communicate this resolution to the Bank with the specimen signatures and KYC documents of the new signatory, to withdraw the internet banking rights of the outgoing signatory and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.