Board resolution format for closing a company bank account under Section 179, with transfer of balance, surrender of cheque leaves and statutory account checks.
“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, consent of the Board be and is hereby accorded to close the [current / [●]] account no. [●] maintained by the Company with [●] Bank, [●] Branch (the “Bank”), and to transfer the balance lying in it, after adjustment of the Bank's charges, to the Company's account no. [●] with [●] Bank, [●] Branch.
RESOLVED FURTHER THAT the Board records that the said account is not a dividend, unpaid dividend, share application money, unspent CSR, escrow or lien-marked account, and that all cheques issued on it have been presented or cancelled [or will be cancelled before closure].
RESOLVED FURTHER THAT Mr./Ms. [●], [Designation] and Mr./Ms. [●], [Designation], acting [jointly / severally], be and are hereby authorised to sign the closure request, surrender unused cheque leaves and debit cards, cancel standing instructions and mandates, obtain the closure confirmation from the Bank and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.