Board resolution format for a corporate internet banking facility under Section 179, with administrator, maker and authoriser roles and transaction limits.
“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 the Company availing the corporate internet banking facility offered by [●] Bank (the “Bank”) for its account(s) no. [●] on the terms and conditions of the Bank, with the following users:
RESOLVED FURTHER THAT transactions shall be initiated by a maker and released by [any one authoriser up to ₹[●] and any two authorisers jointly above that amount], consistent with the mode of operation of the account(s) approved by the Board, and nothing in this resolution shall authorise any borrowing, loan, investment, guarantee or security.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to sign the application, user forms and other documents required by the Bank 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.