Board resolution format for opening a bank account under Section 179, with authorised signatories, single or joint operation, KYC documents and practice notes.
“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 open a [current / [●]] account in the name of the Company with [●] Bank, [●] Branch (the “Bank”), and the Bank be and is hereby authorised to honour cheques, bills of exchange, promissory notes and other instruments, and to act on instructions, including electronic instructions, given in the name of the Company when signed or authenticated by [any one / any two jointly] of the authorised signatories named below:
RESOLVED FURTHER THAT a certified true copy of this resolution, together with the specimen signatures of the authorised signatories, be furnished to the Bank and that this resolution shall remain in force until a revised resolution of the Board is communicated to the Bank in writing.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to sign the account opening form, KYC documents and declarations 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.