Board Resolution Format

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF (COMPANY NAME) HELD AT THE REGISTERED OFFICE OF THE COMPANY AT (ADDRESS) ON (DATE) AT (TIME)

A proposal to open a current Account with the (Bank Name and Address) was placed before the Board for conducting its day-to-day financial transactions. After discussions, the Board unanimously:

“RESOLVED THAT Current Account in the name & style of ‘(COMPANY NAME)’ be opened with the (Bank Name and Address), for the operations of the activities of the Company and that the following Authorized Signatory(ies) of the Company be and are hereby authorized to open and operate the said account:

INDIVIDUALLY/JOINTLY

1. Authorized Signatory                                                    2. Authorized Signatory(Signature)                                                                                    (Signature)

AND

1. RESOLVED FURTHER THAT the said Bank be instructed to accept and act upon any instructions relating to the account kept in the name of the Company or relating to any transactions of the Company with the Bank, provided the instructions are signed by the authorized signatory(ies) of the Company in the manner mentioned as above.

 

2. RESOLVED FURTHER THAT the said Bank be instructed to accept receipts for money, deeds, securities and/ or other documents or papers or property or any indemnities given on behalf of the Company provided they are signed by the authorized signatory(ies) of the Company in the manner as mentioned above.

 

3. RESOLVED FURTHER THAT the bank be furnished with a list of the names of Directors of the Company and a copy of the Memorandum & Articles of Association and be from time to time informed by notice in writing under the hand of the Directors/Authorized Signatory of the Company of any changes which may take place therein and be entitled to act upon any such notice until the receipt of further notice under the hand of any Directors / Authorized Signatory.

 

4. RESOLVED FURTHER THAT above mentioned signatory(ies) be and is/are hereby authorized, on behalf of the Company, to sign, execute and deliver in the manner herein contained cheques or orders which may be drawn or bills accepted or notes made or receipts for monies owing by the Bank to the Company duly signed on behalf of the said Company in  respect  of  the  operations  of  the account and for all cheques, or other orders, which may be drawn or bills accepted or notes or negotiable instruments passed on the Company behalf of receipts for money owing by you to the Company and to debit such cheques, orders, bills, notes or negotiable instruments to the Company’s account with you whether such accounts or accounts be for the time being in credit or overdrawn or may become overdrawn of such debit without prejudice to the Bank’s right to refuse to allow any overdraft or any increase of overdraft and we shall be responsible for the repayment of any such overdraft and interest.
5. RESOLVED FURTHER THAT the Company do hereby apply to (Bank Name) for Net Banking/ Mobile Banking/ Debit Card facility.
6. RESOLVED FURTHER THAT the  Bank  is  hereby  authorized  to  mail  /  courier  the  User  ID  and Password to attention of the above mentioned signatory(ies) or to such persons as  directed  by  the  said  signatory(ies),  at  the  address  of  the  Company   recorded  with  the  Bank  and  that  the Company acknowledges, agrees and confirms  that  the  onus  of  keeping  the  User  ID  and  Password  for  usage  of  Net Banking / Mobile Banking / Debit Card, confidential and limited to the persons authorized by the Company/ partnership/ trust/ association/ society is entirely of the Company/partnership/trust/association/society.
7. RESOLVED FURTHER THAT the Company hereby, places the “Terms and Conditions and Rules for the Services”, as prescribed by the Bank for the  Net  Banking  /  Mobile  Banking  /  Debit  Card  facility/  Cash  Management Services as currently applicable, on record and confirms its acceptance of the same and that any of the persons  be and is hereby authorized to singly, sign or execute the application for availing the Services and the Terms and Conditions and Rules for the Services and to sign, execute and deliver such other documents, instruments, applications, letters and writings including fax cum email indemnity as deemed fit by the above mentioned applicant in relation to the banking accounts of the Company.

 

8. RESOLVED FURTHER THAT the resolution be communicated to the Bank and remain in force until duly rescinded and notice thereof in writing be given to the Bank by any of the Directors of the Company.”

“RESOLVED FURTHER THAT the aforesaid power entrusted to the said official shall be valid and effective unless revoked earlier by the Board or shall be exercisable by him so long as he is in the concerned to the Company.”

“RESOLVED FURTHER THAT all acts, deeds, things, matters, etc. as aforestated shall be deemed to be valid and enforceable only if they are consistent with the instant resolution as may be relevant in this case and that the Board shall not be responsible for any acts beyond the scope of the aforestated powers done by (Name of the authorized person(s) and such invalid, illegal acts, and acts done beyond the scope of  powers granted in this Resolution shall not bind the Company against any third parties or before any authorities  in any manner and that the Board shall not be answerable in that behalf.”

“RESOLVED FURTHER THAT a certified copy of the resolution be given to anyone concerned or interested in the matter.”

 

For (COMPANY NAME)                                                                 For (COMPANY NAME)  

(Director Name, Sign and Company Seal)       (Director Name, Sign and Company Seal)