DRAFT BOARD RESOLUTION FOR AVAILING OF CORPORATE INTERNET BANKING


DRAFT-BOARD-RESOLUTION-AVAILING-CORPORATE-INTERNET-BANKING

DRAFT Board Resolution for Availing of Corporate Internet Banking


The Central Board of Direct Taxes, vide notification S.O.No.493(E) dated 13.3.2008 have notified that all the companies are required to pay the taxes electronically. In the light of the above referred notification of CBDT, Board of Directors accorded their consent to avail the Corporate Internet Banking facility for the online payment/deposition of TDS, Advance Tax, Income Tax, Dividend Distribution Tax and various other taxes and passed the following resolution unanimously :

RESOLVED THAT:

(A)    The Company do avail the ‘Corporate Internet Banking Service’ over Internet Channel, by whatever nomenclature it may be referred to now or ever, for the Current Account bearing No............... opened with ............ Bank at their ............................. Branch and the company do accept such terms, regulations, conditions, stipulations laid down by ............... Bank, from time to time, for the purpose.
(B)    The Company do execute necessary agreement form(s), authority letter(s) and any other related documents from time to time for this purpose.
(C) Shri ............................... and ............................. of the company, be and are hereby authorized to receive the Customer login ID and PIN mailers to access the Corporate Internet Banking facility.
(D)   Shri ............................... and ........................... of the company, are empowered by the Company jointly in respect of the Company’s Accounts to accept, sign, execute, deliver and complete all documentation, agreements, accounts opening forms, variation in any terms and conditions, nominate, substitute, revoke and vary mandate etc. from time to time and on behalf of the Company, be and is hereby authorized to apply for and avail of the ‘Corporate Internet Banking’ facility provided by ........... Bank and do all that they have been authorized, electronically using their User Name and password.
(E)   Each of the above authorized officials is also authorized to operate electronically transactions with ........................ Bank on behalf of the Company through ‘Corporate Internet Banking’ service on the company’s accounts including by causing a debit balance in the Company’s account(s) with .......... Bank and/or continually operate the account(s) within the permissible limit when overdrawn, as per the access specifications authorized in the Corporate Internet Banking form.
(F)       .................... Bank be and is hereby authorized to accept all valid instructions thourgh the ‘Corporate Internet Banking’ service on the company’s accounts including by causing a debit balance in the Company’s account(s) with ............ Bank and/or continually operate the account(s) within the permissible limit when overdrawn, as per the access specifications authorized in the Corporate Internet Banking form.
(G)        ................... Bank be and is hereby authorized to accept all valid instructions though the ‘Corporate Internet Banking’ service for the company.
(H)   The Company’s proposal to indemnify the ................. Bank in the event of any wrongful use or misuse of the Corporate Internet Banking service, be and is hereby approved.
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