Board Resolution for Opening Bank Account


Board Resolution for Opening Bank Account

If a company wants to open a current bank account it has to take the approval of its board by way of passing board resolution in this regard. The different banks have their own format of application for making a request for the opening bank account. Along with the application form, the applicant is also required to submit the necessary supporting documents including a certified true copy of board resolution. Hereunder is the draft board resolution for opening bank account of a company.
RESOLVED THAT Current Account in the name & style of _________ be opened with the __________ 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:
1.              ______________________
2.              ______________________

RESOLVED FURTHER THAT the bank be instructed to honor all cheques, promissory notes, and other orders drawn by and all bills accepted on behalf of the company whether such account be in credit or overdrawn and to accept and credit to the account of the company all money deposited with or owing by the bank on any account or accounts at any time or times kept or to be kept in the name of the company and the amount of all cheques, notes, bills, other negotiable instruments, order or receipt provided they are endorsed/signed severally by any of the above directors and such signature shall be sufficient authority to bind the company in all transactions between the bank and the company ”.

FURTHER RESOLVED THAT  Shri ____________, director of the Company be and is hereby authorized to sign and submit necessary forms to get the online transaction facility in respect of aforesaid bank account.
"FURTHER RESOLVED THAT for the purpose of giving effect to this resolution, Shri ………………….. of the Company be and is hereby authorised, on behalf of the Company, to do all acts, deeds, matters and things as deem necessary, proper or desirable.” 

The above draft board resolution for opening bank account is only for reference purposes make sure to incorporate necessary changes as per your requirements before using this draft.

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