Board Resolution- bank account

TO CLOSE BANK ACCOUNT OF THE COMPANY:

RESOLVED to close Current / Saving Bank Account with___________Bank Ltd., __________Branch maintained in the name of the company with Account Number____________ and Managing Director/Director Mr.____________ be and is hereby authorized to make necessary request to the above mentioned bank along with a copy of this resolution and do all other things as may be necessary to complete the closure of the account. 

FURHTE RESOLVED THAT Managing Director Mr._______________ be and is hereby authorized to collect the balance amount in the above mentioned account on behalf of the company either in cash or by of pay order or Demand Draft drawn in his personal name (or in the name of _________and ………….) , if the bank is not willing make the payment in cash.


TO OPEN A  BANK ACCOUNT FOR THE COMPANY:

“RESOLVED that a current bank account in the name of the company be opened with <> and Mr. X, Director of the company be and is hereby authorized to sign or accept all cheques, bill of exchanges, promissory notes and other orders.

RESOLVED FURTHER that the aforesaid bank be and is hereby instructed to honour 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 moneys deposited with or owing by the bank or 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, orders or receipt provided they are endorsed/ signed  by the said person on behalf of the company and such signature shall be sufficient authority to bind the company in all transactions between the bank and the company including those specifically referred to herein.”

FOR AVAILING CREDIT FACILITY FROM BANK

Letter No …………………………………..received from <  > Bank, regarding renewal of credit facilities of  the Company was placed before the meeting and

 IT WAS

“ RESOLVED “  that …………….., a director of the Company be and is here by authorized to execute the necessary documents required by the Bank in this connection and that the common seal of the Company be affixed wherever necessary in the presence of   ………….director of the company in terms of Articles of Association in the Company.

“ FURTHER RESOLVED “  that …………………., a director of the Company be and is here by authorized to execute the necessary documents required by the Bank in connection with providing corporate guarantor ship for credit facilities taken by  <name of the Company> and that the common seal of the Company be affixed wherever necessary in the presence of   …………………., a director of the company in terms of Articles of Association in the Company.

FURTHER “ RESOLVED”  that the revival letter as well as any other instrument document or paper including revival letters as may be required by the Bank to be executed by the Company in respect of the said credit facilities from time to time be executed by the company under its Common Seal to be affixed in the presence of any one director of the Company as per Articles of Association of the Company.

FURTHER “ RESOLVED “ that the cash credit account be opened in the name of the Company with the …………………………….. India, ……………….. Branch  and that (1)   ………………..  (2) ………………. (3) ……………….   directors of the company be and are hereby authorized severally (or jointly as the case may be) to operate on the said accounts with the <  > Bank whether in debit or credit and to draw or endorse cheques, make endorse and accept bills, withdraw and deposit money, sign receipt and give discharges for and one behalf of the Company, sign stock statements and do any or all things necessary for the conduct of the said cash credit account.

FURTHER “ RESOLVED “ that a certified copy of the minutes be forwarded to the <bank>  for their record.