A Board Resolution Change Authorised Signatory Bank is a crucial corporate document required when a company needs to modify its authorized signatories for banking operations in India. This document becomes necessary during various corporate scenarios, such as when key personnel leave the organization, new officials join, or the company restructures its financial operations. The resolution, governed by the Companies Act 2013 and banking regulations, must include specific details about new signatories, their powers, and operating instructions for the bank. It serves as the primary instrument for communicating changes in banking authority to financial institutions and ensures smooth transition in banking operations while maintaining proper corporate governance and regulatory compliance.
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1. Title and Company Details: Full legal name of the company, CIN number, registered office address
2. Meeting Details: Date, time, venue of the board meeting, and statement of proper convening
3. Directors Present: List of directors who attended the meeting and confirmation of quorum
4. Chairperson: Name of the person chairing the meeting
5. Previous Authorization Reference: Reference to existing signatory arrangements being replaced
6. Main Resolution: Clear statement of the board's decision to change authorized signatories
7. New Signing Authority Details: Names, designations, and specific powers of new authorized signatories
8. Operating Instructions: Specific signing limits and combinations of signatories required for different transaction amounts
9. Certification: Declaration of the resolution's validity, usually signed by the Company Secretary or Director
1. Bank Account Details: List of specific bank accounts affected - used when changes apply to specific accounts only
2. Revocation of Previous Authority: Explicit revocation of previous signing authorities - used when complete replacement is needed
3. Digital Banking Authorization: Authorization for internet/digital banking access - used when digital access needs to be specified
4. Special Instructions: Any special conditions or restrictions - used when there are specific operational requirements
5. Effective Date: Specific date when changes take effect - used when implementation is not immediate
1. Schedule A - List of Bank Accounts: Detailed list of all bank accounts with account numbers and branches
2. Schedule B - Specimen Signatures: Specimen signatures of all authorized signatories
3. Schedule C - ID Proofs: Copies of ID and address proofs of new signatories
4. Appendix 1 - Previous Board Resolution: Copy of previous board resolution being superseded
5. Appendix 2 - KYC Documents: Required KYC documents for new signatories as per bank requirements
Relevant legal definitions
Company
Board
Director
Authorized Signatory
Bank
Banking Operations
Operating Mandate
Signing Authority
Transaction Limits
Digital Banking
Internet Banking
Corporate Internet Banking
Specimen Signature
Financial Year
Corporate Identification Number
Registered Office
Articles of Association
Companies Act
Board Meeting
Resolution
Chairman
Company Secretary
KYC Documents
Operating Instructions
Board
Director
Authorized Signatory
Bank
Banking Operations
Operating Mandate
Signing Authority
Transaction Limits
Digital Banking
Internet Banking
Corporate Internet Banking
Specimen Signature
Financial Year
Corporate Identification Number
Registered Office
Articles of Association
Companies Act
Board Meeting
Resolution
Chairman
Company Secretary
KYC Documents
Operating Instructions
Clauses
Corporate Authority
Meeting Validity
Previous Authority Revocation
New Appointment
Signing Powers
Transaction Limits
Operating Instructions
Bank Account Operations
Digital Banking Access
Document Submission
Certification
Implementation
Bank Communication
Specimen Signatures
Identity Verification
Corporate Seal
Resolution Validity
Regulatory Compliance
Board Approval
Meeting Validity
Previous Authority Revocation
New Appointment
Signing Powers
Transaction Limits
Operating Instructions
Bank Account Operations
Digital Banking Access
Document Submission
Certification
Implementation
Bank Communication
Specimen Signatures
Identity Verification
Corporate Seal
Resolution Validity
Regulatory Compliance
Board Approval
Relevant Industries
Banking and Financial Services
Manufacturing
Information Technology
Retail
Healthcare
Real Estate
Construction
Education
Telecommunications
Energy
Transportation and Logistics
Professional Services
Non-Profit Organizations
Agriculture
Mining and Resources
Relevant Teams
Finance
Legal
Corporate Secretarial
Compliance
Treasury
Corporate Governance
Board Secretariat
Accounts
Senior Management
Risk Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
Company Secretary
Finance Director
Treasury Manager
Financial Controller
Board Director
Compliance Officer
General Manager
Finance Manager
Accounts Manager
Corporate Governance Officer
Managing Partner
Executive Director
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