The Board Resolution For Bank Account Signatory is a fundamental corporate document required whenever a company needs to designate or modify authorized signatories for its bank accounts in India. This resolution is mandated under the Companies Act, 2013, and is essential for establishing or updating banking relationships. It is typically required when opening new bank accounts, changing existing signatories, modifying transaction limits, or updating operating instructions. The document needs to comply with both corporate law requirements and banking regulations, including RBI guidelines. It serves as the primary authority document for banks to recognize the company's authorized representatives and their permitted transaction limits.
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1. Title and Date: Specifies the type of resolution and date of the board meeting
2. Company Information: Legal name, registration number, and registered office address of the company
3. Meeting Details: Information about the board meeting including venue, time, and quorum details
4. Attendees: List of directors present at the meeting and those who participated through video conferencing
5. Previous Resolution Reference: Reference to any existing resolution being superseded or modified
6. Resolution Text: The main resolution text specifying the appointment of signatories and their powers
7. Bank Account Details: Specific bank account numbers and branches covered under this resolution
8. Signatory Categories: Classification of signatories and their respective transaction limits
9. Authentication: Signatures of the Chairman and Company Secretary certifying the resolution
1. Digital Banking Authorization: Include when authorizing internet banking, mobile banking, or other digital banking services
2. Special Powers: Include when granting specific additional powers like forex dealings or investment authorities
3. Operating Instructions: Include when specific combination rules for joint signatories need to be detailed
4. Supersession Clause: Include when explicitly revoking all previous resolutions on the subject
1. Appendix A - List of Authorized Signatories: Detailed list of authorized signatories with their designations, specimen signatures, and photographs
2. Appendix B - Transaction Limits Matrix: Matrix showing different transaction limits and required signatory combinations
3. Appendix C - KYC Documents: List of identity and address proof documents of authorized signatories
4. Appendix D - Existing Resolution: Copy of previous board resolution being modified or superseded (if applicable)
Relevant legal definitions
Company
Board of Directors
Board Meeting
Chairman
Director
Company Secretary
Authorized Signatory
Banking Operations
Operating Instructions
Transaction Limits
Authorized Bank Accounts
Specimen Signature
Digital Banking Services
Joint Authorization
Single Authorization
Financial Year
Corporate Internet Banking
Bank
Resolution
Quorum
Circular Resolution
Electronic Banking
KYC Documents
Operating Mandate
Supersession
Board of Directors
Board Meeting
Chairman
Director
Company Secretary
Authorized Signatory
Banking Operations
Operating Instructions
Transaction Limits
Authorized Bank Accounts
Specimen Signature
Digital Banking Services
Joint Authorization
Single Authorization
Financial Year
Corporate Internet Banking
Bank
Resolution
Quorum
Circular Resolution
Electronic Banking
KYC Documents
Operating Mandate
Supersession
Clauses
Resolution Adoption
Authority Delegation
Signatory Appointment
Transaction Limits
Operating Instructions
Bank Account Details
Digital Banking Authorization
Specimen Signatures
Document Authentication
Compliance Requirements
Previous Resolution Revocation
Bank Mandate
Effective Date
Certification
Communication to Bank
Corporate Seal
Director Authorization
Resolution Recording
KYC Compliance
Powers and Limitations
Authority Delegation
Signatory Appointment
Transaction Limits
Operating Instructions
Bank Account Details
Digital Banking Authorization
Specimen Signatures
Document Authentication
Compliance Requirements
Previous Resolution Revocation
Bank Mandate
Effective Date
Certification
Communication to Bank
Corporate Seal
Director Authorization
Resolution Recording
KYC Compliance
Powers and Limitations
Relevant Industries
Banking and Finance
Manufacturing
Information Technology
Healthcare
Retail
Real Estate
Education
Hospitality
Logistics
Construction
Professional Services
Non-Profit Organizations
Energy
Telecommunications
Agriculture
Relevant Teams
Finance
Legal
Corporate Secretarial
Treasury
Accounts
Corporate Governance
Banking Operations
Board of Directors
Senior Management
Compliance
Relevant Roles
Chief Executive Officer
Managing Director
Chief Financial Officer
Finance Director
Company Secretary
Board Director
Chairman
Treasury Manager
Finance Manager
Accounts Manager
General Manager
Chief Operating Officer
Regional Director
Vice President - Finance
Financial Controller
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