A Board Resolution For Change In Authorised Signatory is required when a company needs to modify its authorized signatories for banking, financial, or legal purposes. This could be due to various reasons such as employee departures, new appointments, or organizational restructuring. The document, governed by Indian corporate law, particularly the Companies Act, 2013, serves as official evidence of the Board's decision to change signatories and is required by banks and other institutions to update their records. It must include specific details about the meeting where the resolution was passed, clear identification of new signatories, their powers and limitations, and must be certified by appropriate company officials. This resolution is crucial for maintaining proper corporate governance and ensuring smooth business operations.
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1. Title and Company Details: Specifies the company name, CIN, registered office address and date of the resolution
2. Meeting Details: States the type of meeting (Board/Committee), venue, date, time and quorum details
3. Attendance: Lists the directors present at the meeting and those who joined through video conferencing
4. Chairman: Records who chaired the meeting
5. Previous Authority Revocation: Formally revokes the authority of previous signatories
6. New Signatory Appointment: Names and designates new authorized signatories with their specimen signatures
7. Scope of Authority: Defines the extent of signing powers and transaction limits
8. Operational Instructions: Specifies signing requirements (single/joint) and other operational mandates
9. Certification: Contains the certification by the Chairman/Company Secretary about the resolution's authenticity
1. Bank Account Details: Required when the resolution is specific to particular bank accounts rather than general signing authority
2. Special Powers: Needed when additional specific powers are being granted beyond standard banking operations
3. Digital Banking Authorization: Required when authorizing signatories for digital/online banking operations
4. Foreign Exchange Authority: Needed when authorizing dealings in foreign exchange transactions
5. Term of Authority: Optional section specifying the duration of the authority if not perpetual
1. Schedule A - List of Bank Accounts: Comprehensive list of all bank accounts covered under the resolution
2. Schedule B - Specimen Signatures: Specimen signatures of all newly appointed authorized signatories
3. Schedule C - Identity Proof: Details of identity documents of new signatories (KYC documents)
4. Appendix 1 - Supporting Documents: List of supporting documents like ID proofs, address proofs, and photographs of new signatories
Relevant legal definitions
Company
Board
Director
Authorized Signatory
Banking Operations
Board Meeting
Chairman
Company Secretary
Resolution
Articles of Association
Memorandum of Association
Corporate Identification Number
Financial Year
Registered Office
Specimen Signature
Video Conferencing
Quorum
Signing Authority
Joint Authority
Several Authority
Transaction Limit
Digital Banking
Electronic Platform
Operating Mandate
Board
Director
Authorized Signatory
Banking Operations
Board Meeting
Chairman
Company Secretary
Resolution
Articles of Association
Memorandum of Association
Corporate Identification Number
Financial Year
Registered Office
Specimen Signature
Video Conferencing
Quorum
Signing Authority
Joint Authority
Several Authority
Transaction Limit
Digital Banking
Electronic Platform
Operating Mandate
Clauses
Meeting Details
Attendance and Quorum
Board Authority
Revocation of Previous Authority
Appointment of New Signatories
Scope of Authority
Transaction Limits
Mode of Operation
Bank Account Details
Document Execution Authority
Digital Banking Authority
Specimen Signatures
Certification
Filing Requirements
Bank Notification
Attendance and Quorum
Board Authority
Revocation of Previous Authority
Appointment of New Signatories
Scope of Authority
Transaction Limits
Mode of Operation
Bank Account Details
Document Execution Authority
Digital Banking Authority
Specimen Signatures
Certification
Filing Requirements
Bank Notification
Relevant Industries
Banking & Financial Services
Manufacturing
Information Technology
Retail
Healthcare
Real Estate
Infrastructure
Education
Telecommunications
Professional Services
Energy & Utilities
Transportation & Logistics
Agriculture
Mining
Entertainment & Media
Relevant Teams
Legal
Finance
Corporate Secretarial
Compliance
Treasury
Corporate Affairs
Banking Operations
Board Secretariat
Risk Management
Corporate Governance
Relevant Roles
CEO
Managing Director
Company Secretary
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Board Director
Executive Director
General Manager
Treasury Manager
Banking Relations Manager
Corporate Affairs Manager
Financial Controller
Assistant Company Secretary
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