TO BE PRINTED ON THE LETTER HEAD OF THE COMPANY
Extracts of the minutes of the meeting of the Board of Directors of COMPANY NAME held at ADDRESS on DATE
Resolved
(a) That a Current account (The Account) in the name of the Company be opened with <Name of the Bank> at <Branch Name> and that DIRECTOR NAME is/are hereby authorised to do so and sign the necessary forms and documents thereof SINGLY/ANYONE/JOINTLY by DIRECTOR NAME (Give full account operating instructions as the Company desires).
(b) And that the Bank be instructed to honour all cheques, promissory notes and other instruments 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 monies deposited with or owing by the Bank on any account or accounts at any time or time kept or to be kept in the name of the Company and the amount of all cheques, notes, bills, other negotiable instruments, orders provided they are endorsed/signed by DIRECTOR NAME (Give name and designation) of the Company for the time being, SINGLY/ANYONE/JOINTLY on behalf of the Company and such signature(s) shall be sufficient authority to bind the Company in all transactions between the Bank and the Company including those specifically rendered to herein. <Name of the Bank> is authorised to accept and/or act upon the instructions issued by the said DIRECTOR NAME (Give name and designation) SINGLY/ANYONE/JOINTLY
(c) And that the Company hereby authorises DIRECTOR NAME (Give name and designation) to open, operate and close the said account and also to place Term Deposit(s) in the name of the Company for any tenure and to prematurely withdraw the said Term Deposit(s).
(d) And that the Company avails of the Net Banking, Phone Banking, Debit Card, Payment Gateway and any transactions services in Mutual Funds offered by <Name of the Bank>. That the Company has read the terms and conditions applicable to these services and accepts the same.
(e) And that the Company hereby authorises DIRECTOR NAME (Give name and designation) to avail of the Net Banking, Phone Banking, Debit Card, Payment Gateway and any transactions services in Mutual Funds offered by the Bank as outlined in the form prescribed by the Bank.
FURTHER RESOLVED
THAT the company do and hereby nominate the below mentioned Officers/Employees (hereinafter referred to as “the makers”) to initiate the transaction/s for tax payment in net banking by inputting the required data
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FURTHER RESOLVED
THAT the company do and hereby nominate the below mentioned Officers/Employees (hereinafter referred to as “the checkers”) to authorize or cancel the tax payment transaction/s that have been initiated as per the preceding paragraph.
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(g) And that the Company undertakes to inform the Bank 15 days in advance in case any of its authorised signatory’s Net Banking, Phone Banking, Debit Card, Payment Gateway access and any transactions services in Mutual Funds needs to be revoked. The Company will not hold the Bank responsible if it does not comply with the aforesaid term.
(h) That the Company hereby authorizes the Bank to mail/courier the Debit Card and other enabling access such as PIN, password, etc. to the attention of the person(s) authorized as above at the mailing address ADDRESS and to record the same for all communication purposes.
(i) And that the Company do and hereby accept the terms and conditions applicable to such Account and services relating thereto and shall always be bound by and abide with them and their amendments from time to time and execute all necessary documents in favor of <Name of Bank> as are required for availing such facilities.
(j) And that the aforesaid terms and conditions be and is/are hereby approved and accepted and the said DIRECTOR NAME (Give name and designation) SINGLY/ANYONE/JOINTLY be and are hereby severally authorised to accept such modifications therein as may be suggested by the Bank.
(k) And that the stamp/Common Seal of the Company be affixed to the application from for the aforesaid opening of account and availing products and services as stated in the Memorandum and Articles of Association of the Company.
(l) And that a copy of any resolution of the Board if purporting to be certified as correct by any director of the Company or by the Secretary of the Company shall, as between the Bank and the Company, be conclusive evidence of the passing of the resolution so certified.
(m) And that this resolution be communicated to the Bank and shall remain in force until notice in writing of its withdrawal, or cancellation is given to the Bank by the Company. Certified that the above is a correct copy of the resolution passed on by the Board of Directors and that it has been entered in the usual course of business in the minutes book of the Company and signed therein by the Chairman of the meeting/Company and is in accordance with the Memorandum and Articles of Association of the Company.
