Employment and Business•VERSION 1.0

Board Resolution for Opening and Operating Company Bank Account

Jurisdiction:India (General)

Certified true copy of corporate board resolution under the Companies Act 2013 authorizing the opening and operation of current accounts with designated authorized signatories.

Legal NoticeGeneral template, legal applicability not verified.

Particulars (9 Fields)

01.Date of Board Meeting*

विवरण दर्ज करें

💡 Enter accurate date of board meeting

02.Full Company Name (with Pvt Ltd / Ltd)*

नियोक्ता / कंपनी का नाम

💡 Registered enterprise or organization name

03.Corporate Identification Number (CIN)*

विवरण दर्ज करें

💡 e.g. U72200MH2024PTC123456

04.Company Registered Office Address*

सम्पत्ति / परिसर का पूरा पता

💡 Complete municipal address with PIN code

05.Bank Name & Branch*

विवरण दर्ज करें

💡 e.g. HDFC Bank, Fort Branch, Mumbai

06.Authorized Signatory 1 (Name & DIN/Designation)*

विवरण दर्ज करें

💡 e.g. Rajesh Mehra, Managing Director (DIN: 01234567)

07.Authorized Signatory 2 (Name & DIN/Designation)*

विवरण दर्ज करें

💡 e.g. Priya Mehra, Director (DIN: 07654321)

08.Mode of Operation (Singly / Jointly)*

विवरण दर्ज करें

💡 e.g. Jointly by any two Directors or Singly up to Rs. 5,00,000

09.Chairperson / Director Signing Certification*

विवरण दर्ज करें

💡 Enter accurate chairperson / director signing certification

Contract Clauses & Optional Terms

Drag Handle to Reorder

Reorder terms via vertical drag handles or toggle statutory optional covenants. Clauses will automatically re-index sequentially in the agreement sheet.

Tenure & Term of Lease
The term of this lease/tenancy shall be for a fixed duration of {{dura...
Mandatory
Monthly Rent & Due Date
The Second Party covenants to remit a monthly rent of Rs. {{monthly_re...
Mandatory
Refundable Security Deposit
The Second Party has deposited an interest-free refundable security su...
Mandatory
Permitted Use of Premises
The demised premises shall be utilized exclusively for lawful resident...
Mandatory
Statutory Arbitration (Act 1996)
Any dispute arising hereunder shall be referred to a sole arbitrator a...
Delayed Rent Interest (18% p.a.)
Default in monthly rent remittance beyond the grace period shall attra...
Sub-Lease & Assignment Prohibition
The Second Party is strictly prohibited from sub-letting, parting with...
Pet & Society Bylaw Compliance
Domestic pets are permitted subject to strict adherence to resident we...
Force Majeure Calamity Suspension
Neither party shall be held liable for statutory defaults caused by fl...

Party 1 Signature / ExecutionDigital Canvas (HTML5)

Digital Signature Pad

Sign inside this box (Touch or Mouse)

Paper:

REF: BOARD-RESOLUTION-BANK-ACCOUNT

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF [Full Company Name (with Pvt Ltd / Ltd)] HELD ON [Date of Board Meeting] AT THE REGISTERED OFFICE OF THE COMPANY AT: [Company Registered Office Address] CIN: [Corporate Identification Number (CIN)] "RESOLVED THAT a Current Banking Account in the name of the Company be opened with [Bank Name & Branch], for conduct of routine business transactions. RESOLVED FURTHER THAT the following Directors / Officers of the Company: 1. [Authorized Signatory 1 (Name & DIN/Designation)] 2. [Authorized Signatory 2 (Name & DIN/Designation)] be and are hereby authorized to operate the aforesaid bank account [Mode of Operation (Singly / Jointly)], and to sign, draw, accept, endorse, and negotiate all cheques, bills of exchange, promissory notes, and electronic funds transfers (NEFT / RTGS / IMPS) on behalf of the Company. RESOLVED FURTHER THAT [Bank Name & Branch] be instructed to honor all cheques and orders signed in accordance with this resolution. RESOLVED FURTHER THAT [Chairperson / Director Signing Certification], Director of the Company, be authorized to provide a certified copy of this resolution to the Bank." CERTIFIED TRUE COPY: For [Full Company Name (with Pvt Ltd / Ltd)] _________________________________ (Signed: [Chairperson / Director Signing Certification]) Director / Managing Director DIN / Designation: Director

SCHEDULE OF TERMS, COVENANTS & CONDITIONS(6 ACTIVE CLAUSES)

1. TENURE & TERM OF LEASE: The term of this lease/tenancy shall be for a fixed duration of {{duration_months}} months commencing on {{commencement_date}} and terminating on {{expiry_date}} unless renewed by mutual consent.

2. MONTHLY RENT & DUE DATE: The Second Party covenants to remit a monthly rent of Rs. {{monthly_rent}} payable in advance on or before the {{rent_due_day}} day of each calendar month.

3. REFUNDABLE SECURITY DEPOSIT: The Second Party has deposited an interest-free refundable security sum of Rs. {{security_deposit}} with the First Party, returnable within 7 banking days of vacant handover.

4. PERMITTED USE OF PREMISES: The demised premises shall be utilized exclusively for lawful residential dwelling purposes and shall not be converted into commercial or industrial use.

5. STATUTORY ARBITRATION (ACT 1996): Any dispute arising hereunder shall be referred to a sole arbitrator appointed mutually under the Arbitration and Conciliation Act, 1996, with seat of arbitration in the execution city.

6. SUB-LEASE & ASSIGNMENT PROHIBITION: The Second Party is strictly prohibited from sub-letting, parting with possession, or assigning any portion of the premises to third parties without prior written consent.

ATTESTATION BY INDEPENDENT WITNESSES (AS PER APPLICABLE LAW)

First Witness

Signature:

Full Name:

Parent / Spouse:

Address:

Govt ID / Aadhaar:

Second Witness

Signature:

Full Name:

Parent / Spouse:

Address:

Govt ID / Aadhaar:

Page 1 of 1 • General Draft Template (A4)Jurisdiction: India (General)

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QUICK LEGAL SUMMARY (STATUTORY OVERVIEW)

What is a Board Resolution for Opening and Operating Company Bank Account?

A Board Resolution for Bank Account Opening in India is a formal corporate resolution passed by the Board of Directors of a Private Limited or Public Limited company. It authorizes opening a current account at a designated bank, delegates signing authority to specified directors or officers, and establishes operational spending thresholds.

LEGAL VALIDITY & GOVERNING ACTS

Enforceability in Indian Courts

Statutorily required by commercial banks and the Reserve Bank of India (RBI) under KYC and Companies Act 2013 regulations.

Registration Rule:Preserved in the statutory Minutes Book of the company under Section 118 of the Companies Act 2013.

STAMP DUTY & NOTARIZATION

Execution on Stamp Paper

Printed on company letterhead bearing official corporate seal and signature of the Director / Company Secretary.

PROCEDURE: Print first page on Non-Judicial Stamp Paper, attach subsequent pages on plain paper, and get notarized where applicable.

REQUIRED DOCUMENTS & VERIFICATION CHECKLIST

Documents Needed to Execute This Board Resolution for Opening and Operating Company Bank Account

Keep the following self-attested documents ready before signing and attesting the agreement:

Certificate of Incorporation

Memorandum & Articles of Association (MoA & AoA)

PAN card of company

KYC and DIN of authorized directors

CONTRACTUAL TERMS & CLAUSES

Essential Clauses in This Agreement Draft

Every clause is structured according to Indian statutory jurisprudence to safeguard the interests of both executing parties:

01.Resolution to Open Account

Formal corporate decision approving establishment of banking facility.

02.Delegation of Signing Authority

Empowers designated directors to draw cheques, execute NEFT/RTGS, and access net banking.

FREQUENTLY ASKED QUESTIONS

Legal FAQs on Board Resolution for Opening and Operating Company Bank Account

Who can certify a board resolution for bank submission?

A director who is not the sole beneficiary, the Managing Director, or the qualified Company Secretary (CS) can certify it as a True Copy.

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General Legal DisclaimerThe draft template provided on this page is for general reference and self-help informational purposes only. Applicable legal provisions, stamp duty rates, and registration procedures vary across Indian states and specific factual situations. This document generator does not create an advocate-client relationship and is not a substitute for formal legal advice from a licensed advocate.