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Format Board Resolution

1. The Board of Directors resolved to open a current account with ICICI Bank and authorized Aniket Bag as the signatory for opening the account. 2. Several officials were authorized to operate the account through various modes like internet banking, phone banking, debit/ATM cards. Limits for these modes of operations were also specified. 3. The Managing Director, Executive Director, and Finance Director were given the authority to avail various banking facilities like overdraft, cash credit, loans from ICICI Bank up to a specified aggregate limit, secured against fixed deposits generated from the current account. Officials were also authorized to complete procedures to avail these facilities.

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Devasish Panda
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194 views

Format Board Resolution

1. The Board of Directors resolved to open a current account with ICICI Bank and authorized Aniket Bag as the signatory for opening the account. 2. Several officials were authorized to operate the account through various modes like internet banking, phone banking, debit/ATM cards. Limits for these modes of operations were also specified. 3. The Managing Director, Executive Director, and Finance Director were given the authority to avail various banking facilities like overdraft, cash credit, loans from ICICI Bank up to a specified aggregate limit, secured against fixed deposits generated from the current account. Officials were also authorized to complete procedures to avail these facilities.

Uploaded by

Devasish Panda
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Board Resolution for Opening Current Account, availing Banking Facilities, CIB & IPS

Extracts of the meeting of the Board of Directors of _____________________________ held


on________________________at Bengaluru

Resolved that

1. A Current Account (“Account”) in the name of the Company be opened with ICICI Bank Limited (“ICICI
Bank”) at Old Airport Road

(I) The persons named in Table A are authorised to sign severally/jointly and deliver necessary Application Forms
and other documents thereof and do all acts and deeds as may be required by ICICI Bank in connection with
opening/ activating the Account as well as for operating the Account and that the Company accepts the terms and
conditions applicable for the Account or in connection with any product or service offered in respect of such Account
contained in the Application Forms and displayed on the website www.icicibank.com ("Website");

Table A

Authorised Signatory for opening of Designation Specimen Signature


Account
Aniket Bag Director

(ii) ICICI Bank be instructed to accept and credit to the Account all moneys deposited with (or) owing by ICICI
Bank on any account or accounts at any time or times, kept or to be kept in the name of the Company and the
amount of all cheques, notes, bills, other negotiable instruments, promissory notes, orders or receipt, provided they
are endorsed/signed/issued jointly/severally (strike off which is not applicable) on behalf of the Company by the
Authorised Signatories mentioned in Table A2 below:

Table A2
Authorised Signatory for Designation Specimen Signature Limits
operations of Account
(iii) The persons named in Table B shall be authorised to operate the Account through 2 the mode of Phone Banking,
Internet Banking,E-mail, Debit Card, ATM Card offered by ICICI Bank for operation of the Account from time to
time. However, the Authorised Signatory for operations of the Account (change if any other signatory) are severally
authorised to collect the applications and other documents from the Authorised Signatories mentioned in Table B
and submit the same to ICICI Bank and collect the Login ID and Password(s)/ Debit Cards/ ATM Cards, as the case
may be, from ICICI Bank and deliver the same to the respective Authorised
Signatory.

Table B

(a) Corporate Internet Banking (CIB)

Names of the Official Limit (Rs.) To be Approved by:


(User) From To
Prasanna Kumar R

(b) Phone Banking, Email

Sr. Name of the Official (User)


No.
1
2

(C) ATM Card / Debit Card

Sr. Name of the Official (User)


No.
1
2

2. The Managing Director / Executive Director / Finance Director of the Company are severally authorised to
additionally authorize such other official(s) to operate the Account in any of the modes indicated above and decide
on adopting any other mode of operation of the Account that ICICI Bank may offer from time to time and details of
every such additional authorization / adoption of mode of operation shall be placed before the next meeting of the
Board of Directors for information.

3. The Company does avail and the Managing Director/ Executive Director/ Finance Director are severally
authorised to avail from ICICI Bank facilities in the normal course of business in the form of Overdraft, Cash credit,
Demand Loan, Bill purchase/ Discount, Letters of Credit, Letter of Undertaking (Buyers Credit), Bank Guarantee
and such other Fund based / Non-Fund based Facility(ies) as may be offered by ICICI Bank from time to time upto
the Limit of Rs. <Amount> in aggregate / individually (delete inapplicable), secured/ backed by 100% Fixed Deposit
with ICICI Bank generated from the amount standing in the Account, on such terms and conditions as may be
stipulated by ICICI Bank and the Authorised Signatory mentioned in Table C6 are severally authorised to negotiate,
finalise, settle, execute and deliver with/ to ICICI Bank such documents as may be required by ICICI Bank and
complete all formalities for creating Fixed Deposit out of the Account and creating security thereon in favour of
ICICI Bank in the manner required by them for availing the Facility(ies).

Table C

Sr. Name of the Official (User)


No.
1
2

4. Copies of the foregoing Resolutions certified to be true copies by the Chairman/ Managing Director/ Secretary of
the Company be furnished to ICICI Bank and it be requested to act thereon.

CERTIFIED TO BE TRUE
Chairman/Managing Director/ Secretary

Dated –

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