Scribd
Upload
455 views2 pages

Authorisation To Operate The Bank Account

The document authorizes specific officials of the Company to operate its bank account with the designated bank, allowing them to sign and transact on behalf of the Company. It outlines various powers granted to these officials, including the ability to negotiate notes, apply for credit, and borrow money. The resolution confirms that all previous transactions with the bank are ratified and that the bank can rely on this authority until further notice.

Uploaded by

kuldeep singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
455 views2 pages

Authorisation To Operate The Bank Account

The document authorizes specific officials of the Company to operate its bank account with the designated bank, allowing them to sign and transact on behalf of the Company. It outlines various powers granted to these officials, including the ability to negotiate notes, apply for credit, and borrow money. The resolution confirms that all previous transactions with the bank are ratified and that the bank can rely on this authority until further notice.

Uploaded by

kuldeep singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

AUTHORISATION TO OPERATE THE BANK ACCOUNT

"RESOLVED THAT _______________________ Bank (hereinafter called "the Bank") be and is hereby
designated a depository of funds of the Company and the below mentioned officials is/are hereby
authorised to sign (……………………………………………………………………………………):

(i) MR. __________

(ii) MR.___________

(iii) Smt.__________

Singly MR. ______________________________ and any one /two other (s) for and on behalf of the
Company any and all cheques, drafts or other orders with respect to any time with the Bank whether
any such account (s) be for the time being in credit or otherwise inclusive of any such cheques, drafts or
other orders in favour of any of the above designated officer (s) and/or other person (s) and that the
Bank be and is hereby further authorised to pay and debit the same to any account of the Company
then maintained with it and that the Bank is hereby further authorised to receive for deposit to the
credit of the Company and/or for collection for the account of the Company any and all cheques, drafts,
notes or other instruments for the payment of money, whether or not endorsed by the Company each
such item being deemed to have been unqualifiedly endorsed by the Company and also to receive as the
act of the Company, reconcilement of account (s) and that the above designated officer (s) and/or other
person (s) is/are authorised to transact any and all such business with or through the Bank at any time
(s) as may be deemed by him/them to be advisable including without limiting the generality of the
foregoing authority.

1. To discount and/or negotiate notes, drafts or other commercial paper.

2. Apply for letters or other forms of credit


3. Sign and settle exchange contracts.

4. Sign and/or endorse bills of lading and other documents of title to goods.

5. Sign and obtain delivery of merchandise against trust receipt

6. Borrow money with or without security from time to time provided that the monies so borrowed
together with monies previously borrowed and remaining outstanding at any one time MRall not exceed
Rs. __________/- only.

7. Pledge mortgage or otherwise hypothecate any property to the Company.

8. Purchase exchange sell or otherwise deal in or with any stocks, bonds or other securities.

9. And in reference to any of the business or transactions of the Company to make/enter into, execute
and deliver to the Bank such negotiable or non-negotiable instruments, indemnities, guarantees or
other mortgages, pledges and/or other documents to any such officer (s) or other person(s) as may
seem to be necessary or desirable or as may be required by the Bank.

That any withdrawals and borrowings of money and/or other transactions here-in-before had on behalf
of the Company with the Bank are hereby ratified, confirmed and approved and that the Bank may rely
upon the authority conferred by this entire resolution until the receipt by it of a certified copy of a
resolution of this Board revoking or modifying the same”.

You might also like