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Board Resolution Format

1. The board of directors of [Company Name] Limited resolved to open a current account with ICICI Bank Limited and authorized certain signatories to sign application forms and documents to open and operate the account. 2. The board authorized various signatories to operate the account through different modes like phone banking, internet banking, debit cards, and ATM cards. The board also authorized additional signatories to be added in the future. 3. The board resolved to avail banking facilities from ICICI Bank like overdraft, cash credit, loans, letters of credit, and guarantees up to an aggregate limit of [Amount] secured by fixed deposits, and authorized signatories to execute the necessary documents.

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2K views

Board Resolution Format

1. The board of directors of [Company Name] Limited resolved to open a current account with ICICI Bank Limited and authorized certain signatories to sign application forms and documents to open and operate the account. 2. The board authorized various signatories to operate the account through different modes like phone banking, internet banking, debit cards, and ATM cards. The board also authorized additional signatories to be added in the future. 3. The board resolved to avail banking facilities from ICICI Bank like overdraft, cash credit, loans, letters of credit, and guarantees up to an aggregate limit of [Amount] secured by fixed deposits, and authorized signatories to execute the necessary documents.

Uploaded by

jayanthi_konda
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
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Board Resolution for Opening Current Account & availing Banking Facilities

Extracts of the meeting of the Board of Directors of <Company Name> Limited held on
<Month DD, YYYY> at_ <Place>.

Resolved that

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

(I) The persons named in Table A are authorised to sign 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

(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 Limits1
operations of Account Signature

(iii) The persons named in Table B shall be authorised to operate the Account through the 2mode
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)
3
Limit (Rs.) 4
Names of the Official From To To be Approved
(User) by:

(b) Phone Banking, Email


Sr. Name of the Official (User)
No.

(C) ATM Card / Debit Card


Sr. Name of the Official (User)
No.

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.

1 Optional
2 Different modes are optional and applicant can opt for any one or more of them
3 Applicant can set the Limits
4 Optional for Applicant and can be waived by Applicant.
5 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.

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
For ________________________Limited
Chairman/Managing Director/ Secretary
Dated <Month DD, YYYY>

Certified copy should be dated as on date of certification.


5 Op onal for applicant and within the op on the applicant can choose the product(s) for
availing and set limit(s) (even product-wise) and accordingly the clause can be altered. 6
To be inserted if required.

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