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Passing of Resolution

khushboo (CS) (234 Points)

14 June 2010

If any company having business of consultancy and BPO and banks are client then is that necessary to pass resolution for opening of bank account to claim fees from such bank.

further

weather resolution at each time is required to open a branch office of company in other cities and states ?????.

Plz reply as its very urgent

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3 Replies

Srikant (CA,CS,CMA,LLb,M.Com) (1289 Points)
Replied 14 June 2010

Originally posted by : khushboo
	If any company having business of consultancy and BPO and banks are client then is that necessary to pass resolution for opening of bank account to claim fees from such bank. further weather resolution at each time is required to open a branch office of company in other cities and states ?????. Plz reply as its very urgent

Yes, It is required to pass resolutions for opening Bank Account And It can be mentioned in the Resolution about the purpose for opening the bank Account.

And If Opening of Bank Accounts are necessary at other Cities in the Same Bank ( However I feel now a days these are not required in Core Banking era ) you can pass a common Resolution for the same mentioning the name of the Cities where the Account needs to be opened.

Different Resolutions are required for opening of Bank Accounts at Different Banks and / or in Different times irrespective of same or different Cities.

Regards,

Srikant

Srikant (CA,CS,CMA,LLb,M.Com) (1289 Points)
Replied 14 June 2010

Originally posted by : khushboo
	If any company having business of consultancy and BPO and banks are client then is that necessary to pass resolution for opening of bank account to claim fees from such bank. further weather resolution at each time is required to open a branch office of company in other cities and states ?????. Plz reply as its very urgent

Yes, It is required to pass resolutions for opening Bank Account And It can be mentioned in the Resolution about the purpose for opening the bank Account.

Different Resolutions are required for opening of Bank Accounts at Different Banks and / or in Different times irrespective of same or different Cities.

Regards,

Srikant

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 14 June 2010

It is advisable to pass separate resolution to open a branch office of company in other cities and states reason being by a separate resolution you can authorise/name a person to manage the branch office.

Thanks