board resolution
This query is : Resolved
19 October 2009
is board resolution necessary for opening for bank account to a public company under indian compamies act
19 October 2009
Yes it is compulsory otherwise Bankers will not open the account.
19 October 2009
Prepare a corporate resolution. This may be only the first of many corporate resolutions you'll create in the future. This document will specifically state the individuals and officers permitted to act for the corporation in banking matters. These people can sign checks, open accounts, transfer money, invest funds and perform all other banking necessities under their signature(s). You may give these individuals complete authority to act for the corporation, or authorize one or more people to commit the company in some cases, but not others. The corporate resolution advises the bank of your authority wishes and its responsibilities to respect them.
19 October 2009
thanq u , is there any provision saying that resolution is must?
19 October 2009
Yes. Pl go through section 35A of the Banking Regulation Act,1944 read along with Guidelines on KYC norms vide notification of RBI DBOD.AML.BC/8/14.01.001/2002-03 dated 16/08/2002 with particular reference to clause 2.1(ii).
19 October 2009
Thank you sir for sharing section 35A
20 October 2009
KYC norms of RBI DBOD.NO.AML.BC.58/14.01.001/2004-05 November 29, 2004 is correct
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Experts need help
- Putting a heading on received mail
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
