Boards resolution for opening bank current account

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rohit laad (Querist)
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20 October 2012 I Just want to which Resolution is more appropriate. please help...

1.Certified True Copy Of An Extract Of The Minutes Of The Meetings Of Board Of Directors Of Capigrow Consultants India Private Limited Duly Convened And At Which A Proper Quorum Was Present Held On 29st Day of September 2012 At 14-15, 3rd Floor, Jaora Compound, Indore, (M.P.). At 12.00 P.M.

Resolution for Opening of Bank Account

“RESOLVED THAT a Current Banking Account in the name of the company be opened with VIJAYA BANK at itsVIJAY NAGAR, INDORE Branch and the said bank be instructed to honour Cheques, Bills of Exchange and any other negotiable instruments signed by …………. and or By ………………. directors of Company either jointly or severally whose specimen Signature is appended below

1. 2.

and that any of the aforesaid Directors may endorse on behalf of the company and present for collection to the credit of the aforesaid Bank Account all Cheques, Bills Of Exchange and any other Negotiable Instruments.”

For and on behalf of Board of Directors

Chairman

Place:
Date:

OR

2.Certified True Copy Of An Extract Of The Minutes Of The Meetings Of Board Of Directors Of Capigrow Consultants India Private Limited Duly Convened And At Which A Proper Quorum Was Present Held On 29st Day of September 2012 At 14-15, 3rd Floor, Jaora Compound, Indore, (M.P.). At 12.00 P.M.

Resolution for Opening of Bank Account

“RESOLVED THAT a Current Banking Account in the name of the company be opened with VIJAYA BANK at itsVIJAY NAGAR, INDORE Branch and the said bank be instructed to honour Cheques, Bills of Exchange and any other negotiable instruments signed by anyone director of the company …………. and or By ……………….whose specimen Signature is appended below

1. 2.

and that any of the aforesaid Directors may endorse on behalf of the company and present for collection to the credit of the aforesaid Bank Account all Cheques, Bills Of Exchange and any other Negotiable Instruments.”

For and on behalf of Board of Directors

Chairman

Place:
Date:

please reply which one is more appropriate 1st or 2nd..

thanks in advance

Ajay Mishra

Ajay Mishra (Expert)
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20 October 2012 OPENING OF BANK ACCOUNT WITH CANARA BANK

“RESOLVED THAT a current bank account in the name and style of the Company be opened with Canara Bank..... and Mr. ......., Director of the company be and is hereby authorised to sign the documents to open the said account and authorised to honour all cheques signed as per the following limits:

1. Cheques up to the amount of Rs. 5,00,000/- signed jointly by two of the following:

a.) Mr. ...... Accounts & Finance
and
b.) Mr. ....., Authorised Signatory
or
c.) Mr. ......, Authorised Signatory

2. Any cheque for any amount without any upper or lower limit signed by Mr......., Director.

RESOLVED FURTHER THAT the aforesaid bank be and is hereby instructed to honour all cheques, promissory notes and other orders drawn by and all bills accepted on behalf of the company whether such account be in credit or overdrawn and to accept and credit to the account of the company all moneys deposited with or owing by the bank or 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, orders or receipt provided they are endorsed/ signed by the said person on behalf of the company and such signature shall be sufficient authority to bind the company in all transactions between the bank and the company including those specifically referred to herein.”

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