Circular resolution - bank account opening

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Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2018 Hi All

Can we pass a circular resolution for opening of Bank account ?

CS Peer mehboob

CS Peer mehboob (Expert)
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03 August 2018 The Companies Act requires certain business to be approved only at Meetings of the Board. However, other business can be approved by means of Resolutions passed by circulation. Opening of Bank account is one such business which need not be approved in board meeting only and can be passed by means of resolution passed by circulation.