Company bank account operation
This query is : Resolved
15 July 2013
Dear Sir,
I wants to understand how can a Board of Directors of Pvt Ltd Company change its bank account operation from single authorised signatory to twin authorised signatory?
Brief of the case
Our company have three Board of Directors and one of the director independently handling company account as per board resolution made in the yr 2010. Now other two directors detect some irregularities in the account hence, decide to change single operation mode to twin operation mode in the bank. However the present authorised signatory (Director) is against the proposal. (Also informed that he himself holding 52% of shares of the company and other 2 directors have 40% of share holding, 20% each). Now I wants to understand that a board resolution for change of the above in the bank having two board of directors is sufficient for change in the bank?
I wants to understand how can a Board of Directors of Pvt Ltd Company change its bank account operation from single authorised signatory to twin authorised signatory?
Brief of the case
Our company have three Board of Directors and one of the director independently handling company account as per board resolution made in the yr 2010. Now other two directors detect some irregularities in the account hence, decide to change single operation mode to twin operation mode in the bank. However the present authorised signatory (Director) is against the proposal. (Also informed that he himself holding 52% of shares of the company and other 2 directors have 40% of share holding, 20% each). Now I wants to understand that a board resolution for change of the above in the bank having two board of directors is sufficient for change in the bank?
15 July 2013
u need to pass a special resolution and even the articles of company needs to be ammend and allow more then 1 director to operate bank jointly only.
16 July 2013
Dear Sir,
Thank you for the expert advise, sir one more question is how can other two directors pass special resolution if third director not agreed for the proposal. Is it valid for change of account operation from single to twin?
Thank you for the expert advise, sir one more question is how can other two directors pass special resolution if third director not agreed for the proposal. Is it valid for change of account operation from single to twin?
16 July 2013
IF MORE THEN 2/3 OF DIRECTOR PASSESS RESOLUTION AGAINST WRONG DOING OF OTHER DIRETCOR THEN THERE IS A CASE LAW N IT WAS HELD THAT REMAINING DIRECTOR CAN DO SO.
Message likes :
1 times
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
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Transfer of rectification rights to ao
- Which ITR application
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- Form 16 Issues
- IGST Refund pending since June 2022.
- Eway issued more than one
- SALES MADE THROUGH E COMMERCE OPERATOR 9(5)
- Igst utilisation query
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
Trending Online Classes
CAclubindia
