Filing of board resolution
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2014
Sir
A Newly Incorporated Company wants to open a current account. Bank is requiring a Copy of Board Resolution duly filed with ROC along with Payment Receipt.
Is there provision in law that the Board resolution for opening bank account to be filed with ROC.
If it is required, then which section to quote in form MGT-14.
Please reply. It's Urgent.
A Newly Incorporated Company wants to open a current account. Bank is requiring a Copy of Board Resolution duly filed with ROC along with Payment Receipt.
Is there provision in law that the Board resolution for opening bank account to be filed with ROC.
If it is required, then which section to quote in form MGT-14.
Please reply. It's Urgent.
22 August 2014
Board resolution for opening of bank account need not required to be filed with ROC.
24 August 2014
No need to file form MGT 14 in above mentioned case.
Filing of form MGT.14 is mandated by section 117 of the Companies Act, 2013. Section 117(2), prescribe the penalty for non-filing of form MGT.14.
As per Section 117(2), if a company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than five lakh rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default, including liquidator of the company, if any, shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.
For more clarity about form MGT.14 read my article available at the link mentioned below:
https://www.caclubindia.com/articles/list-of-resolutions-to-be-filed-with-roc-in-form-mgt-14-20664.asp#.U8O57KM27cs
Thanks
Filing of form MGT.14 is mandated by section 117 of the Companies Act, 2013. Section 117(2), prescribe the penalty for non-filing of form MGT.14.
As per Section 117(2), if a company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than five lakh rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default, including liquidator of the company, if any, shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.
For more clarity about form MGT.14 read my article available at the link mentioned below:
https://www.caclubindia.com/articles/list-of-resolutions-to-be-filed-with-roc-in-form-mgt-14-20664.asp#.U8O57KM27cs
Thanks
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