26 May 2011
Before incorporation, Bank account can not be opened as the Bankers will demand from you the copy of AOA & MOA, as well as Board Resolution, PAN No etc.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
26 May 2011
No i have come across examples in real situation what are the consequences
26 May 2011
My reply is in connection with the bank account of a company which has opened a Bank A/c prior to incorporation.
The matter may create serious consequences for the responsible officer of the Bank. Pl. do not disclose the name of the Company and its Banker.
However, in the first board meeting if the directors ratify the transaction entered, even, prior to incorporation, effect in the accounts of Company can be given subsequently.