Syed Ahmer Kazmi (Private Practise) 07 May 2019
In a company there were 3 directors. Last year 2 directors resigned and one new director was inducted.
In their Bank all 3 old directors were named. Now the original director wishes to remain sole signatory for banking purposes and he wishes to inform bank regarding the same.
The bank is asking for a Board Resolution and a cover letter. As per bank the Resolution must be signed by all 3 old directors.
1. Considering that two old directors resigned last year, how can they sign a new board resolution.
2. What is the resolution required.
Requesting follow professional colleagues to help.