Term deposit_BoD Resolution

[GIRIJA NAGVEKAR]

Dear All,

I urgently require format of Board resolution for opening Term deposit with bank in the name of the Company. (Short term deposit}

Thanks & Regards,

CS Girija Nagvekar

Company Secretary -in practise

9960285296

[Lakshman Thodupunoori]

This may useful to you.

“RESOLVED THAT the surplus funds of the Company remaining unutilized for the business purpose of the Company be invested in fixed deposit / term deposit account to be opened with ________ Bank (‘the Bank’), for an amount not exceeding Rupees___________ and for such period as may be considered expedient.

RESOLVED FURTHER that Mr. ___________, Managing Director be and is hereby authorized to sign all documents required for opening such account and to invest surplus funds in fixed deposit account as specified above and to avail overdraft thereon and to take such steps as may be required in this connection or which may be incidental or ancillary thereto.

RESOLVED FURTHER that Mr. ___________, Managing Director be and is hereby directed to send a copy of this resolution to the Bank and to affix the Common Seal of the Company on the documents to be submitted with the Bank.”

With regards,

Lakshman

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[GIRIJA NAGVEKAR]

Thanks Lakshman for your prompt reply. The BoD resln was very useful.

Regards,

Girija

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