Board Resolution Format for Fixed Deposit with Axis Bank

CERTIFIED BOARD RESOLUTION: AUTHORIZATION FOR PLACEMENT OF FIXED DEPOSIT

Document ID: CORP-RES-FD-AXIS-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Insert State/Country, e.g., Republic of India]

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STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a formal template for corporate record-keeping. The user acknowledges that corporate resolutions must strictly adhere to the company’s Articles of Association and the governing corporate statutes (e.g., The Companies Act, 2013). This document does not constitute formal legal advice. Legal counsel must verify that the signatories possess the requisite authority under the company's delegation of financial powers (DoFP) before execution.

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CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME] AT THE MEETING HELD ON [DATE] AT [TIME] AT [REGISTERED OFFICE ADDRESS]

WHEREAS, the Board of Directors (the "Board") of [Company Full Legal Name] (the "Company") has determined it prudent to optimize the deployment of surplus liquid assets;

IT IS HEREBY RESOLVED AS FOLLOWS:

1. AUTHORIZATION FOR FIXED DEPOSIT

That the Company is hereby authorized to open, maintain, and operate one or more Fixed Deposit accounts (the "Deposit(s)") with AXIS BANK LIMITED (the "Bank") at its branch located at [Branch Address/City], for an aggregate principal amount not exceeding [Amount in USD/Currency] (the "Principal Amount").

2. AUTHORIZED SIGNATORIES

That the following individuals (the "Authorized Signatories") are hereby jointly and severally authorized, on behalf of the Company, to execute, sign, deliver, and amend all applications, deposit receipts, lien agreements, mandate forms, and such other documents as may be required by the Bank to give effect to this resolution:

1. [Name of Signatory 1], [Designation]
2. [Name of Signatory 2], [Designation]

3. OPERATIONAL MANDATE

That the Bank is authorized to honor all instructions, including, but not limited to, the premature withdrawal of funds, the creation of an overdraft or loan against the Deposit, and the closure of the Deposit, provided such instructions are signed by the Authorized Signatories in accordance with the mode of operation specified in the account opening documents.

4. POWER TO INDEMNIFY

That the Company shall indemnify and keep the Bank indemnified against all costs, losses, damages, or liabilities that the Bank may incur as a result of acting upon the instructions of the Authorized Signatories in accordance with this resolution.

5. SCOPE OF SERVICES & COMPLIANCE

That the Bank is entitled to rely on the signatures provided in the Specimen Signature Card submitted to the Bank. The Company confirms that the funds utilized for the Deposit are derived from legitimate business activities and are not in violation of any Anti-Money Laundering (AML) or Know Your Customer (KYC) statutes.

6. TERM & TERMINATION

This resolution shall remain in full force and effect until such time as a fresh resolution is passed by the Board revoking or modifying the authority granted herein, and a certified true copy thereof is delivered to the Bank.

7. SEVERABILITY

If any clause of this resolution is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.

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EXECUTION & SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________ Printed Name: [Name of Chairperson/Director] Title: [Title / Role] Company: [Company Legal Name] Date: [Date]

ATTESTED BY (COMPANY SECRETARY / DIRECTOR):

Signature: _____________________________________ Printed Name: [Name] Title: Company Secretary / Director Date: [Date]

(Company Seal / Rubber Stamp)

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STEP-BY-STEP EXECUTION & FILING GUIDE

1. Customization: Open this document in your word processor. Replace all bracketed text [ ] with precise legal data. Ensure the "Authorized Signatories" names match exactly what is filed on the bank’s KYC documentation.
2. Board Approval: This resolution must be presented at a formal Board meeting. Ensure the meeting is minuted in the Company’s Minute Book.
3. Certification: A "Certified True Copy" (CTC) must be signed by at least one Director or the Company Secretary to be considered valid by the Bank.
4. Digital Execution: If using DocuSign or Adobe Sign, ensure the "Company Seal" image is uploaded as a signature field if required by your internal bylaws.
5. Bank Submission: Submit a hard copy (with original ink or verified digital signature) to the Relationship Manager at Axis Bank. Request a stamped acknowledgement receipt.
6. Record Retention: Archive the executed resolution in the Corporate Compliance folder. It must be retained for at least 8 years post-maturity of the fixed deposit as per standard audit requirements.