Board Resolution Format for Internet Banking Axis Bank

CERTIFIED TRUE COPY: BOARD RESOLUTION FOR CORPORATE INTERNET BANKING

Document ID: CORP-AXIS-BR-2024-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Insert State/Country, e.g., Maharashtra, India]

1. STATUTORY & LEGAL COMPLIANCE NOTICE

This document is drafted as a formal corporate resolution template. It is intended to satisfy the internal governance requirements of [Company Full Legal Name] (the "Company") and the external compliance requirements of Axis Bank Limited (“Bank”). This instrument constitutes a binding corporate action. Legal counsel should verify that the signatory authority granted herein is consistent with the Company’s Articles of Association and the Companies Act (or equivalent local governing statute).

2. CERTIFIED EXTRACT OF THE MINUTES

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

"RESOLVED THAT the consent of the Board of Directors of [Company Full Legal Name] (the “Company”) be and is hereby accorded to avail of the Corporate Internet Banking facilities (“Services”) provided by Axis Bank Limited (the “Bank”), including, but not limited to, RTGS, NEFT, IMPS, bulk payments, tax payments, and any other electronic banking services as may be offered by the Bank from time to time, under the terms and conditions prescribed by the Bank in the Corporate Internet Banking Application Form.

RESOLVED FURTHER THAT the following persons (the “Authorized Signatories”) be and are hereby severally/jointly authorized to sign, execute, and deliver all applications, agreements, mandates, and other documents required by the Bank for the purpose of availing the Services:

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

RESOLVED FURTHER THAT the Authorized Signatories are empowered to define access levels, transaction limits, and user roles (maker, checker, authorizer) for the Company’s internet banking account, and to appoint or remove users as they deem fit in the best interest of the Company.

RESOLVED FURTHER THAT the Bank be and is hereby authorized to accept, act upon, and rely on any instructions, whether verbal, written, or electronic, provided by the Authorized Signatories via the Internet Banking platform, and the Company hereby agrees to be bound by all transactions processed through said platform.

RESOLVED FURTHER THAT this resolution shall remain in full force and effect until such time as a fresh resolution is passed by the Board and a certified copy is formally communicated to the Bank."

3. REPRESENTATIONS & WARRANTIES

The Company warrants that:

1. It is a legally constituted entity, validly existing under the laws of [Jurisdiction].
2. The Board of Directors has the requisite power and authority to pass this resolution.
3. The specimen signatures provided in the Bank’s formal documentation are the genuine signatures of the individuals designated above.
4. The Company shall indemnify the Bank against any losses arising from the authorized use of the digital credentials (User IDs, Passwords, OTPs, Tokens) by the designated users.

4. GOVERNING LAW & DISPUTE RESOLUTION

This resolution and the resulting relationship with Axis Bank shall be governed by the laws of [Jurisdiction]. Any disputes arising out of the Corporate Internet Banking services shall be subject to the exclusive jurisdiction of the courts located at [City/State].

5. EXECUTION & SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Certified as a true and correct copy by:

Signature: _____________________________________
Printed Name: [Name of Director/Company Secretary]
Title: [Director / Company Secretary]
Date: [Date]
(Affix Company Seal/Stamp here)

6. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Customization: Replace all bracketed fields (e.g., [Company Full Legal Name]) with the exact information appearing on your Certificate of Incorporation and Axis Bank’s specific application forms.
2. Board Approval: Ensure this resolution is formally adopted at a meeting of the Board of Directors and recorded in the Minutes Book of the Company.
3. Verification: The Company Secretary or a Director must verify that the Authorized Signatories listed in Section 2 match the individuals authorized to operate the company’s bank accounts as per the Board’s previous mandates.
4. Execution:
   • Print the document on the Company’s official letterhead.
   • Obtain the physical signature of the Director/Secretary.
   • Affix the Company’s common seal or official rubber stamp adjacent to the signature.
5. Submission: Submit the original signed/sealed hard copy to the authorized Axis Bank branch relationship manager.
6. Record Retention: Maintain a scanned PDF copy in the Company’s digital legal repository and a physical copy in the permanent Board Minutes Book for at least seven (7) years or as required by local tax authorities.
7. Digital Signature: If using a digital signing service (e.g., DocuSign), ensure the platform satisfies the e-signature requirements under the local Information Technology Act.