Board Resolution Format for Kyc Updation Axis Bank

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME]

Document Control Reference: BR-AXIS-KYC-[YEAR]-[SEQUENCE]
Effective Date: [Date of Board Meeting, e.g., October 24, 2023]
Version: 1.0 (Institutional Standard)
Governing Statutory Framework: Section 179 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014, and Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016
Target Financial Institution: Axis Bank Limited, Corporate Banking Branch: [Branch Name / Address, e.g., Nariman Point Branch, Mumbai - 400021]

---

STATUTORY & LEGAL COMPLIANCE NOTICE

This certified extract reflects a formal corporate resolution adopted under the provisions of the Companies Act, 2013 (India) and the Master Direction – Know Your Customer (KYC) Direction, 2016 issued by the Reserve Bank of India (RBI). It constitutes an irrevocable, legally binding record of delegated corporate power. While this template meets institutional banking criteria for Axis Bank Limited, corporate counsel must adapt the internal authorities, operational matrices, and signatory parameters to match the Company’s Articles of Association and internal delegation policies. Execution must strictly follow the procedural safeguards set forth in Section 5 and Section 6.

---

PARTIES, MEETING DETAILS & RECITALS

MEETING DETAILS:
The Board of Directors of [COMPANY FULL LEGAL NAME], a company incorporated under the laws of India, bearing Corporate Identification Number (CIN) [Corporate Identification Number, e.g., U72900MH2015PTC123456], and having its Registered Office situated at:
[Registered Office Full Street Address, City, State, Postal Code, Country]
(hereinafter referred to as the "Company"),

Held a duly convened meeting of its Board of Directors on [Day of the Week], [Day] day of [Month], [Year], commencing at [Time, e.g., 10:00 AM IST] and concluded at [Time, e.g., 11:30 AM IST], at [Meeting Location Address / Via Video Conferencing adhering to Rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014], wherein a valid quorum was present and voting throughout.

RECITALS:

1. EXISTING BANKING RELATIONSHIP: The Company maintains corporate banking facilities, encompassing Current Account(s), Cash Credit Account(s), Overdraft Facilities, and/or Treasury Desk facilities bearing Account Number(s) [List Account Number(s), e.g., 921020012345678, 921020087654321] (collectively, the "Accounts") with Axis Bank Limited, a banking company incorporated under the Companies Act, 1956, and licensed under the Banking Regulation Act, 1949, having its Registered Office at 'Trishul', 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380006, Gujarat, and operating through its branch located at [Branch Street Address, City, Pin Code] (hereinafter referred to as the "Bank").

2. STATUTORY & REGULATORY KYC MANDATE: The Reserve Bank of India (RBI), under the Master Direction – Know Your Customer (KYC) Direction, 2016 (as amended from time to time) and the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, mandates periodic review, updating, re-verification, and submission of fresh Officially Valid Documents (OVDs), legal entity documentation, and Beneficial Ownership declarations for corporate accounts.

3. CORPORATE NECESSITY: To ensure continuity of operations, unhindered transactional throughput, regulatory adherence, and lawful clearing/settlement protocols through the Accounts, the Board of Directors deems it imperative to update the KYC records, Beneficial Ownership matrices, and operational signatory mandates on file with the Bank.

4. DELEGATION OF AUTHORITY: The Board wishes to appoint, authorize, and empower specific corporate officers and directors to execute, seal, authenticate, and furnish all required forms, declarations, identity proofs, address verifications, and digital/physical documentation demanded by the Bank.

---

OPERATIVE RESOLUTIONS & LEGAL TERMS

The Board, upon thorough evaluation, unanimously resolved the following corporate actions:

1. RE-VERIFICATION AND UPDATION OF KYC PROFILE

"RESOLVED THAT the Company do undertake and complete the comprehensive periodic updation / re-verification of its Know Your Customer (KYC) documentation for all existing accounts, credit limits, treasury connections, and trade finance lines maintained with Axis Bank Limited (the 'Bank'), including but not limited to Account Number(s): [Insert Account Number(s), e.g., 921020012345678], in strict accordance with the Master Directions on KYC issued by the Reserve Bank of India and internal compliance protocols of the Bank.

RESOLVED FURTHER THAT the revised details of the Registered Office Address, Principal Place of Business, Tax Identifiers (Permanent Account Number - PAN, Goods and Services Tax Identification Number - GSTIN), and Corporate Identification Number (CIN) as certified under this resolution be placed on record with the Bank."

2. APPOINTMENT AND DELEGATION TO AUTHORIZED SIGNATORIES

"RESOLVED FURTHER THAT the following Directors, Key Managerial Personnel, and/or authorized officers of the Company (hereinafter collectively referred to as the 'Authorized Signatories' and individually as the 'Authorized Signatory') be and are hereby jointly and/or severally authorized to execute, certify, submit, deliver, and verify all papers, forms, deeds, affidavits, undertakings, and instruments necessary for updating the corporate KYC records:

3. SCOPE OF SERVICES, EXECUTION AUTHORITY & BANKING INTERFACE

"RESOLVED FURTHER THAT the Authorized Signatories be and are hereby authorized, within the execution thresholds set forth herein:

a) Documentation & Affidavits: To sign, execute, and deliver Axis Bank's standard corporate KYC updation forms, customer information forms (CIF),FATCA/CRS declarations, Board Resolution extracts, Beneficial Ownership declarations conforming to Rule 9 of the PMLA Rules, and associated undertakings.
b) Identity & Document Certification: To physically or digitally verify, self-attest, certify as true copies, and deliver copies of the Company’s Certificate of Incorporation, Memorandum and Articles of Association, Audited Financial Statements, Income Tax Returns, Utility Bills, lease agreements, and all Officially Valid Documents (OVDs) of directors, beneficial owners, and key management.
c) Net Banking and Cash Management Operations: To apply for, re-validate, alter, or re-confirm corporate internet banking (Axis Corporate Net Banking - 'Corporate Omni' / 'CMS'), mobile banking credentials, operational limit matrices, system administrator delegations, and digital signature/token configurations tied to the Accounts.
d) Operational Mandate Limits: That the signing mandate for operational transactions, instructions, instruments, and corporate authorisations resulting from or updated via this KYC process shall execute as follows:

• Up to [Amount in INR, e.g., INR 10,00,000 (Indian Rupees Ten Lakhs)]: Any ONE of the Authorized Signatories acting singly.
• Exceeding [Amount in INR, e.g., INR 10,00,000 (Indian Rupees Ten Lakhs)]: Any TWO of the Authorized Signatories acting jointly."

4. DISCLOSURE OF BENEFICIAL OWNERSHIP

"RESOLVED FURTHER THAT the Board takes on record that, as per the provisions of the RBI Master Directions and the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (as amended), the natural persons exercising ultimate ownership, effective control, or entitlement to more than [Threshold, e.g., 10%] of the shares or capital or profits of the Company, or exercising control through contractual or governance arrangements, are identified in the attached Annexure 'A'; and that the Authorized Signatories be and are hereby directed to disclose and formally submit these verified details to the Bank."

5. RATIFICATION OF PAST ACTS

"RESOLVED FURTHER THAT any and all lawful acts, deeds, matters, applications, letters of authorization, submissions, and steps taken, signed, or executed by any of the Directors or Authorized Signatories of the Company prior to the date of this meeting in connection with the updating of KYC documentation, submission of entity profiles, or maintenance of the Accounts with the Bank, be and are hereby formally approved, confirmed, and ratified as the binding acts of the Company."

6. BANK RELIANCE AND NOTICE PROVISION

"RESOLVED FURTHER THAT this Resolution shall remain in full force and effect until express written notice of its revocation, modification, or supersession is formally communicated to, and acknowledged in writing by, the Bank; and that Axis Bank Limited shall be indemnified, defended, and held harmless by the Company against any claims, losses, damages, liabilities, costs, or expenses (including reasonable legal fees) arising from the Bank's reliance on this Resolution or any instructions given by the Authorized Signatories prior to the actual receipt of such written notice of modification by the relevant Branch Manager."

7. CERTIFICATION AND COMMUNICATION TO THE BANK

"RESOLVED FURTHER THAT any Director of the Company or the Company Secretary be and is hereby authorized to furnish a certified true copy of this Resolution along with the specimen signatures of the Authorized Signatories to Axis Bank Limited, and that the Bank be instructed to update its electronic and physical records accordingly."

---

SPECIMEN SIGNATURES OF AUTHORIZED SIGNATORIES

The specimen signatures of the Authorized Signatories named in Section 2, attested by the Chairman/Company Secretary, are as follows:

---

CERTIFICATION & EXECUTION

CERTIFIED TO BE A TRUE AND CORRECT EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME] DULY CONVENED AND HELD ON [MEETING DATE].

FOR AND ON BEHALF OF [COMPANY FULL LEGAL NAME]:

<br>

FOR [COMPANY FULL LEGAL NAME]:
Signature: _____________________________________
Printed Name: [Name of Certifying Director / Managing Director]
Title: Director / Managing Director
Director Identification Number (DIN): [Director DIN, e.g., 01234567]
Company: [Company Full Legal Name]
Date: [Execution Date, e.g., October 24, 2023]
Place: [City/Location of Signing]

<br>

FOR [COMPANY FULL LEGAL NAME]:
Signature: _____________________________________
Printed Name: [Name of Certifying Director / Company Secretary]
Title: Company Secretary / Director
Membership Number / DIN: [ICSI Membership No. / DIN, e.g., ACS-12345 / 07654321]
Company: [Company Full Legal Name]
Date: [Execution Date, e.g., October 24, 2023]
Place: [City/Location of Signing]

(Affix Corporate Common Seal here, if mandated by the Articles of Association of the Company)

---

STEP-BY-STEP EXECUTION, VERIFICATION & BANK SUBMISSION GUIDE

To guarantee institutional acceptance by Axis Bank Limited's Corporate Banking and Centralized Operations Units without legal rejection or compliance deficiency flags, follow these steps:

Step 1: Corporate Customization & Letterhead Printing

• Open the document in Microsoft Word or Google Docs. Replace every single bracketed variable ([ ... ]) with the Company's verified data:
  • Match the registered office address and CIN exactly against the records of the Ministry of Corporate Affairs (MCA-21 portal).
  • Explicitly identify every Axis Bank Account Number subject to KYC re-verification.
• Print this resolution document directly onto the Official Letterhead of the Company. If the resolution spans multiple pages, print double-sided or preserve running headers with page numbers (Page X of Y).

Step 2: Specimen Signature Execution and Attestation

• Direct the Authorized Signatories listed in Section 2 to affix their wet ink signatures directly within the dedicated rows under the Specimen Signatures section.
• Signatures must match the signatures on their respective Officially Valid Documents (PAN Card, Passport, or Aadhaar). Use permanent blue or black ink.

Step 3: Board Certification Sign-Off

• In compliance with Indian Corporate Law conventions:
  • If the Company has a Company Secretary (mandatory under Section 203 of the Companies Act, 2013 for applicable thresholds), the certified true copy should ideally be signed by the Company Secretary and countersigned by one Director (preferably the Chairman or Managing Director).
  • Alternatively, execute the document under the wet signatures of two Directors.
• Verify that the signing parties include their DIN (Director Identification Number) or ICSI Membership Number.
• If the Company’s Articles of Association mandate the use of the Common Seal, affix the Corporate Common Seal in the presence of the signatories as authorized by the Articles.

Step 4: Digital Execution (DocuSign, Adobe Sign, or Class 3 DSC)

• Class 3 DSC (Recommended for India): If delivering via Axis Bank's designated digital enterprise onboarding portal, sign the exported PDF using the certified Class 3 Digital Signature Certificate (DSC) of the Director/Company Secretary registered on the MCA-21 portal.
• DocuSign / Adobe Sign: Where permitted by the Axis Bank Relationship Manager (RM), secure a fully compliant Certificate of Completion showing IP tracking, email audit trails, and SHA-256 hash validation. Note: Most Indian public sector and commercial banks (including Axis Bank) require physically certified wet-ink hard copies or MCA-registered Class 3 DSC tokens for changes to account operations and KYC. Confirm with your branch RM prior to digital-only dispatch.

Step 5: Required Ancillary KYC Enclosures for Axis Bank

Assemble the final submission dossier with the following supporting documents, each marked "Certified True Copy", stamped with the Company's round stamp, and signed by an Authorized Signatory:

1. Updated Certificate of Incorporation (and fresh Certificate of Incorporation if name changed).
2. Latest Memorandum and Articles of Association (amended to date).
3. Company PAN Card.
4. Active GST Registration Certificate.
5. Proof of Registered Office Address (e.g., Lease Deed / Rent Agreement not older than 3 months, alongside latest utility bill: Electricity/Telephone).
6. RBI Beneficial Ownership Declaration Form along with self-attested identity and address proofs of natural persons holding 10% or more interest.
7. Self-attested PAN and Officially Valid Document (OVD: Passport, Voter Card, Driving License, or masked Aadhaar via offline XML/masked copy) for all Authorized Signatories and all Directors.
8. Most recent Audited Balance Sheet and Profit & Loss Account (along with Form 3CA/3CD or Income Tax Return Acknowledgement).

Step 6: Bank Lodgment and Master Record Maintenance

• Deliver the original physical certified resolution pack to the Axis Bank Corporate Banking Branch / Dedicated Relationship Manager.
• Ensure the Bank issues an Acknowledgement Copy (bearing the Bank branch's physical receiving stamp, officer signature, Employee ID, and date).
• Corporate Secretarial Record Retention: In accordance with Section 118 of the Companies Act, 2013, file the original Signed Board Minutes in the Company's Statutory Minute Book within thirty (30) days of the conclusion of the Board Meeting. Retain the Bank Acknowledgement letter alongside the Minutes permanently at the Registered Office.