Board Resolution Format for Kyc Updation Pnb Bank

CERTIFIED EXTRACT FROM THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS

Document ID: CORP-RES-PNB-KYC-2024-001
Effective Date: [Insert Date]
Version: 1.0
Governing Jurisdiction: [Insert Country/State, e.g., Republic of India]

LEGAL COMPLIANCE NOTICE

This document is a formal template drafted for institutional use. It is intended to satisfy the Know Your Customer (KYC) compliance requirements of Punjab National Bank (PNB). Users are strictly advised that this template must be reviewed by local legal counsel to ensure compliance with the specific Articles of Association of the Company and the applicable banking regulations of the jurisdiction in which the account is held. Execution of this document constitutes a legally binding act of the Board of Directors.

1. RECITALS

WHEREAS, [Company Full Legal Name], a company incorporated under the laws of [Jurisdiction], having its registered office at [Principal Address] (hereinafter referred to as the "Company"), maintains banking facilities with Punjab National Bank (hereinafter the "Bank").

WHEREAS, the Bank requires periodic updating of KYC documentation to maintain compliance with anti-money laundering (AML) and banking regulatory standards;

WHEREAS, the Board of Directors deems it necessary and in the best interest of the Company to authorize designated officials to update, attest, and submit the required documentation to the Bank.

2. OPERATIVE RESOLUTIONS

RESOLVED THAT, the Company do hereby acknowledge the requirement to update its KYC records with Punjab National Bank and authorizes the submission of all necessary documentation, including but not limited to, updated Certificate of Incorporation, Memorandum and Articles of Association, list of directors, shareholding patterns, and proof of address.

FURTHER RESOLVED THAT, [Name of Authorized Signatory 1] and [Name of Authorized Signatory 2] (collectively the "Authorized Signatories"), be and are hereby jointly and severally authorized to:

1. Sign, execute, and deliver all applications, forms, declarations, and affidavits required by the Bank for the purpose of KYC updation.
2. Provide certified true copies of the Board Resolution and other corporate documents as mandated by the Bank.
3. Represent the Company before any officials of the Bank to clarify, verify, or attest to the veracity of the information provided.
4. Affix the Common Seal of the Company (if required) on any documents related to the aforementioned KYC exercise.

FURTHER RESOLVED THAT, the Bank be requested to accept the signatures of the Authorized Signatories as conclusive evidence of the Company’s intent and that the Bank shall be fully indemnified by the Company for any actions taken in reliance upon such documentation.

FURTHER RESOLVED THAT, this resolution shall remain in full force and effect until such time as a fresh resolution is passed by the Board of Directors and a certified copy thereof is filed with the Bank.

3. CERTIFICATION

I, [Name of Company Secretary/Director], being a [Title] of [Company Full Legal Name], do hereby certify that the foregoing is a true and correct copy of the resolution passed at the meeting of the Board of Directors held on [Date] at [Time], at [Venue], and that said resolution has been entered in the minutes book of the Company and is in accordance with the Company’s Articles of Association.

4. EXECUTION & SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

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

ATTESTED BY (Company Secretary / Authorized Director):

Signature: _____________________________________
Printed Name: [Authorized Signatory Name]
Title: [Title / Role]
Date: [Date]

(Seal of the Company)

5. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Customization: Replace all bracketed text [ ] with the actual details. Do not leave any placeholders blank.
2. Authority Verification: Ensure the individuals designated as "Authorized Signatories" possess the requisite authority under the Company's Articles of Association.
3. Execution Protocol:
   • Physical: Print on Company Letterhead. Ensure the Chairperson signs. Apply the Company’s Common Seal (as per your Bylaws).
   • Digital: If using DocuSign/Adobe Sign, ensure you have enabled "Audit Trail" and "Certificate of Completion" features. Ensure the platform is compliant with local e-signature laws (e.g., eIDAS, UETA, or local IT Acts).
4. Bank Submission:
   • Submit a scanned copy or the original hard copy to the specific PNB branch where your account is maintained.
   • Request an acknowledgment receipt or a stamped "Received" copy for your internal audit records.
5. Record Retention: Archive the executed resolution in the Company’s Minute Book. Retain a digital copy in your institutional document management system for a minimum of seven (7) years or as required by local tax/regulatory law.