Board Resolution Format for Opening Bank Account in Icici

CERTIFIED EXTRACT OF BOARD RESOLUTION

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

STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a formal template intended to be adopted by a Board of Directors. Users must ensure that the resolution aligns with the Company’s Articles of Association and the applicable Companies Act of the relevant jurisdiction. Legal counsel should verify that the designated signatories possess the requisite authority under existing board mandates or powers of attorney prior to execution.

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 [REGISTERED OFFICE ADDRESS]

WHEREAS, the Board of Directors (the "Board") of [Company Full Legal Name] (the "Company") has determined that it is in the best interest of the Company to establish and maintain a corporate banking relationship with ICICI Bank Limited (the "Bank") to facilitate the Company’s financial operations.

NOW, THEREFORE, BE IT RESOLVED:

1. OPENING OF ACCOUNT: That the Company be and is hereby authorized to open one or more current, savings, or fixed deposit accounts in the name of the Company with ICICI Bank Limited (the "Bank") at its branch located at [Branch Address/City].

2. AUTHORIZED SIGNATORIES: That the following individuals (the "Authorized Signatories") are hereby jointly or severally authorized to sign, execute, and deliver all necessary documentation, including account opening forms, mandate letters, specimen signature cards, and agreements required by the Bank for the operation of the account:

3. SCOPE OF OPERATING AUTHORITY: That the Authorized Signatories are empowered to perform the following actions on behalf of the Company:

• To operate the account(s), deposit, withdraw, or transfer funds, and issue instructions for demand drafts, wire transfers, or electronic fund transfers (NEFT/RTGS/IMPS).
• To avail of internet banking, mobile banking, and corporate liquidity management services.
• To sign and endorse cheques, bills of exchange, and promissory notes drawn in favor of or by the Company.
• To request, accept, and utilize credit facilities, including overdrafts or letters of credit, subject to prior Board approval for specific limits.

4. REPRESENTATIONS & WARRANTIES: The Company warrants that all information provided to the Bank is accurate, and the Company shall comply with all KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements mandated by the Bank and the applicable Reserve Bank (or relevant monetary authority).

5. INDEMNIFICATION: The Company hereby agrees to indemnify and hold the Bank harmless from any claims, losses, or liabilities arising from the Bank acting upon the instructions of the Authorized Signatories, provided such actions were performed in good faith and in accordance with the mandate provided herein.

6. EFFECTIVENESS & TERMINATION: This resolution shall remain in full force and effect until such time as a fresh resolution is passed by the Board revoking or amending this authority, and a certified copy of such subsequent resolution is duly delivered to the Bank.

7. CERTIFICATION: That any Director or the Company Secretary of the Company be and is hereby authorized to furnish a certified true copy of this resolution to the Bank under the common seal of the Company or the signature of such Director/Secretary.

EXECUTION & FORMAL SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Name of Director/Chair]
Title: Director
Date: [Date]

(Affix Company Seal / Rubber Stamp here)

ATTESTED BY:

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

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Drafting: Replace all bracketed text [...] with specific corporate information. Ensure the Company Address matches the address listed on your Certificate of Incorporation.
2. Verification: Verify that the "Authorized Signatories" listed in Section 2 match the individuals currently authorized under your company's Articles of Association.
3. Digital Signature: If using electronic execution (DocuSign/Adobe Sign), ensure the "Common Seal" is represented by a digital image of the seal or an electronic stamp, and that the audit trail captures the IP address of the signatories.
4. Physical Filing: ICICI Bank typically requires a "Certified True Copy" on the company's letterhead. Print the final document on high-quality company stationery.
5. Bank Submission: Submit the signed original, along with the KYC documents of the signatories and the Company’s Certificate of Incorporation, to the designated Relationship Manager at the ICICI Bank branch.
6. Record Retention: Retain the original signed Board Resolution in the Corporate Minute Book. Ensure a scanned, high-resolution PDF copy is saved in the Company’s secure legal document repository.