Board Resolution Format for Partnership Firm Axis Bank

BOARD RESOLUTION FOR PARTNERSHIP FIRM (AXIS BANKING MANDATE)

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

LEGAL COMPLIANCE NOTICE

This document constitutes a formal corporate resolution template. It is designed to meet standard institutional banking requirements for Axis Bank. Users must ensure that the signatories possess the requisite legal capacity as defined in the Partnership Deed and applicable local statutes (e.g., The Indian Partnership Act, 1932). Failure to verify authority against the firm’s constitutive documents may render this resolution voidable.

RESOLUTION OF THE PARTNERS OF [FIRM FULL LEGAL NAME]

Principal Place of Business: [Insert Full Address]

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE PARTNERS OF [FIRM FULL LEGAL NAME] HELD ON [DATE] AT [TIME] AT [LOCATION/VIRTUAL PLATFORM].

WHEREAS, the Partners of [FIRM FULL LEGAL NAME] (the "Firm") have determined it is in the best interest of the Firm to establish, maintain, and operate banking accounts with Axis Bank Limited (the "Bank").

NOW, THEREFORE, BE IT RESOLVED:

1. Authorization to Open Account: That a Current/Savings/Cash Credit account be opened and maintained with Axis Bank Limited in the name of the Firm.
2. Authorized Signatories: That the following Partners, whose signatures appear below, are hereby authorized to sign, execute, and deliver all applications, account opening forms, mandate forms, and other documents required by the Bank:
   • [Name of Partner 1], [Designation/Title]
   • [Name of Partner 2], [Designation/Title]
3. Operational Mandate: That the Bank be instructed to honor all cheques, bills of exchange, and promissory notes drawn, accepted, or made on behalf of the Firm, and to act on any instructions regarding the accounts, provided they are signed in accordance with the following mode of operation: [e.g., Jointly by all Partners / Singly by Managing Partner].
4. Electronic/Digital Banking: That the Firm is authorized to avail of NetBanking, Mobile Banking, and UPI services, and the authorized signatories are empowered to accept the Terms and Conditions prescribed by the Bank for such electronic services.
5. Credit Facilities: That the Partners are authorized to negotiate and obtain credit facilities, overdrafts, or loans from the Bank up to an aggregate limit of [Amount in USD/Local Currency], and to pledge, hypothecate, or mortgage the Firm’s assets as security for such facilities.
6. Execution of Documents: That the Partners be authorized to affix the Rubber Stamp/Seal of the Firm (if applicable) on all documents executed in favor of the Bank.
7. Ratification: That any and all acts done by the authorized signatories prior to the date of this Resolution in connection with the aforementioned banking arrangements are hereby ratified, confirmed, and approved.

EXECUTION & SIGNATURE BLOCKS

FOR [FIRM FULL LEGAL NAME]:

The undersigned, being all the partners of the Firm, hereby certify the above resolution is true and in full force as of the date first written above.

Signature: _____________________________________ Printed Name: [Partner Name 1] Title: Partner Date: [Date]

Signature: _____________________________________ Printed Name: [Partner Name 2] Title: Partner Date: [Date]

(Add additional signature lines as required by the number of partners)

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Constitutive Verification: Before execution, verify that the "Mode of Operation" specified in this Resolution aligns precisely with the powers granted to partners in the registered Partnership Deed.
2. Document Customization:
   • Open in Microsoft Word.
   • Use the "Find & Replace" function (Ctrl+H) to update all bracketed [ ] fields with the exact legal information.
   • Ensure the "Authorized Signatories" listed in Section 2 match the KYC documents (PAN card, Aadhaar, Passport) submitted to Axis Bank.
3. Verification of Authority: If the firm has a Board of Partners, ensure that the meeting was convened with the required quorum as per the Partnership Deed.
4. Digital Execution:
   • Upload the finalized document to a platform like DocuSign or Adobe Sign.
   • Ensure all partners sign using their legally recognized digital signature.
   • If opting for physical execution, print on the Firm’s letterhead, affix the official Firm Stamp/Seal, and have it witnessed if required by the Bank’s local branch manager.
5. Filing & Retention:
   • Provide one original certified copy to the Axis Bank Relationship Manager.
   • Maintain a digital PDF copy in the Firm’s "Corporate Secretarial" folder.
   • Retain the original physical copy in the Firm's "Minute Book" for a minimum of 7 years or as required by local tax authorities.