Board Resolution Format for Trust Axis Bank

BOARD RESOLUTION: AUTHORIZATION FOR AXIS BANK ACCOUNT OPERATIONS

Document ID: RES-BANK-AXIS-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Jurisdiction, e.g., State of Maharashtra, India / Republic of India]

LEGAL COMPLIANCE NOTICE

This document is a formal template drafted for use by a corporate board of directors. DISCLAIMER: This template is provided for general informational purposes only and does not constitute formal legal advice. Laws governing corporate governance, banking regulations (including RBI guidelines), and signatory authority vary by jurisdiction. Users are strictly advised to have this document reviewed by qualified corporate counsel to ensure compliance with the entity’s Articles of Association, Memorandum of Association, and applicable local corporate statutes (e.g., The Companies Act, 2013).

CERTIFIED TRUE COPY OF THE RESOLUTION

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 LOCATED AT [PRINCIPAL ADDRESS].

WHEREAS, the Board of Directors (the “Board”) has determined that it is in the best interest of [Company Full Legal Name] (the “Company”) to open, operate, and maintain one or more banking accounts (the “Accounts”) with Axis Bank Limited (“the Bank”);

NOW, THEREFORE, BE IT RESOLVED:

1. AUTHORITY TO OPEN AND OPERATE ACCOUNTS

That the Company is hereby authorized to open one or more current, savings, or fixed deposit accounts with Axis Bank Limited at its branch located at [Branch Address/City].

2. AUTHORIZED SIGNATORIES

That the following individuals (the “Authorized Signatories”) be and are hereby authorized to sign, execute, and deliver all documents, agreements, and instructions necessary to operate the Accounts, including but not limited to, cheques, drafts, bills of exchange, electronic fund transfer mandates, and instructions for digital banking services:

• Name: [Signatory Name 1], Designation: [Title], Specimen Signature: ____________________
• Name: [Signatory Name 2], Designation: [Title], Specimen Signature: ____________________

3. SCOPE OF BANKING OPERATIONS

That the Authorized Signatories are empowered to: a) Make, draw, sign, endorse, and negotiate cheques, drafts, and orders for payment of money; b) Enter into agreements for net banking, mobile banking, and trade finance facilities (including Letter of Credit or Bank Guarantee) up to a limit of [Amount in USD] per transaction; c) Instruct the Bank to debit the Accounts for the purpose of operational expenses, investments, or service fees; d) Appoint or revoke the access of any person authorized to operate the online banking portal.

4. INDEMNITY

That the Company agrees to indemnify and hold harmless Axis Bank Limited against any claims, losses, or damages arising out of the Bank acting upon instructions provided by the Authorized Signatories, provided such instructions are in accordance with the mandates provided to the Bank.

5. RECORD MAINTENANCE

That the Company Secretary or any Director of the Company be and is hereby authorized to furnish a certified true copy of this Resolution to the Bank and to take all necessary actions to implement this Resolution.

EXECUTION & SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

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

(Company Seal/Stamp)

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation (Word/Google Docs):

   • Fill all bracketed fields ([...]). Ensure the [Company Full Legal Name] matches the name registered with the Ministry of Corporate Affairs or relevant jurisdictional registry.
   • Verify that the names of the Authorized Signatories match the government-issued IDs provided to the Bank.

2. Verification of Authority:

   • Ensure the Resolution is proposed and seconded by members of the Board in accordance with your internal Bylaws.
   • Ensure the number of signatories (e.g., "jointly" vs "severally") matches your internal financial control policies (Internal Audit/SOX compliance).

3. Execution:

   • Physical: Print on Company Letterhead. Ensure the Chairperson or Company Secretary signs the document. Affix the Company’s Common Seal if required by your Articles of Association.
   • Digital: If using DocuSign or Adobe Sign, ensure the platform meets e-signature laws (e.g., ESIGN Act, eIDAS). Attach a copy of the Board Meeting Minutes authorizing this resolution as an exhibit to the digital packet.

4. Filing & Record Retention:

   • Bank Submission: Deliver the original Certified True Copy to the Relationship Manager at Axis Bank. Request an acknowledgement receipt.
   • Internal Records: File the original in the "Corporate Minute Book." Maintain a scanned PDF in the company’s secure cloud repository under "Governance > Banking."
   • Expiration: This resolution remains in effect until a subsequent Board Resolution is passed to amend or revoke it.