Board Resolution Change in Bank Account Authorised Signatory

The Board of Directors in its meeting can pass a resolution in order to change the authorised signatory for operating the bank account of the company including the limits of such authorisation.

A covering letter to the bank manager has to be written for change in authorised signatory along with enclosing therewith a certified true copy of the resolution and other important documents as required by the bank viz. KYC forms duly filled in and signed, identity & address proofs of the signatories, specimen signatures, etc.

Following is a template of board resolution for change in authorised signatory of bank account.

SAMPLE

(modify it as per your requirement)

#. To change the Authorised Signatories of company's bank account

“RESOLVED THAT in supersession of all previous resolutions passed by the Board of Directors in its meeting in respect of the current account bearing no. ....................... of company maintained with the (name) branch of the (bank name), the limits of the authority of the authorised signatories to sign cheques on behalf of the company be and is hereby revised as under:

Sr. No.	Name of Signatory, Designation	Authority Type	Limit Amount
1.	Ms. X (Managing Director)	Singly	Up to Rs. ............
2.	Ms. X (Managing Director) and Mr. Y (GM-Finance)	Jointly	Up to Rs. ............
3.	Mr. Y (GM-Finance)	Singly	Up to Rs. ............
4.	Mr. Y (GM-Finance) and Ms. Z (GM-Operations)	Jointly	Up to Rs. ............
5.	Ms. Z (GM-Operations) and Mr. D (Company Secretary)	Jointly	Up to Rs. ............

RESOLVED FURTHER THAT the Bank be and is hereby informed and is hereby authorised to honour all Cheques, Bills of Exchange, Promissory Notes, Hundis and any other instruments for payments drawn, accepted, made and signed on behalf of the company.

RESOLVED FURTHER THAT any two Directors of the company be and is hereby authorised to certify a true copy of the foregoing resolution and any other documents as may be necessary in this connection and the same be forwarded to the bank.”