4)Opening of Banking Account:“RESOLVED THAT authority be and is hereby given to the Company to open a Banking Current account in the name of the “___________________________” with__________________________________.(Name of the bank & its branch). RESOLVED FURTHER THAT Mr._____________ And/ Or Mr. __________________, Director, be and are hereby jointly authorized to sign the documents to open and operate the said account.
RESOLVED FURTHER THAT the said bank be and is hereby authorized to accept, honour and pass all cheques, hundies, bill of exchange, promissory notes, indemnities, guarantees, agreement for letter of credit, trust receipts for monies , received and any other commercial document whatsoever drawn made, accepted endorsed executed by both of the above authorized signatories and to act upon all instructions given by them relating to the said account, whether the same is overdrawn or not.
RESOLVED FURTHER THAT a certified copy of the aforesaid resolution be forwarded to the Bank for their action and record.”