Board Resolution – Dividend Account Closure
Resolution to close a dividend / unpaid-dividend bank account.
What this format contains
CERTIFIED TRUE COPY OF RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF [COMPANY NAME] AT ITS MEETING HELD ON MONDAY, [DATE] AT THE REGISTERED OFFICE [ADDRESS], [PLACE] – [PIN] AT [TIME]
TO CONSIDER AND APPROVE CLOSURE OF INTERIM DIVIDEND ACCOUNT OPENED IN THE FY [FY] WITH [BANK NAME], [BRANCH NAME] BRANCH:
The Chairman informed the Board of Directors of the Company that the Interim Dividend Account maintained with [BANK NAME], [BRANCH NAME] Branch bearing Account No. [PHONE] need to be closed as the above mentioned account cannot be used and operated. Hence, it is advised to close the account with immediate effect.
The Board unanimously resolved as follows:
“RESOLVED THAT the Interim Dividend Account, maintained with [BANK NAME], [BRANCH NAME] Branch bearing Account No. [PHONE] required to be closed with immediate effect.
RESOLVED FURTHER THAT Mr. [DIRECTOR 2 NAME], Director and Mr. [DIRECTOR NAME] Wholetime Director of the Company be and are hereby authorized severally to submit necessary application and to do all such act(s) that may be necessary to close the account.
RESOLVED FURTHER THAT a copy of this resolution be forwarded to the [BANK NAME], [BRANCH NAME] Branch for their records and necessary action.”
FOR [COMPANY NAME]
____________________
[NAME]
WHOLETIME DIRECTOR
DIN: [●]