• Direct Tax
  • Indirect Tax
  • Corporate Law
  • Services
  • Consultation
  • Templates
  • Courses
  • Plans

Categories

Direct Tax
Indirect Tax
Corporate Law

Quick links

  • Services
  • Consultation
  • Templates
  • Courses
  • Plans

For any queries, concerns or feedback, please connect with us at:

contact@counselvise.com
+91 97234 00220
Direct Tax
  • Judges
  • Assessee
  • Blogs
  • Judgements
Indirect Tax
  • Judges
  • Assessee
  • Blogs
  • Judgements
Corporate Law
  • Judges
  • Assessee
  • Blogs
  • Judgements
Other Links
  • Services
  • Consultation
  • Templates
  • Terms and conditions
  • Contact us
  • Support
  • About Us
  • Privacy Policy
  • Refund Policy
  • Delivery Policy
Subscribe to our newsletter


Crafted Mindfully at
© 2025 COUNSELVISE
Direct Tax
GST
Corporate Law
Entity Formation
Startup Fundraising
Finance and Accounting
Human Resources
Sales and Marketing
Certificate
Other Legal Agreements
Miscellaneous
Other Civil Laws
testing from LW
  1. templates
  2. /
  3. corporate law
  4. /
  5. company law
  6. /
  7. board resolution name change in bank account of the company

Board Resolution - Name change in Bank Account of the Company

Counselvise
Published on 18/12/2024
₹ 50/-
PAID
1169 views
|
1 downloads

Board Resolution - Name change in Bank Account of the Company

Counselvise
Corporate Law / Company Law

Template Description

This board resolution template is designed for companies that need to authorize the change of the company's name in their bank account(s) and to avail general banking facilities under the new name. It is a 2-page MS Word document. This resolution is essential for companies undergoing a name change and seeking to update their bank records accordingly. It is intended for use by companies, corporate professionals, and other relevant stakeholders.

 

Understanding the Board Resolution for Changing the Company Name in Bank Account

 

Terminologies


  • ‘Board Resolution’: An official document that formalizes the decisions made by the board members during a company board meeting as per the Companies Act, 2013.
  • ‘Name Change’: The legal process by which a company changes its registered name, necessitating updates to all official records, including bank accounts.

 

Procedure for changing the Company name in Bank Account


1) Board Meeting

  • Convene a meeting of the Board of Directors to discuss the need for changing the company’s name in bank accounts and availing general banking facilities.
  • Pass a resolution authorizing the name change in the specified bank accounts and instructing the bank to accept all cheques, promissory notes, and other instruments in the company's new name.

 

2) Bank Instructions

  • Instruct the bank to update the account title with the company’s new name and to honor all financial transactions under the new name.
  •  Authorize the bank to handle all transactions without inquiring into the circumstances of their issuance.

 

3) Ongoing Authority

  • The resolution grants ongoing authority to the bank to act on the company’s instructions until a certified true copy of a new resolution is provided, revoking the previous authority.

 

4) Certified True Copy

  • A certified true copy of the resolution should be furnished to the bank, ensuring the instructions are acted upon.

 

Conclusion

This board resolution is a critical document for companies undergoing a name change, ensuring that all banking operations continue smoothly and without disruption. It also provides the bank with clear instructions and ongoing authority, reducing the risk of any administrative errors or delays. This resolution not only ensures compliance with legal requirements but also protects the company’s financial interests during the transition period.