A Board Resolution For Demat Account Opening is a mandatory document required by Indian regulatory authorities when a company wants to open a dematerialized securities account. This resolution demonstrates proper corporate authorization and compliance with the Companies Act 2013 and SEBI regulations. It's typically needed when a company plans to invest in securities, hold shares in electronic form, or engage in stock market operations. The document must specify authorized representatives, their powers, operational mandates, and the chosen depository participant. It serves as evidence of proper corporate governance and is required by depositories (NSDL/CDSL) and banks for account opening.
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1. Title and Date: Specifies that this is a certified true copy of the resolution passed at the board meeting, including date, time, and venue of the meeting
2. List of Attendees: Names of directors present at the meeting and confirmation of quorum
3. Resolution Text: The main body stating the board's decision to open a demat account
4. Bank and Depository Details: Specification of the chosen depository participant and bank where the demat account will be opened
5. Authorized Representatives: Names and designations of persons authorized to operate the demat account and execute documents
6. Operating Instructions: Specifies whether joint or single operation, transaction limits, and other operational parameters
7. Documentation Authority: Authorization to execute all necessary documents for account opening
8. Certification: Signature of the Chairman/Company Secretary certifying the resolution as true copy
1. Specific Powers: Detailed list of specific powers granted to authorized representatives, used when company wants to place explicit limits or grant specific authorities
2. Corporate Information: Company registration details and address, used when required by specific depository participants
3. Compliance Statement: Statement confirming compliance with relevant regulations, used when specifically required by depositories
4. Multiple Account Authorization: Authorization for opening multiple demat accounts, used when company plans to open accounts with different depositories
1. List of Authorized Signatories: Detailed list of authorized persons with their specimen signatures and photographs
2. KYC Documents: List of required KYC documents being submitted with the resolution
3. Board Members' Details: List of current board members with their DIN numbers and designations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Corporate Services
Securities Trading
Investment Management
Manufacturing
Technology
Retail
Healthcare
Real Estate
Infrastructure
Any sector where companies need to hold securities
Relevant Teams
Legal
Finance
Compliance
Corporate Secretariat
Treasury
Investment
Corporate Governance
Board Secretariat
Relevant Roles
Company Secretary
Chief Financial Officer
Finance Director
Compliance Officer
Legal Counsel
Corporate Governance Officer
Board Director
Managing Director
Chief Executive Officer
Treasury Manager
Investment Manager
Company Director
Financial Controller
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