Board Resolution for Opening of a Special Bank Account for distribution of Final/Interim Dividend and operations thereof

“RESOLVED THAT Mr./ Ms. [•] [Name and Designation of the authorized person], Mr./ Ms. [•] [Name and Designation of the authorized person] and Mr./ Ms. [•] [Name and Designation of the authorized person] of the Company, be and are hereby jointly/severally authorized to open a separate bank account with [•] [Name of Bank, Branch], and that the aforesaid account be called “[•] [Insert Name of the Company] Limited – <Interim(if applicable)> Dividend Account;

RESOLVED FURTHER THAT <any two of the above-mentioned persons/the aforesaid signatories> be and are hereby jointly/severally authorized to operate the said bank account and do all such things in relation to the said bank account as may be incidental or necessary to give effect to the distribution of <interim/final> dividend;

RESOLVED FURTHER THAT the bank be and is hereby authorized to pay, honor all cheques, bills of exchange, promissory notes and other instructions accepted or agreed for and on behalf of the Company, provided they are signed by the aforesaid signatories in the manner mentioned herein above and to act upon any instructions which are given in relation to the account of the Company.

Section 123 of Companies Act, 2013

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