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Raj Kumar Singh (Sr Manager -Legal & Finance)     20 August 2014

Banking law

Dear Sir,

 I would like to know

1)How to open Current account of Joint ventures firm with Bank ?

2) what formalities to completed ?



Learning

 2 Replies

malipeddi jaggarao (retired banker)     22 August 2014

Joint venture firm is nothing but a partnership firm.

You require the following documents for opening current deposit account with bank.

1. Partnership agreement copy.

2. Partnership letter (printed one which will be given by the bank)

3. Application (which will be given by the bank)

4. specimen signature card (given by the bank.

5. two passport size photos of each partner.

6. address proof/identity proof of each partners

7. If the firm is registered with registrar of firm, certificate of such registration.  (Registration is not compulsory.

8. Address proof of the firm. 

9. rubber stamp - address seal

10. Rubber stamp - for XYZ.......Partner/Managing Partner

11. Initial cash deposit.

12. Introduction by another business firm having account with that bank. 

Arpit lalan (Legal Consultancy/Advocate)     26 August 2014

agree in toto with Malipeddi Jaggarao.

 


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