Opening bank a/c for ad-hoc committee

Ajay Kochar (Querist) 13 March 2012 This query is : Resolved
Respected All,

We elected a ad-hoc committee for our newly constructed society of 168 members. Now We need to open an account with bank for depositing cheques of Maintenance. We already elected Chairman, Secretary and treasurer and we also done an agreement with builder for the same. Request to suggest for the same.

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Deepak Nair (Expert) 13 March 2012
What is the query? What you want to know??

Raj Kumar Makkad (Expert) 13 March 2012
Pass a resolution authorizing signing authorities and move application with the banker. The account shall be allowed to be opened.

Ajay Kochar (Querist) 13 March 2012
Sir,

One more question. In which name bank open the account? (in the name of Proposed Society or in the name of Chairman, Secretary, Treasurer) because if the account open in individual name, Its affect his annual return?

ajay sethi (Expert) 13 March 2012
account has to be in name of proposed society . mention the name of signatories .

Guest (Expert) 13 March 2012
Any committee does not have relevance with particular reference to a society. The relevance lies in the signatories who have been lawfully authorised to represent the society for banking transactions.

Ajay Kochar (Querist) 15 March 2012
Thank you very much sir

Guest (Expert) 15 March 2012
You are welcome, Ajay.

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