JUNE 2015

Minutes of Meeting
of Interim Steering Committe
W-82, GK-I (Hemant)
18 June 2015

Agenda : Completion of formalities for MOA
Attendees : Hemat Relan, Satvir Rana, Sameer Jain, Deepika Gupta, Prabhjot Singh, Praphul Misra, Avni Chugh, Nirupma Kapur

In the absence of any numbering the email from the Bank is a tad confusing. For the sake of clarity, I’d like to format the mail from the Bank as follows. Please correct anything that I have misunderstood.

Following are the 12 docs required for society account opening-:

  1. KYC for ID Proof:
    a. Acceptable KYC document For Identity Proof (needs to be listed)
  2. Certified copy of certificate of registration of the society signed by the Secretary /Chairperson / President / Member of the Managing Committee.
  3. Certified copy of Rules and By-Laws of the institution signed by the Secretary /Chairperson / President / Member of the Managing Committee.
  4. PAN card in the name of the Society / Club / Association
  5. In case, PAN is not available at the time of account opening, the account can be opened with Form 60 along with acknowledgement copy of Form 49A and a declaration from the customer. This is applicable for society incorporated less than 90 days prior to
    account opening.
  6. Certified copy of the resolution to open the account* signed by the chairperson/secretary/ president/ 2 authorised signatories, provided it is not self authorising.
  7. Society’s memorandum of association and rules and regulations .
  8. KYC for Address Proof
  9. Acceptable KYC document For Address Proof
  10. Registration certificate (if address mentioned)
  11. Identity and Signature proof of all the authorized signatories to the account as applicable to Resident Individual KYC is required.
  12. List of name and address of the members of the managing committee/ governing body signed by the chairperson/secretary/ president/ 2 authorised signatories is required.
  13. A declaration to be taken that the entity does not accept any Foreign Contribution. No account to be opened if the entity accepts Foreign Contribution.
  14. IP cheque of INR 25000 or more for account opening.
  15. Form 12A will also be required alongwith the other documents in case a Savings Account is to be opened. This is not required in case of a Current Account.

*Where banking clause is not mentioned in the Bye laws/Constitution document AND/OR variation in mode of operation between constitutional documents and resolution for account opening, then following documents to /be obtained:

  1. Resolution for account opening with banking clause and mode of operations signed by majority of the members.

Now, we need to list the documents we already have and the ones that need to be put together (in addition to the Rs.10k cheques from each of us).