corporate dilemma (abc) 10 January 2013

How many accounts a company has

Hello Everyone,

I have just started a business in as a private limited company with 4 directors and have opened an Bank account. In the process I have realized that it is quite easy to open the Bank account with approval of minimum 2 directors' with the signature on the board resolution to open account.

If I want to know how many Bank accounts does my company has is there a way find that out from any organization ? May be by PAN reference ?

Also, Is it possible find on how many companies' boards is a director on, from his/her DIN Number ?

Looking forward for advice and help.

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2 Replies

narinder shukla (practice) 11 January 2013

it is depend on the permission of your principal banker. if yu have taken a loan from the bank they will alow only one bank to be operate and you have to route your transctions from that bank only ...for the purpose of govt. dues the principal bank can allow one more bank

Dr.narinder Shukla

Financial Consultant

RAJU O.F., (Advocate) 12 January 2013

For opening a bank account in the name of a limited company the resolution to that effect passed by the board of directors is necessary. Unless for manipulations, several accounts in different banks are not necessary. Normally while granting loan to a company, the bank would restrict all operations through that bank only. If the the borrower agreed to that terms, the lender bank can obtain garnishee order for transfer of balances under such accounts to the loan dues.