Board Resolution - [To make Inter-corporate loan and Investment]
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF (NAME OF THE COMPANY) HELD AT THE REGISTERED OFFICE OF THE COMPANY AT (ADDRESS) ON (DATE) AT (TIME)
________________________________________
The board was informed that a request has been received to make loan (s) and/or give guarantee(s)/provide any security(ies) in connection with loan(s) made to and/or acquire by way of subscription, purchase or otherwise the securities by a sum not exceeding to Rs. _________ (Amount in words) in aggregate as mentioned against it in one or more tranches to meet their business requirement. The board was further informed that if approved, the making of loan to this company would attract the provisions of Section 372A of the companies Act, 1956.The Board discussed consider the same and passed the following resolution :
“RESOLVED THAT subject to the approval of the shareholders of the Company and pursuant to the provisions of section 372A and other applicable provisions if any of the Companies act 1956, (including any statutory modification or re-enactment thereof for the time being in force) and subject to such approvals, consents, sanctions and permissions of the appropriate authorities, departments or bodies as may be necessary, the Company be and is hereby authorized to grant loans of such amount(s) as mentioned in the understated Company from time to time, on such terms and conditions as may be decided from time to time notwithstanding, that the loans made may exceed the limits prescribed under the said section.”
“RESOLVED FURTHER THAT the aggregate of such loans made in one or more trenches as stated hereunder shall not exceed the amount of Rs. _________ (Amount in words) over and above the limit prescribed under Section 372A of the Companies Act, 1956.”
Name of the Company Amount of Loan in Rs.
“RESOLVED FURTHER THAT (Name of the persons(s) authorized) be and are hereby severally authorized to take such steps as may be necessary for obtaining approvals, statutory, contractual or otherwise, in relation to the above and to settle all matters arising out of and incidental thereto and sign and execute all deeds, applications, documents and writings that may be required, on behalf of the Company and generally to do all acts, deeds and things that may be necessary, proper, expedient or incidental for the purpose of giving effect to the aforesaid Resolution.”
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF (NAME OF THE COMPANY) HELD AT THE REGISTERED OFFICE OF THE COMPANY AT (ADDRESS) ON (DATE) AT (TIME)
________________________________________
The board was informed that a request has been received to make loan (s) and/or give guarantee(s)/provide any security(ies) in connection with loan(s) made to and/or acquire by way of subscription, purchase or otherwise the securities by a sum not exceeding to Rs. _________ (Amount in words) in aggregate as mentioned against it in one or more tranches to meet their business requirement. The board was further informed that if approved, the making of loan to this company would attract the provisions of Section 372A of the companies Act, 1956.The Board discussed consider the same and passed the following resolution :
“RESOLVED THAT subject to the approval of the shareholders of the Company and pursuant to the provisions of section 372A and other applicable provisions if any of the Companies act 1956, (including any statutory modification or re-enactment thereof for the time being in force) and subject to such approvals, consents, sanctions and permissions of the appropriate authorities, departments or bodies as may be necessary, the Company be and is hereby authorized to grant loans of such amount(s) as mentioned in the understated Company from time to time, on such terms and conditions as may be decided from time to time notwithstanding, that the loans made may exceed the limits prescribed under the said section.”
“RESOLVED FURTHER THAT the aggregate of such loans made in one or more trenches as stated hereunder shall not exceed the amount of Rs. _________ (Amount in words) over and above the limit prescribed under Section 372A of the Companies Act, 1956.”
Name of the Company Amount of Loan in Rs.
“RESOLVED FURTHER THAT (Name of the persons(s) authorized) be and are hereby severally authorized to take such steps as may be necessary for obtaining approvals, statutory, contractual or otherwise, in relation to the above and to settle all matters arising out of and incidental thereto and sign and execute all deeds, applications, documents and writings that may be required, on behalf of the Company and generally to do all acts, deeds and things that may be necessary, proper, expedient or incidental for the purpose of giving effect to the aforesaid Resolution.”
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