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Discussion > Corporate Law >

enhancement of cash credit limit in a nationalised bank

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senior accountant


[ Scorecard : 501]
Posted On 07 January 2011 at 12:23 Report Abuse

enhancement of cash credit limit (nationalised bank) from 25lacs to 65lacs-pvt co

We went to our bankers for enhancement of cash credit however it is approved now they are asking me the concerned board resolution from the management

pls suggest me the resolution required here and also suggest me any filing necessary with ROC

pls also send me the sample draft of such resolution

Thanks and regards the members,


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Jayashree S Iyer
Company Secretary


[ Scorecard : 3109]
Posted On 07 January 2011 at 14:31

"RESOLVED THAT the Company do accept and avail the renewed Cash Credit Facility of Rs. 65 Lakhs sanctioned to the Company by State Bank of India, T.Nagar Branch, Chennai vide their Sanction Letter No................. dated ....................

RESOLVED FURTHER THAT Shri..........................., Director(Finance) and Shri ......................................., Vice-President(Finance) are hereby authorised to convey  their acceptance to the Bank's Sanction Letter No................................... dated ...................... and to execute the documents, deeds, Undertakings, Declarations and Writings that may be required for availing said facility from the Bank.

RESOLVED FURTHER THAT the common seal of the Company be affixed wherever necessary in the presence of Shri ..........................., Director and Shri ..........................., Director and the same shall also  be signed by Shri ........................., Company Secretary in token thereof."

 




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