Agreement for Term Loan

This query is : Resolved

Saurabh Jindal (Querist)
Follow

25 January 2010 Hi!
Experts,

Sir, Sir plz tell me whether we need to pass any resolution at any meeting when any agreement is signed with a Credit agency for the term loan?

Regards,
Saurabh

Ankur Garg

Ankur Garg (Expert)
Follow

25 January 2010 Hello Saurabh,

Yes for signing of agreement you have to pass a board resolution authorising someone to sigh the agreement on behalf of the company. However at the time of disbursement of a Term Loan no resolution is required.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now