Agreement for Term Loan

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Saurabh Jindal (Querist)
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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)
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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

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