Board resolution
This query is : Resolved
22 June 2013
How to prepare Board Resolution for purchase of backhoe loader (caterpillar 424b - construction equipment) on behalf of Pvt ltd company against loan?
CS Ankur Srivastava
(Expert)
22 June 2013
Draft Resolution: 1
“RESOLVED THAT the Company do purchase…………….. equipment amounting to Rs…………. From ………………. to supplement its construction activity.”
“RESOLVED FURTHER THAT the said ……….equipment be financed from …………………. Bank on the terms & conditions as may be stipulated by ………………………….. Bank in this regard.”
“RESOLVED FURTHER THAT Shri …………………. and Shri ………………., Directors of the Company be and are hereby severally authorised to make, enter, into, execute, sign, seal and deliver to ……………… Bank All documents including the agreement, promissory notes and power of attorney, as may be required and to do all such acts deeds and things as may be necessary, expedient and desirable to give effect to the above resolution.”
Draft Resolution: 2
“RESOLVED THAT the Company do enter into a financial agreement with ………………. Bank to purchase a …………………………… equipment amounting to Rs. ………………………. on the following terms and conditions:
(a) The amount shall be used for the purpose to purchase the ……………………………. Equipment which is to be used to supplement the activity of the company.
(b) The amount will be repayable in periodical installments for tenure not exceeding 35 months.
(c) The financed equipment be given as security to the Bank until the payment in full.”
“RESOLVED FURTHER THAT Shri …………………. and Shri ………………., Directors of the Company be and are hereby severally authorised to make, enter, into, execute, sign, seal and deliver to ……………… Bank All documents including the agreement, promissory notes and power of attorney, as may be required and to do all such acts deeds and things as may be necessary, expedient and desirable to give effect to the above resolution.”
“RESOLVED THAT the Company do purchase…………….. equipment amounting to Rs…………. From ………………. to supplement its construction activity.”
“RESOLVED FURTHER THAT the said ……….equipment be financed from …………………. Bank on the terms & conditions as may be stipulated by ………………………….. Bank in this regard.”
“RESOLVED FURTHER THAT Shri …………………. and Shri ………………., Directors of the Company be and are hereby severally authorised to make, enter, into, execute, sign, seal and deliver to ……………… Bank All documents including the agreement, promissory notes and power of attorney, as may be required and to do all such acts deeds and things as may be necessary, expedient and desirable to give effect to the above resolution.”
Draft Resolution: 2
“RESOLVED THAT the Company do enter into a financial agreement with ………………. Bank to purchase a …………………………… equipment amounting to Rs. ………………………. on the following terms and conditions:
(a) The amount shall be used for the purpose to purchase the ……………………………. Equipment which is to be used to supplement the activity of the company.
(b) The amount will be repayable in periodical installments for tenure not exceeding 35 months.
(c) The financed equipment be given as security to the Bank until the payment in full.”
“RESOLVED FURTHER THAT Shri …………………. and Shri ………………., Directors of the Company be and are hereby severally authorised to make, enter, into, execute, sign, seal and deliver to ……………… Bank All documents including the agreement, promissory notes and power of attorney, as may be required and to do all such acts deeds and things as may be necessary, expedient and desirable to give effect to the above resolution.”
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
