board resolution
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2010
how to prepare board resolution for purchase of car on behalf of company against loan.
06 December 2010
“RESOLVED THAT the company do borrow and avail of a loan of up to Rs. 6,00,000/-(Rupees Six Lacs only) (the “said Facility”) from Bank of Baroda to purchase one motor vehicle against the security of the vehicle of the following description on the terms set out in the printed loan documents of the bank for such loan which was tabled at the meeting.
RESOLVED FURTHER THAT all the terms and conditions as set out in the Credit Facility Application Form (No. ….………….) submitted/ to be submitted by us to Bank of Baroda and the standard terms as referred to therein (hereinafter collectively referred to as the “Loan Terms”)and which govern and regulate the obligation of the company in the event of Bank of India (at its sole and absolute discretion) granting the said facility to the company based upon/ pursuant to the aforesaid application submitted/to be submitted by the company, be and is hereby approved.
RESOLVED FURTHER THAT the company do execute an unattested deed of hypothecation in favour of Bank of Baroda in connection with the said Facility and do all such other acts, deeds and things and execute/furnish all such other documents, deeds and writings as Bank of India may require in connection with the Facility.
RESOLVED FURTHER THAT Mr. Ramesh Kumar and Ms. Preeti jain, authorised signatories of the company be and are hereby authorized to fill up and submit the aforesaid credit Facility Application Form to Bank of Baroda (or any of its authorized representative) for the purpose of borrowing the said Facility form Bank of Baroda, to negotiate, settle, finalise, modify the terms and conditions in connection with the said Facility and to execute/issue post dated cheques, an unattested deed of hypothecation and to do all such other acts, deeds and things and to execute / furnish all such other documents, deeds and writings as Bank of Baroda may require.
RESOLVED FURTHER THAT the common seal of the company be affixed in the presence of Managing Director or Company Secretary on such of the aforementioned documents as may be required by Bank of India in connection with the Facility.”
RESOLVED FURTHER THAT all the terms and conditions as set out in the Credit Facility Application Form (No. ….………….) submitted/ to be submitted by us to Bank of Baroda and the standard terms as referred to therein (hereinafter collectively referred to as the “Loan Terms”)and which govern and regulate the obligation of the company in the event of Bank of India (at its sole and absolute discretion) granting the said facility to the company based upon/ pursuant to the aforesaid application submitted/to be submitted by the company, be and is hereby approved.
RESOLVED FURTHER THAT the company do execute an unattested deed of hypothecation in favour of Bank of Baroda in connection with the said Facility and do all such other acts, deeds and things and execute/furnish all such other documents, deeds and writings as Bank of India may require in connection with the Facility.
RESOLVED FURTHER THAT Mr. Ramesh Kumar and Ms. Preeti jain, authorised signatories of the company be and are hereby authorized to fill up and submit the aforesaid credit Facility Application Form to Bank of Baroda (or any of its authorized representative) for the purpose of borrowing the said Facility form Bank of Baroda, to negotiate, settle, finalise, modify the terms and conditions in connection with the said Facility and to execute/issue post dated cheques, an unattested deed of hypothecation and to do all such other acts, deeds and things and to execute / furnish all such other documents, deeds and writings as Bank of Baroda may require.
RESOLVED FURTHER THAT the common seal of the company be affixed in the presence of Managing Director or Company Secretary on such of the aforementioned documents as may be required by Bank of India in connection with the Facility.”
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06 December 2010
SAMPLE BOARD RESOLUTIONS:
For some more sample board resolutions kindly visit the link below:
1. https://www.caclubindia.com/forum/download-corporate-law-professional-files-70021.asp
2. https://www.caclubindia.com/articles/ca-articleship-some-useful-corporate-board-resolutions-ii-5874.asp
3. https://www.caclubindia.com/articles/ca-articleship-some-useful-corporate-board-resolutions-i-3911.asp
For some more sample board resolutions kindly visit the link below:
1. https://www.caclubindia.com/forum/download-corporate-law-professional-files-70021.asp
2. https://www.caclubindia.com/articles/ca-articleship-some-useful-corporate-board-resolutions-ii-5874.asp
3. https://www.caclubindia.com/articles/ca-articleship-some-useful-corporate-board-resolutions-i-3911.asp
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