Board resolution

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Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2012 Can Anyone please provide me with a specimen of Board Resolution for Vehicle Loan

Ajay Mishra

Ajay Mishra (Expert)
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06 March 2012 Hi

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY BOARD OF DIRECTORS OF THE COMPANY IN ITS MEETING HELD ON .........th MAY 20 AT 01:00 P.M. AT ...................

“RESOLVED THAT the company do borrow and avail of a loan of up to Rs. ....../-(Rupees ....... only) (the “said Facility”) from ..... Bank Ltd (“...... Bank”) 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.

Description: ......Skoda Superb Elegance
Chassis No.: ......
Engine No: ....
Registration/Serial No: Not Available
Address where product is already kept/fix / located or is to be normally kept/fix/located: ...... LTD. address.......

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 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 (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 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 may require in connection with the Facility.

RESOLVED FURTHER THAT Mr....... or Mr. authorised signatories of the company be and are hereby authorized to fill up and submit the aforesaid credit Facility Application Form to ..... Bank (or any of its authorized representative) for the purpose of borrowing the said Facility form ......Bank, 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 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 in connection with the Facility.”

The specimen signature/s of the aforesaid authorized Directors of the company are as follows:

(Signature of Mr. .....) (Signature of Mr. .....)

Certified to be true
For ........... Limited

Director/Company Secretary

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2012 Thanks sir.

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