Common seal

This query is : Resolved

Sreevidya P M (Querist)
Follow

01 September 2011 Our Company is making arrangement with HDFC Bank Limited for availing Vehicle loan by entering into a composite loan cum guarantee agreement after passing resolution at the board meeting . We have affixed common seal in the loan documents as prescribed by the bank and provided to the bank along with certified true copy of Extract of Board resolution .Now, they require to affix the common seal in the extract of board minutes also.We have clarified that it is not necessary to affix the common seal in the minutes. But the Bank stick on this condition and not releasing the loan .
I would like to discuss this matter with my caclubindia friends and expect a valuable advice/ confirmation regarding the legal aspects of affixing common seal in the extract of minutes of the board meeting as per Companies Act, 1956 to provide clarification to HDFC Bank Ltd for releasing vehicle loan for our company.
Thanks………….

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

01 September 2011 Can high light:-
1)the article in the AOA
2)secretarial standard 8 of ICSI.
3)section 46,48 and 54 of co's act,1956.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

T.N.Reddy

Sreekumar J Pai

asmita gupta

Keshav Dubey

kambamcr@gmail.com

Subscribe Now

Common seal

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

CA Final