Disbursement of a Term Loan

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Saurabh Jindal (Querist)
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25 January 2010 Hi!
Experts,

Sir,plz tell me whether we need to pass any resolution at any meeting when we get the disbursement of a Term Loan from a Credit agency ?

Regards,
Saurabh

Ankur Garg

Ankur Garg (Expert)
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25 January 2010 Dear Saurabh,

There is no need to pass any specific resolution in your case.

However a simple noting in board minutes regarding disbursement of a Term Loan is a very good secretarial practice to follow.

Regards

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