Escrow account opening agreement
This query is : Resolved
11 June 2012
I have to open an Escrow Account for a company. Please Provide Board Resolution for the same. thanks.
11 June 2012
RESOLVED THAT the Company do borrow from Bank, situated at, by way of Term Loan of ì 100.00 Crores ( ì One Hundred Crores Only) as per bank sanction letter no. _________dated _________________ and that Mr. __________, Executive Chairman and Mr._____________-of the Company be and are hereby severally authorized to discuss and finalise the terms and conditions subject to which the said facility being sanctioned by the Bank.
RESOLVED FURTHER THAT Mr________ Executive Chairman and/or Mr. _____________, Vice Chairman and Managing Director of the Company and / or Mr._________, Vice President - Banking, be and are hereby severally authorized to sign and deliver on behalf of the Company all agreements, documents, deeds and forms relating to the above Secured loan including creation and / or modification of mortgage / security for the said facility and to do all such acts as may be required for the aforesaid purpose.
RESOLVED FURTHER THAT Company do hereby accord its approval to open a Escrow Account _______ Bank, situated at ___________ in the name of the Company for the term loan of ì. 100 Crores already sanctioned by the bank vide their sanction letter dated _______ and Mr. __________ Executive Chairman and/or Mr. _________ Vice Chairman and Managing Director of the Company be and are hereby severally authorised to operate the said Escrow account for the aforesaid loan.
RESOLVED FURTHER THAT the Common Seal of the Company if required be affixed to the fair stamped engrossment of the Indenture of Mortgage, deeds, documents, agreements and instruments relating to the mortgage/security in the presence of any one of Mr. _______, Executive Chairman, Mr. _______, Vice Chairman and Managing Director, Mr. ________, Chief Financial Officer, Mr.– Banking, or Mr._______Manager – Finance, of the Company who do sign the same in token thereof.”
RESOLVED FURTHER THAT Mr________ Executive Chairman and/or Mr. _____________, Vice Chairman and Managing Director of the Company and / or Mr._________, Vice President - Banking, be and are hereby severally authorized to sign and deliver on behalf of the Company all agreements, documents, deeds and forms relating to the above Secured loan including creation and / or modification of mortgage / security for the said facility and to do all such acts as may be required for the aforesaid purpose.
RESOLVED FURTHER THAT Company do hereby accord its approval to open a Escrow Account _______ Bank, situated at ___________ in the name of the Company for the term loan of ì. 100 Crores already sanctioned by the bank vide their sanction letter dated _______ and Mr. __________ Executive Chairman and/or Mr. _________ Vice Chairman and Managing Director of the Company be and are hereby severally authorised to operate the said Escrow account for the aforesaid loan.
RESOLVED FURTHER THAT the Common Seal of the Company if required be affixed to the fair stamped engrossment of the Indenture of Mortgage, deeds, documents, agreements and instruments relating to the mortgage/security in the presence of any one of Mr. _______, Executive Chairman, Mr. _______, Vice Chairman and Managing Director, Mr. ________, Chief Financial Officer, Mr.– Banking, or Mr._______Manager – Finance, of the Company who do sign the same in token thereof.”
11 June 2012
RESOLVED THAT the Company do borrow from Bank, situated at, by way of Term Loan of ì 100.00 Crores ( ì One Hundred Crores Only) as per bank sanction letter no. _________dated _________________ and that Mr. __________, Executive Chairman and Mr._____________-of the Company be and are hereby severally authorized to discuss and finalise the terms and conditions subject to which the said facility being sanctioned by the Bank.
RESOLVED FURTHER THAT Mr________ Executive Chairman and/or Mr. _____________, Vice Chairman and Managing Director of the Company and / or Mr._________, Vice President - Banking, be and are hereby severally authorized to sign and deliver on behalf of the Company all agreements, documents, deeds and forms relating to the above Secured loan including creation and / or modification of mortgage / security for the said facility and to do all such acts as may be required for the aforesaid purpose.
RESOLVED FURTHER THAT Company do hereby accord its approval to open a Escrow Account _______ Bank, situated at ___________ in the name of the Company for the term loan of ì. 100 Crores already sanctioned by the bank vide their sanction letter dated _______ and Mr. __________ Executive Chairman and/or Mr. _________ Vice Chairman and Managing Director of the Company be and are hereby severally authorised to operate the said Escrow account for the aforesaid loan.
RESOLVED FURTHER THAT the Common Seal of the Company if required be affixed to the fair stamped engrossment of the Indenture of Mortgage, deeds, documents, agreements and instruments relating to the mortgage/security in the presence of any one of Mr. _______, Executive Chairman, Mr. _______, Vice Chairman and Managing Director, Mr. ________, Chief Financial Officer, Mr.– Banking, or Mr._______Manager – Finance, of the Company who do sign the same in token thereof.”
RESOLVED FURTHER THAT Mr________ Executive Chairman and/or Mr. _____________, Vice Chairman and Managing Director of the Company and / or Mr._________, Vice President - Banking, be and are hereby severally authorized to sign and deliver on behalf of the Company all agreements, documents, deeds and forms relating to the above Secured loan including creation and / or modification of mortgage / security for the said facility and to do all such acts as may be required for the aforesaid purpose.
RESOLVED FURTHER THAT Company do hereby accord its approval to open a Escrow Account _______ Bank, situated at ___________ in the name of the Company for the term loan of ì. 100 Crores already sanctioned by the bank vide their sanction letter dated _______ and Mr. __________ Executive Chairman and/or Mr. _________ Vice Chairman and Managing Director of the Company be and are hereby severally authorised to operate the said Escrow account for the aforesaid loan.
RESOLVED FURTHER THAT the Common Seal of the Company if required be affixed to the fair stamped engrossment of the Indenture of Mortgage, deeds, documents, agreements and instruments relating to the mortgage/security in the presence of any one of Mr. _______, Executive Chairman, Mr. _______, Vice Chairman and Managing Director, Mr. ________, Chief Financial Officer, Mr.– Banking, or Mr._______Manager – Finance, of the Company who do sign the same in token thereof.”
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
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Salary and pension received from Asian Development Bank
- BIS Certificates
- Last year TDS Claim
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
