RESOLUTION

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CA NIRAV (Querist)
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21 January 2010 CAN ANYONE SEND ME FORMAT OF RESOLUTION REQUIRED TO BE PASSED FOR INTER COMPANY LOAN BY COMPANY PROVIDING LOAN?

Ankur Garg

Ankur Garg (Expert)
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21 January 2010 RESOLVED THAT pursuant to the Section 292, 372A and/or other relevant provisions of the Companies Act, 1956, if any, the Board of Directors of the Company be and is hereby authorised to borrow from time to time such sums of money for the purpose of the business of the Company provided that the moneys to be borrowed together with the moneys already borrowed by the Company (apart form temporary loans obtained from the Company's bankers in the ordinary course of business) will not exceed the aggregate of the Company's paid-up capital and free reserves, that is to say, reserves not set apart for any specific purpose.â€

RESOLVED FURTHER THAT for the purpose of giving effect to this resolution, the Board be and is hereby authorized to do all such acts, deeds, matters and things as it may in its absolute discretion consider necessary, proper or desirable and to settle any question, difficulty or doubt that may arise in this regard.â€

RESOLVED FURTHER THAT any Director of the Company be and is hereby authorized to execute, sign and issue for and on behalf of the company, the Loan Agreement, any other agreements, deeds, documents and writings as may be required in relation to the above facility and to do all such acts, deeds and things necessary for giving effect to this resolution.

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