resolution for pledging property
This query is : Resolved
Ankur Garg
(Expert)
31 August 2009
Hi,
Change it according to your need:
"RESOLVED THAT pursuant to section 293(1)(a) of the Companies Act, 1956 (including any statutory modification or re-enactment thereof for the time being in force) the consent of the Members be and is hereby accorded to the Board of Directors for mortgaging/charging the movable or immovable properties of the Company both present and future, of the whole or substantially the whole of the undertaking(s) of the Company in such form and manner as the Board of Directors may deem fit, for providing any securities or guarantees or for securing any loans and/ or advances obtained or that may be obtained from any financial institutions/ banks/ bodies corporate or persons together with interest, cost, charges, expenses and all other monies payable by the Company to the concerned lenders, up to a value of and within the overall limit of Rs. 50,000,000 (Rupees Five Crores only) of the company.
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€
Change it according to your need:
"RESOLVED THAT pursuant to section 293(1)(a) of the Companies Act, 1956 (including any statutory modification or re-enactment thereof for the time being in force) the consent of the Members be and is hereby accorded to the Board of Directors for mortgaging/charging the movable or immovable properties of the Company both present and future, of the whole or substantially the whole of the undertaking(s) of the Company in such form and manner as the Board of Directors may deem fit, for providing any securities or guarantees or for securing any loans and/ or advances obtained or that may be obtained from any financial institutions/ banks/ bodies corporate or persons together with interest, cost, charges, expenses and all other monies payable by the Company to the concerned lenders, up to a value of and within the overall limit of Rs. 50,000,000 (Rupees Five Crores only) of the company.
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€
Ankur Garg
(Expert)
31 August 2009
Thanks & same to you...
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- Ito add credit side of bank
- GSTR9 Annual Return
- Form 144 TDS Return Validation error
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- LLP audit and disclosure
- Import of Capital Machine
- Rectification under processing even after 6 months cpc portal
- Applicability of tax on invoice
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
