Board Resolution for lending Inter-corporate Deposits to Gro

Dear Sadhana,

“RESOLVED THAT pursuant to Section 292(1)(e) & (4) and 372 A of the Companies Act, 1956 and subject to all other applicable provisions of the said Act, an amount of Rs.100,00,00,000/- (Rupees One Hundred Crores only) be deposited as inter- corporate deposit with M/s. ABC Private Limited for a period of 1 year at the rate of interest of 14% per annum.

“RESOLVED FURTHER THAT Mr. Siva Shankaran, Chairman and Managing Director of the Company be and is hereby authorised to do all such acts, deeds and things as may be necessary in this regard”.

Dear manivannan jayaraman

Thanks for the Board Resolution. Can u please advice me whether a private company provide interest free inter corporate deposit to its subsidiary company, If yes than what will be the duration & formalities to be completed by both the companies.

please also send resolution to be passed at both the ends.

Thanks

Ravindra Uttekar