RESOLUTION OF COMPANY

CREATION OF SECOND CHARGE IN FAVOUR OF XXXXXXXXXXXXX The Chairman informed the Board that the company has availed a Term Loan of Rs.xxxx Lakhs from xxxxxxxxxxxxx for xxxxxxxxx. He also informed that the company has to create second charge on all the immovable properties of the company, to secure the Term Loan availed from xxxxxxxxxx. After some discussions, it was RESOLVED THAT the equitable mortgage created by the company by deposit of title deeds of the immovable properties of the company, to secure Packing Credit Limit Foreign Documentary Bills Purchase/ Foreign Usance Bills Purchase Foreign Letter of Credit Letter of Guarantee sanctioned by xxxxxxxxxxxxx on First Charge basis, shall be extended to cover the Term Loan of xxxxxxLakhs sanctioned by xxxxxxxxxxxxxxxx on Second Charge basis. RESOLVED FURTHER THAT xxxxxxxxxxxx, Managing Director, be and is hereby authorised to deliver a copy of the resolution to xxxxxxxxxxxxxxx, to record the Second Charge in favour of xxxxxxxxxxxxxxxxxxxx. FURTHER RESOLVED THAT xxxxxxxxx, Managing Director, be and is hereby authorised to receive a copy of the Memorandum of entry and create Second Charge on all the immovable properties of the company, in favour of xxxxxxxxxxxxxxx.