section 293(1)(a) & 372A

Hi Mayuri,

Here ABC limited has to request XYZ pvt ltd for securing their assets, It will not be a authorisation.

For requesting Xyz Pvt Ltd...u can use the following wordings...with suitable modification...

FURTHER RESOLVED THAT the Company do request  ABC Limited to secure charge in favour of  ...Bank, as security for the sanction of ...loan of ` /- (Rupees only) granted by the said Bank to the Company.

FURTHER RESOLVED THAT for the security given to the ...Bank , it is hereby confirmed that the company has not paid any consideration to the ABC limited for giving security in favor of ...Bank nor does it propose to pay remuneration/ fee in future, in relation to this.

ASSUMING TRANSACTION IS AS ALLOWED UNDER COMPANIES ACT, 1956 AND RULES THEREUNDER.

Regards

Jaideep Pandya