Unsecured loan

Preeti Jain (Company Secretary) (139 Points)

27 April 2012  

Dear All,

 

Please let me know, whether it is required for every Company, which is obtaining unsecured loan, to pass a resolution in the Board Meeting for the same ?

Can a Company pass such resolution in the beginning of Financial year for the purpose of loan to be obtained during the year upto a certain limit ?

 

Thanks in advance.....................