Board Resolution To Approve Loan Application

     

 Board-Resolution-Approve-Loan-Application

Board Resolution To Approve Loan Application

"RESOLVED THAT the making of loan application to the __________ on behalf of the Company be and is hereby approved and confirmed."

"RESOLVED FURTHER THAT the terms and conditions on which by the aforesaid letter, the _____________ has signified its willingness to advance a loan of an amount not exceeding Rs. ______ (Rupees ______ only) to the Company be and are hereby approved unconditionally and accepted."

"RESOLVED FURTHER THAT the unconditional acceptance of the said terms and conditions be communicated to the said ________ by Mr. ______, Director for and on behalf of the Company."

"RESOLVED FURTHER THAT as per terms and conditions accepted, as aforesaid, mortgage deed for a consideration not exceeding Rs. ______ (Rupees ____ only) in respect of the asssets of the company mentioned in the said _________ letter aforesaid be executed under the Common Seal, if any, of the Company in favour of the said Corporation by Mr. _____ who shall execute and sign the said mortgage deed in the name and on behalf of the company. The Common Seal, if any, of the company shall be affixed to the said mortgage deed in the presence of the above named person(s) who shall sign the said mortgage deed, present the same for registration before the registering authority and admit execution thereof and receive consideration thereafter, and do all other acts in relation or incidental to the transaction including the signing of all relevant papers and documents."

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