Board
Resolution To Approve Loan Application
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.”