Letter of Undertaking Format

Sample / Template / Example of Letter of Undertaking from company director for Bank Loan in word/ .doc

LETTER OF UNDERTAKING

To,

The Branch Manager

State Bank of India

Nariman Point Casa

Mumbai – 458 782.

Dear Sir,

Reg : Our Loan/Cash Credit/OD …………..   A/c No. ……………….

I / We, ………………………..  S/o …………………………… resident of …………… …………………………………… in the capacity as director/authorised signatory for and on behalf of Rocket Sales Ltd. do hereby solemnly declare and undertake that :

There is no person in our present Board of Directors who has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

There is no person in our present Board of Directors who is a Director on the Board of a Company, which has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

We shall not induct, ever in future, any person who has been identified as willful defaulter and/or who is a Director on the Board of a Company, which has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

In case any such person is found to be a Director in our Board of Directors, the Company shall take expeditious and effective steps for immediate removal of such person from the Board.

Date :                                                                                      Yours faithfully,

Place