Board Resolution Format for Accepting Loan in Word

Sample Template Example of a Professional Extract of Board Resolution Passed at Meeting of Board of Directors of a Private Company / Public Company for Availing Loan From Bank / Loan Against Fixed Deposit / Loan Restructuring in Word / Doc / Pdf Free Download

CERTIFIED TRUE COPY OF THE EXTRACT OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF STABNET COMMERCIALS PRIVATE LIMITED HELD AT THE REGISTERED OFFICE OF THE COMPANY AT 15, M G ROAD 21ST FLOOR MUMBAI 410101 ON 29/09/2023 AT 12:00

The Board was informed that a request was made to Birla Capital Limited (“BCL”) for sanction of a loan facility of Rs. 60,20,000/- (Rupees SIXTY LACS TWENTY THOUSAND only) (“Loan”) in one or more tranches, for meeting the funds requirement of the Company. 

The Chairman informed the Board that BCL has sanctioned the Loan and the draft loan agreement (“Loan Agreement”) and other related documents to be executed by the Company have been placed before the Board for its due consideration and have been initialed by the Chairman for the purpose of identification.

The Board discussed the matter and passed the following resolutions:

“RESOLVED THAT pursuant to section 179 (3) (d) of the Companies Act, 2013 (or such modification and re-enactment thereof), and in accordance with the Memorandum and Article of Association of the Company, consent of the Board of directors of the Company be and is hereby accorded to borrow the Loan from BCL, in one or more tranches".

“RESOLVED FURTHER THAT the terms and conditions contained in the draft Loan Agreement and other related documents as placed before the Board be and are hereby approved for execution thereof.”

"RESOLVED FURTHER THAT AMIT JAIN and PRAVEEN SINGH be and are hereby severally authorized to agree to change(s), if any, suggested by BCL to the draft Loan Agreement and/or related documents and/or in any terms and condition of sanction of the Loan or continuation of the Loan,  apply for and obtain extensions and renewals thereof, execute the Loan Agreement and such other agreements, deeds, documents, instruments power of attorney including any modification, amendments, supplemental in respect of the aforesaid as may be required in terms of the Loan Agreement or otherwise requested by BCL; and to make all necessary applications, filings, registrations with any statutory / regulatory / governmental authority including but not limited to Registrar of Companies; and to obtain all approvals, consents as may be required from any statutory / regulatory / governmental authority and or any other person for the purpose of availing the Loan; and to do all such acts, deeds and things and to sign all such documents, forms and writings as may be necessary, expedient and incidental thereto to give effect to this resolution and for matter connected therewith or incidental thereto, and if so required, the Common Seal of the Company, if any, in accordance with Articles  of Association of the Compa­ny.”

 “RESOLVED FURTHER THAT the aforesaid power entrusted to the said directors/officials shall be valid and effective unless expressly revoked by the Board.

“RESOLVED FURTHER THAT a certified copy of the resolution be given to BCL under the signature of a Director or Company Secretary.”

Certified True Copy



Company Secretary/Director

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