Extract of the Board Resolution (FORMAT 1) in Word Format
[On
the letterhead of the Company]
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THEMEETING OF THE BOARD OF DIRECTORS OF _____________________________________PVT. LTD.HELD AT THE REGISTERED OFFICE OF THE COMPANY AT _________________________________________________ ON ( /0 /2025) AT 11.00AM
The
Board was informed that a request was made to Stabnet Finvest Limited (“SFL”) for sanction of a loan facility of
___________________/- (Rupees only)(“Loan”) in one or more tranches, for meeting the funds requirement
of the Company.
The
Board was informed that SFL has sanctioned the Loan vide sanction letter dated[●](“Sanction Letter”) containing the terms
and conditions of sanction of the Loan and the draft loan agreement(“Loan Agreement”) and other related
documents to be executed by the Companywhich 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 SFL, in one or
more tranches".
“RESOLVED
FURTHER THAT the terms and conditions contained in the Sanction
Letter be and are hereby accepted and the draft Loan Agreement and other
related documents as placed before the Board be and are hereby approved for
execution thereof.”
“RESOLVED FURTHER THAT pursuant
to the terms of Section 179 (3) (f) of the Companies Act, 2013, the Company be
permitted to mortgagethe immovable property bearing number property ________________________________________________________within
the limits of Kolkata Municipal Corporation, owned by it, to SFL and provide such other
security as may be required by SFL, for securing the Loanalong with all
interest, additional interest, pre-payment charges, commission, discount, cost,
charges, expenses and all other dues and outstanding in respect of the Loan.”
"RESOLVED
FURTHER THAT ______________________________ be and are hereby severally authorized
to agree to change(s), if any,
suggested by SFL to the draft Loan Agreement and/or any loan documentation
mandated by SFL, 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 attorneyincluding
any modification, amendments, supplementals in respect of the aforesaid as may
be required in terms of the Sanction Letter / Loan Agreement or otherwise
requested by SFL, to create mortgage / charge on the aforesaid immovable
property or provide such other security as may be required by SFL; and to make
all necessary applications, filings, registrations with any statutory /
regulatory / governmental authority including but not limited to Registrar of
Companies for the creation and perfection of mortgage over the said immovable
property of the Company; 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/or creation and
perfection of mortgage as may be required by SFL; 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 be affixed thereto in the presence of Mr/Mrs____________________Director,
who shall sign the same in token thereof
as required by the 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 SFL under the signature of a
Director or Company Secretary.”
Certified True
Copy
Company
Secretary/Director
[Company
seal to be placed and to be authenticated as per the articles of association.]
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