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    Deshraj Gautam
    The board of directors of [Company Name] passed resolutions to: 1) Approve obtaining a bank guarantee facility of up to Rs. [Amount] from HDFC Bank subject to terms agreed with the bank. 2) Secure the bank's dues on this facility by placing a charge on company deposits equivalent to a percentage set by the bank. 3) Authorize specific directors to negotiate terms, execute agreements, and issue certified copies of the resolutions on behalf of the company.

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    The board of directors of [Company Name] passed resolutions to: 1) Approve obtaining a bank guarantee facility of up to Rs. [Amount] from HDFC Bank subject to terms agreed with the bank. 2) Secure the bank's dues on this facility by placing a charge on company deposits equivalent to a percentage set by the bank. 3) Authorize specific directors to negotiate terms, execute agreements, and issue certified copies of the resolutions on behalf of the company.

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    The board of directors of [Company Name] passed resolutions to: 1) Approve obtaining a bank guarantee facility of up to Rs. [Amount] from HDFC Bank subject to terms agreed with the bank. 2) Secure the bank's dues on this facility by placing a charge on company deposits equivalent to a percentage set by the bank. 3) Authorize specific directors to negotiate terms, execute agreements, and issue certified copies of the resolutions on behalf of the company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    173 views1 page

    BR Format

    Uploaded by

    Deshraj Gautam
    The board of directors of [Company Name] passed resolutions to: 1) Approve obtaining a bank guarantee facility of up to Rs. [Amount] from HDFC Bank subject to terms agreed with the bank. 2) Secure the bank's dues on this facility by placing a charge on company deposits equivalent to a percentage set by the bank. 3) Authorize specific directors to negotiate terms, execute agreements, and issue certified copies of the resolutions on behalf of the company.

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    © All Rights Reserved
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    of 1

    Board Resolutions should be on letter head of the company

    Certified True Copy of resolution passed by Board of Directors of


    _________________________________________ in their meeting held on dt
    ________________________ at _____________ at _____________ AM

    Chairman informed the Board that _________________ approached HDFC Bank Ltd for Bank
    Guarantee facility for an amount of Rs _______________ and that HDFC Bank has granted the Bank
    Guarantee facility for an amount of Rs. _______________ subject to the terms and conditions as may
    be mutually agreed upon between the Company and the Bank. After discussions, the following
    resolution was passed:

    “RESOLVED THAT the consent of the Board of directors of the Company be and is hereby accorded
    to the Company for obtaining & availing the Bank Guarantees / letters of credit / Buyers Credit facility
    up-to the aggregate limits of Rs. _______________ (INR _____________ only) (hereinafter “the
    Facility”) from HDFC Bank Limited (hereinafter “the Bank”) on the terms and conditions as may be
    mutually agreed between the Company and the Bank from time to time.

    RESOLVED FURTHER THAT the consent of the Board of Directors of the Company be and is hereby
    accorded to the Company securing the dues of the Bank in respect of the Facility, including all interest,
    charges, costs and as required by the Bank, including without limitation, by marking a charge, lien
    and/or set-off on fixed deposits and other deposits placed and/or as may be hereafter placed by the
    Company with the Bank such that such charge, lien and/or set off at all times is equivalent to
    level/percentage as may be prescribed by the Bank of the amount of the Facility availed or being
    availed by the Company.

    RESOLVED FURTHER THAT Mr. _________________, __________________,


    ____________________, _______________________ directors of the Company be and are hereby
    severally authorized in relation to the said Facility (1) to negotiate and finalise the terms and
    conditions;

    (2) to execute all letters of request from time to time including all declarations, if any, required under
    the Export-Import Policy and Foreign Exchange Management Act, 1999 or rules made thereunder or
    under any other applicable law; (3) to execute such agreements, deeds, documents, declarations,
    undertakings, securities, indemnities and writings as the Bank may require; and (4) to issue a certified
    true copy of this resolution and to do all acts, deeds and things on behalf of the Company which are
    necessary and expedient to give effect to this resolution. RESOLVED FURTHER THAT pursuant to
    the Articles of Association of the Company, the Common Seal of the Company be affixed on such
    documents, declarations, agreements, securities, undertakings, indemnities and writings as may be
    required by the Bank in the presence of ______________________, _________________,
    ______________________, __________________________ directors of the Company, who would
    affix their signatures in token thereof. <<<<<< THIS CLAUSE WOULD CHANGE DEPENDING ON
    THE ARTICLES OF ASSOCIATION OF THE COMPANY]

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