ravi (senior accountant) (507 Points)
07 January 2011enhancement of cash credit limit (nationalised bank) from 25lacs to 65lacs-pvt co
We went to our bankers for enhancement of cash credit however it is approved now they are asking me the concerned board resolution from the management
pls suggest me the resolution required here and also suggest me any filing necessary with ROC
pls also send me the sample draft of such resolution
Thanks and regards the members,
Jayashree S Iyer
(Company Secretary)
(3224 Points)
Replied 07 January 2011
"RESOLVED THAT the Company do accept and avail the renewed Cash Credit Facility of Rs. 65 Lakhs sanctioned to the Company by State Bank of India, T.Nagar Branch, Chennai vide their Sanction Letter No................. dated ....................
RESOLVED FURTHER THAT Shri..........................., Director(Finance) and Shri ......................................., Vice-President(Finance) are hereby authorised to convey their acceptance to the Bank's Sanction Letter No................................... dated ...................... and to execute the documents, deeds, Undertakings, Declarations and Writings that may be required for availing said facility from the Bank.
RESOLVED FURTHER THAT the common seal of the Company be affixed wherever necessary in the presence of Shri ..........................., Director and Shri ..........................., Director and the same shall also be signed by Shri ........................., Company Secretary in token thereof."
Great article. I also want to get a credit card but cibil score scares me. This is because I have
heard that non payment in credit cards due to any reason also lowers down your cibil score. Is that true? https://www.loankuber.com/content/cibil-score/wanted-know-credit-limit-cibil-score/
Kritika Srivastava
(7 Points)
Replied 06 December 2017
CAclubindia
