Urgent- PLS HELP

Dear Praveen

If company has availed Loan then how any company can accept the loan? and their is no need for Resolution.

Company must file Form 8.

Regards

It could be somhow like this:-

“RESOLVED THAT the Company do avail the loan/credit facilities of Rs. -------------- from ---------------------- Bank, ----------------------- in the form of CC Limit/ Demand Loan/ Bank Guarantee as the case may be at the option of the Company and approval of the bank from time to time on such terms and conditions as stipulated by the bank.

RESOLVED FURTHER THAT Mr. -------------, Managing Director, Mr. ----------------, Directors of the Company be and are hereby severally authorized to do all the acts in this connection and enter into necessary agreement with the said Bank."

This resolution is for acceptance of loan granted by the bank 

Good Morning,

See the issue is my co had availed a loan and most of the documentation was done by the MD and Now the bank is requiring same be consented to by board at its meeting.

Thanks for reply.

Dear Praveen,

The bank is requiring resolution stating the power of the MD to take loan, this has to be done before taking loan. However format of resolution given by vivek can be used.

Regards,

Praveen Maniyar

Dear Praveen

Tell me one thing pls. Has your company used the loan amount(if loan) or its CC or balance is with the bank till now.

Regards