Draft Resolution for BG
Sathya Reddy
pls provide me the Draft Reasolution for Bank Gurantee
Regards
Sathya
09008102223
Reshma Poojari
In this respect ____ BANK Ltd has sanctioned Bank Guarantee limit of Rs.100 Lac vide its sanction letter no.______dated ____and the said letter is placed before the Board. The term and conditions governing the credit facility given in the said sanction of ___ BANK LTD. are approved by the board.
RESOLVED that sanctioned limits be availed by the company from _____bank Ltd. for the purpose of our Trading and Broking business with NCDEX,MCX & ICEX on terms and conditions mentioned in the aforesaid sanctioned letter.
“ RESOLVED FURTHER THAT Ms.__be requested for issuing Corporate extent of Rs.___ Lac in favour of AXIS BANK Ltd., Fort Branch, Mumbai for the credit facility sanction to us vied aforesaid sanction letter which has been accpted by the them /company”.
RESOLVED FURTHER THAT Mr.___. and Mr. __, severally are authorised to accept the terms and conditions for the overdraft, Bank Guarantee & F&O Margin Exposure limit sanctioned, to execute all the necessary documents including revival of documents and papers with such variations modifications as may be mutually agreed to and to do, execute and perform all such acts, deeds, matters and things as may be necessary in this regard. The comman seal of the company be affixed on the documents wherever it is required in accordence with the term of Articles of Association in the presence of Shri _____Director whenever required in this connection.
RESOLVED FURTHER THAT Mr. ___. and Mr.____are severally authorized to accept and execute the document of the Letter of Acknowledgement of Debt as and when required.
FURTHER RESOLVED THAT Mr. ____. and Mr. ____severally /are authorised to create security in favour of __ BANK Ltd., by way of Pledge of shares & FDR’s.
FURTHER RESOLVED THAT a copy of this resolution dully certified as true copy by Mr. ___. (Director) be forwarded to the bank and the bank be requested to act thereon.”
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