Board Resolution format for bank facility against property mortgage

                                      Excerpts of Minutes of the,

                                      Meeting of the Directors of (Your Company name) (private) Ltd,

                                      Held at (Company Address)

                                       On this day of (Date)

                                                                                                                                     

Present:       1. Director Name

                   2. Director Name

                  

The Company having arranged to obtain Banking Facilities from (Bank Name)

IT IS HEREBY RESOLVED:

1.  That this Company do obtain from the said (Bank Name), Lease Facility  of  Rupees Two Million Eight Hundred Thirty  Five Thousand Only, payable or repayable with interest at such rate or rates as may be prescribed by the Bank from time to time.

2.  That to secure these facilities against property mortgage.and  other securities as the Bank may require now and hereafter from time to time and upon such terms and conditions as to the securities or interest or otherwise as the Bank may require from time to time.

3.  That to sign, seal, execute, and deliver all such bonds/ documents instruments and other securities as any be required by the Bank now and hereafter from time to time and that every such sealing to be attested by any two Directors of the Company or any one Director and the Secretary of the Company.

..…………………

Chairman

I certify that above is a true excerpt of the Minutes

Of the meeting held by the Directors of the Company.                  

         

                                                                                               

……………………..

Secretary