Board resolution, acceptance of an unsecured loan from a director

Certified true copy of the resolution passed at the meeting of the Board of Directors of [ABC Private Limited] held on [Date of the board meeting] at [Time of the board meeting] at the registered office of the Company

ACCEPTANCE OF AN UNSECURED LOAN FROM [Lending director's name], DIRECTOR

The Chairman informed the Board that the Company requires funds of [Rs ____ (Rupees ____ only)] for [working capital requirements / margin money against the term loan sanctioned by ____ Bank / meeting the shortfall in ____], and that [Lending director's name], a Director of the Company, has offered to advance the said sum by way of an unsecured loan. He placed before the Board a written declaration dated [Date of the director's written declaration] received from the said Director to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others, and explained that on receipt of such a declaration the amount is not a deposit within the meaning of the Companies (Acceptance of Deposits) Rules, 2014, and that the particulars of the amount are required to be disclosed in the Board's report.