Board resolution, borrowing, creation of charge and execution of security documents

Certified true copy of the resolutions 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 at [Company's registered office address]

AVAILING OF CREDIT FACILITIES FROM [NAME OF BANK] AND CREATION OF SECURITY

The Chairman placed before the Board the sanction letter dated [Date of the sanction letter] bearing reference number [Reference number of the sanction letter] issued by [Name of Bank / Financial Institution], [branch] (the “Lender”), sanctioning to the Company credit facilities aggregating [Rs ____ (Rupees ____ only)] comprising [a cash credit facility of Rs ____, a term loan of Rs ____, a bank guarantee limit of Rs ____] on the terms and conditions set out therein. The Chairman explained the security to be created, the rate of interest, the repayment schedule and the covenants proposed. The Board took note that the said borrowing, together with the monies already borrowed by the Company, is within the limits of the borrowing powers of the Board and within the limits permitted by the Articles of Association of the Company.