AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    
Agreements Back

DRAFT FORMAT OF RESOLUTION TO BE PASSED BY THE BOARD OF THE BORROWING SCHEDULED BANK FOR EXECUTION OF AGREEMENT

(applicable to banks which have not taken refinance earlier)

Resolved;

That the ........................... (name of bank) do borrow from the National Housing Bank (hereinafter referred to as "the Housing Bank") under its refinance scheme applicable to Scheduled Banks by way of refinance for the purpose of promoting housing in the country on the terms and conditions set out in the draft Memorandum of Agreement forwarded by the Housing Bank with its letter No. ................... dated .................., a copy whereof duly authenticaed by the Chairman has been circulated to the Members of the Board.

That the draft Memorandum of Agreement forwarded by the Housing Bank with its letter no. .............. dated .............. be and is hereby approved and Shri..................................... and Shri ...................... (name and designation) be and is hereby authorised to execute the Memorandum of Agreement under their signature duly witnessed.

That Shri .............................., director / official and Shri ......................... director / official be and are hereby authorised severally to borrow an amount up to Rs.............. with or without security from the Housing Bank by way of refinance for the aforesaid purposes from time to time upon the terms and conditions set out in the said Memorandum of Agreement with such modifications as might have been agreed to on behalf of the Bank and accept and convey acceptance on behalf of the Bank to the Housing Bank to the letters of sanction that may be issued by the Housing Bank from time to time in connection with the said borrowings.

That the following officials of the Bank

........................................

........................................

........................................

be and are hereby authorised severally to execute on behalf of the Bank and in favour of the Housing Bank such other deeds and documents, promissory notes, declarations and other writings whatsoever as the Housing Bank may require from time to time in connection with the aforesaid borrowings by way of refinance and generally to do or cause to be done such other acts, deeds and things as may be required by the Housing Bank in connection with the said borrowings.



Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys