Board Resolution For Availing Working Capital Limits From Consortium Banks

In consideration of the , having agreed, at the request of the company to place the working capital limits of on consortium basis with other banks, led by , it is hereby resolved.

i) that the company be and is hereby authorised to avail of the aggregate limit of from the consortium of banks, detailed herein, in the following manner:

ii) that the company be and is hereby authorised to avail of the above cash credit limit from Banks in the consortium in the pattern as under:

Pursuance to the above, the as leader of consortium be and is hereby requested to implement the necessary sharing of the bills and ancillary business of the company (including the entire foreign exchange Business) amongst the consortium members, in such proportion as may be agreed to by the members, effective from the date of commencement of participating by the member banks and the company shall always abide by the advices of in this regard :

iii) that the company be and is hereby authorised to create such security as the /other banks of the consortium may require and that Shri and/ or Shri be and is/are hereby authorised to execute such documents/agreements as the Bank's may require, on behalf of the company in this connection;

iv) that the Common Seal of the company shall be affixed on all such documents/agreements and that shall be attested by Shri and/or Shri