Board Resolution to grant loan to employees

“RESOLVED THAT pursuant to the provisions of Section 179(3)(f) read with any other applicable provisions of Companies Act, 2013 read with Rules thereunder (including any statutory modifications or re-enactment thereof, for the time being in force), the consent of the Board be and is hereby accorded to grant the loan up to a maximum amount of Rs. [•] (Rupees [•] only) in aggregate to employees on such terms and conditions as may be decided from time to time;

RESOLVED FURTHER THAT Mr./ Ms. [•][Name and Designation of the authorized person] of the Company, be and is hereby authorized to take all necessary steps required for obtaining approvals, statutory, contractual or otherwise in relation to the above and to sign and submit such deeds, documents, agreements, undertakings and all other necessary papers as may be required; to accept modifications to the same as may be necessary and to do all such acts, deeds and things that may be required or considered necessary or incidental for the same.;

RESOLVED FURTHER THAT Mr./ Ms. [•][Name and Designation of the authorized person] of the Company, be and is hereby authorized to file required Form and returns with the Registrar of Companies or any other statutory authority and to do all such acts/ deeds/ things as may deem fit to give effect to this resolution including necessary entries in the Statutory registers of the company.”

Section 179 of Companies Act, 2013

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