“RESOLVED THAT pursuant to the provisions of Section 186 read with Companies (Meetings of Board and its Powers) Rules, 2014, Section 179 and other applicable provisions of the Companies Act, 2013 read with rules made thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force),consent of the members be and is hereby accorded to the Board of Directors to grant loan to M/s. [•], [Name of the Company/person/body corporate], up to a maximum amount of Rs. [•] (Rupees [•] only) at a rate of interest of [•]% per annum and upon such terms and conditions as may be mutually agreed upon/as per the draft Loan Agreement as placed before the Board duly initialed by the Chairman;

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 relating to grant of loan to M/s. [•][Name of the Company/person/body corporate], and to make, sign and execute, on behalf of the Company, 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.”

Section 186 of Companies Act, 2013