“RESOLVED THAT pursuant to Section 179(3)(d) read with the proviso of Rule 2(1)(c)(viii) of Companies (Acceptance of Deposits) Rules, 2014 and 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 borrow a sum of Rs. [•] (Rupees [•] Only) at a rate of interest of [•] % per annum from Mr. [•], Director of the Company towards <short term unsecured> loan;

RESOLVED FURTHER THAT the Board takes note of the  declaration  given by Mr. [•] to the effect that the amount extended by him to the Company is not being given out of the funds acquired by him by borrowing or accepting loans and deposits from others;

RESOLVED FURTHER THAT Mr./ Ms. [●] and  [●][Name and Designation of the authorized person] of the Company be and is hereby authorized to do all such acts, deeds and things as may be necessary, expedient and incidental thereto to give effect to this resolution.”

Section 179 of Companies Act, 2013