Board Resolution

Board Resolution to Avail a Vehicle / Equipment Loan

A certified board resolution approving a vehicle or equipment finance facility and its documentation.

CERTIFIED TRUE COPY OF THE RESOLUTION

passed at the meeting of the Board of Directors of [Company Name] held on [Date] at [Place]

RESOLVED THAT the consent of the Board be and is hereby accorded to avail a Vehicle / Equipment Loan of Rs. [Amount] from [Bank Name], [Branch] Branch, for acquisition of [Asset Description] required for the business of the Company, on the terms set out in the sanction letter.

FURTHER RESOLVED THAT [Authorised Person Name], [Designation], be and is hereby authorised to accept the sanction, sign the loan-cum-hypothecation agreement and all other documents required by the bank, and to have the asset hypothecated / endorsed in favour of the bank as security.

Certified to be a true copy of the resolution duly passed by the Board of Directors.

___
[Director/Company Secretary]
DIN/Mem No: [..]

Before you use it — fill in / check

  • Company name
  • Bank/party name
  • Authorised person
  • Meeting date

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.