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A Board Resolution For Authorization To Sign Loan Documents is a crucial corporate document required in India whenever a company seeks to obtain financing from banks or other lending institutions. This document, mandated under the Companies Act, 2013, serves as formal evidence that the company's board has approved the borrowing and delegated authority to specific individuals to execute the loan documentation. It is typically required by lenders as part of their due diligence process to ensure proper corporate authorization. The resolution must specify details such as the loan amount, lender information, authorized signatories, and the scope of their authority. It needs to be drafted in compliance with Indian corporate law requirements, including proper board meeting procedures and necessary statutory declarations, and may need to be filed with the Registrar of Companies in certain cases.
