RESOLUTION FOR CREATION OF MORTGAGE FOR LOANS

(i) RESOLVED that the consent of the company be and the same is hereby accorded to the creation by the company of a first fixed charge to be constituted in accordance with          law in such form or forms as may be approved by …………in favour of …………over all the lands, factories, buildings, structures, fixtures, fixed plant and fixed assets of the company as a security (in addition to the security of a floating charge on the other property of the company) for the loan of …………from…………to the company and interest payable on the loan and other money intended to be secured to rank pari passu in all respects with the existing mortgages on the company’s property and assets created in favour of the …………and………… for the loans granted by them to the company, and with the charge proposed to be created in favour of …………for the second loan of Rs . …………proposed to be provided by it to the company.

(ii) RESOLVED FURTHER that the consent of the company be and the same is hereby accorded to the creation by the company of a first legal mortgage in favour of the…………………………on such terms as the Board of Directors of the company may agree with…………over all the lands, factories, buildings, structures, fixtures, fixed plant and fixed assets of the company as security (in addition to the security of a floating charge on the other property of the company) for the rupee loan of Rs …………from the ……………to the company and interest payable on the loan and other moneys intended to be secured to rank pari passu in all respects with the existing mortgages on the company’s property and assets created in favour of…………and…………for the foreign exchange loans granted by it to the company and with the charge             proposed to be created in favour of Rs .             for the second loan of …………proposed to be provided by it to the company.