Avon Stampings Private Limited

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Plot No-18/21/2, Revenue Estate, Village Nathupur, Tehsil rai, Sonipat, Haryana, 131029

BOARD RESOLUTION
 
The Resolution passed at the Board Meeting of Avon Stampings Pvt Ltd (hereinafter referred to as
“the Company”) held on15-12-2021 At Plot No-18/21/2, Revenue Estate, Village Nathupur, Tehsil
rai, Sonipat, Haryana, 131029.
Resolved That pursuant to provisions contained in Articles of Association, provisions of Section 179, 180
and other applicable provisions of the Companies Act, 2013, read with Rules made thereunder and pursuant
to the approval of the shareholders of the Company. The approval of the Board of Directors of the Company
be and is hereby given to the Company to borrow from Axis Bank Limited an aggregate amount up to Rs.
8900000/-(Rupees Eighty Nine Lakh only) consisting of  on such terms and conditions as may be
prescribed by Axis Bank Limited and as may be agreed to by any one Director of the Company. The Term
Loan Facility and the Credit Facility are collectively referred as the “Loan Facilities”.
* Resolved Further That pursuant to provisions contained in Articles of Association, provisions of Section
179, 180 and other applicable provisions of the Companies Act, 2013, read with Rules made thereunder and
pursuant to the approval of the shareholders of the Company , creation of a charge and hypothecation,
ranking first and exclusive  over G-67 3rd Floor with Roof Right Pushkar Enclave Paschim Vihar Delhi -
110063  of the Company in favour of Axis Bank Limited to the satisfaction of Axis Bank Limited as
security in respect of the Loan Facilities be and is hereby approved.
* Resolved Further That upon creation of a charge and hypothecation, ranking first and exclusive over the
Assets in favor Axis Bank Limited, approval of the Board of Directors of the Company be and is hereby
given to the Company to hand over possession of the Assets to Axis Bank Limited as security in respect of
the Loan Facilities.
Resolved Further That Shri. Nitin Goyal  and/or Shri. Vijay Goyal Directors of the Company and/or Shri.
Nitin Goyal (hereinafter referred as the “Authorised Signatories”) be and are hereby authorized jointly
and/or severally to approve, negotiate and finalize the Loan Agreement and all the schedules and annexures
thereto, including the security documents and other related documents, on behalf of the Company, as may be
required by Axis Bank Limited in connection with the aforesaid Loan Facilities.
 
Resolved Further That the Authorised Signatories be and are hereby authorized jointly and/or severally to
execute, amend and ratify on behalf of the Company the Loan Agreement and all the schedules and
annexures thereto, including the security documents and other related documents, as may be required by
Axis Bank Limited in connection with the aforesaid Loan Facilities.
 
Resolved Further That the Authorised Signatories be and are hereby authorized jointly and/or severally to
do all such acts, deeds, matters and things and execute all documents or writings and affix the Common Seal
of the Company, if required, as may be necessary, proper or expedient for the purpose of giving effect to this
resolution and for matters connected therewith or incidental thereto.
 
Resolved Further That a copy of this Resolution duly certified by any Authorised Signatories or any of the
Directors or Company Secretary, be furnished to such persons as may seek the same, for their reference and
record."
 
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Authorised Signatory / Director / Company Secretary