104.Special resolution for corporate guarantee

“RESOLVED THAT pursuant to Section 372A and other applicable provisions, if any, of the Companies Act, 1956 or any modification or re-enactment thereof, the guarantee of the company for Rs. <> crore furnished by the <M D> of the company as per the resolution passed in <>th Board Meeting held on <> to <bank> for granting banking facilities to M/s. <company> in lieu of the guarantee for Rs. <> furnished earlier by the company be and is hereby approved”

Explanatory statement

The Board at their meeting on <. Discussed the request of <company> for giving its corporate guarantee for Rs. <>. The board was satisfied with the exceptional circumstances, prevented the company from obtaining prior approval of members by a special resolution. Accordingly the Board authorized the Managing Director of the company to furnish the guarantee as requested by the <company>.