Resolution for Request a Loan

AUSTIN DWI MANAGEMENT COMPANY LTD

Resolution in writing the Directors of Austin Dwi Management Company Ltd adopted by circulation on 05^thJune, 2013.

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FIXED DEPOSIT OVERDRAFT FACILITY –       PEOPLE’S BANK

                                                                        LKR 2,800,000.00

                                                                        Current Account No: 309100122536456     

  

We the undersigned being the Council Directors of the Austin Dwi Management Company Ltd (hereinafter referred as the “AustinDwi”)

HEREBY RESOLVE:

“ that the company do obtained from Peoples bank, Loans, Overdrafts, Trust Receipt Facilities, Letters of Credit Facilities, Bank Guarantees, Security Bonds and other Pecuniary aid and assistance accommodation and banking facilities up to a limit of Rupees ________ _______ Only (Rs. ________ ) from time to time and in a manner and subject to such terms and conditions and upon the security of the relative bills of exchange, shopping documents and the underlying goods under the Bank’s Constructive control, the relative Trust Receipts and the underlying goods under the borrower’s control, the Pledge over stocks under the bank’s control, Hypothecation over stocks consisting of row materials, work in progress and finished goods and such other or further security as   Peoples bank Might required in this connection including the joint and several guarantee of the Directors and for that purpose to sign, seal, execute and deliver from time to time all documents of whatsoever kind or nature as mey be required by the peoples bank, and that every such sealing be attested by any two Directors of the company

Further Resolved:

That any two Directors of the Company be and are hereby authorized to sign any document in connection with obtaining the above facility

NAMES OF THE COUNCIL MEMBERS                                     SIGNATURE

Dr. _________ Tootan Caman                                        ………………………

(Chairman)

Prof.  ________ James Bond                                                 ………………………

(Council Member)