Letter of Undertaking Format

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Sample / Template / Example of Letter of Undertaking from company director for Bank Loan in word/ .doc

LETTER OF UNDERTAKING
To,
The Branch Manager
State Bank of India
Nariman Point Casa
Mumbai – 458 782.

Dear Sir,

Reg : Our Loan/Cash Credit/OD …………..   A/c No. ……………….

I / We, ………………………..  S/o …………………………… resident of …………… …………………………………… in the capacity as director/authorised signatory for and on behalf of Rocket Sales Ltd. do hereby solemnly declare and undertake that :

There is no person in our present Board of Directors who has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

There is no person in our present Board of Directors who is a Director on the Board of a Company, which has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

We shall not induct, ever in future, any person who has been identified as willful defaulter and/or who is a Director on the Board of a Company, which has been identified as willful defaulter by any Scheduled Commercial Bank and/or Financial Institutions or Reserve Bank of India.

In case any such person is found to be a Director in our Board of Directors, the Company shall take expeditious and effective steps for immediate removal of such person from the Board.

Date :                                                                                      Yours faithfully,

Place

1 comment:

  1. There should be strict rules for people who do crimes/fraud with Loan facilities offered by the company.




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