A Board Resolution For Renewal Of Bank Guarantee is a crucial corporate document required when a company needs to extend the validity of an existing bank guarantee in India. This document is essential for companies engaged in contracts requiring ongoing bank guarantees, such as government tenders, project bids, or performance securities. The resolution must comply with the Companies Act 2013 and banking regulations, providing clear authorization for specific company officials to handle the renewal process with the bank. It includes critical information such as the original bank guarantee details, renewal period, authorized signatories, and any modified terms. This document is particularly important in the Indian business context where bank guarantees are frequently used as security instruments in commercial transactions.

1. Title and Date: Specifies that this is a board resolution with the date of the meeting

2. Attendance and Quorum: Lists directors present and confirms meeting quorum requirements are met

3. Chair of the Meeting: Identifies the chairperson of the board meeting

4. Existing Bank Guarantee Details: Information about the current bank guarantee including reference number, amount, beneficiary, and expiry date

5. Purpose of Renewal: Explains the business necessity for renewing the bank guarantee

6. Resolution Statement: The formal resolution text approving the renewal of the bank guarantee

7. Authorization: Specifies which officers are authorized to execute renewal documents and interact with the bank

8. Specimen Signatures: Space for authorized signatories to provide their signatures

9. Certification: Company Secretary or Director's certification of the resolution's authenticity