RESOLVED that pursuant to the provisions of section 294 of the Companies Act, 1956, and
subject to the approval of the Reserve Bank of India and subject to the offer being accepted
by…………., this meeting approves the appointment of as the company’s sole selling agent for
sale of structural steel-work, pressed steel tanks, grey iron castings and steel forgings in the
territory of …………for a period of one year with effect from…………….. on the terms and
conditions set out in company’s letter dated …………or with such modifications (not being less
advantageous to the company) as may be mutually agreed to by the Board of Directors of the
company and ……………….