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Undertaking

The document is an undertaking addressed to Punjab National Bank by the proprietor of a firm. It includes commitments regarding the absence of relations with bank officials, no pending litigations, proper use of funds, compliance with statutory liabilities, management of additional funds, routing of sales proceeds, and exclusivity in banking arrangements. The document requires an authorized signatory's confirmation of these undertakings.

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Ankur Khanna
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74 views1 page

Undertaking

The document is an undertaking addressed to Punjab National Bank by the proprietor of a firm. It includes commitments regarding the absence of relations with bank officials, no pending litigations, proper use of funds, compliance with statutory liabilities, management of additional funds, routing of sales proceeds, and exclusivity in banking arrangements. The document requires an authorized signatory's confirmation of these undertakings.

Uploaded by

Ankur Khanna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

To Date:

Punjab National Bank


B/o_______________

Reg.: Undertakings

I/We, _____________________________, proprietor of M/s______________________ undertake as


below:

1. There is no relation with any member of the Bank's Board/ Senior officers of the Bank or of any
other bank’s board
2. There are no litigations pending against the firm/proprietor
3. Undertake to utilize the fund for the purpose it is sought for and the same shall not be utilized for
speculative purpose or any business activity prohibited by law.
4. Undertake that no pending overdue statutory liabilities like GST, Income Tax, Corporation Tax,
Professional Tax, etc. and have obtained/renewed licenses from statutory authorities required for
carrying out their business activity.
5. Undertake that in case of requirement of any additional funds over and above the sanctioned limits,
we shall manage the same from own sources
6. Undertake to route all sales proceeds from CC account with PNB only
7. Undertake to deal exclusively with our Bank under sole banking arrangement. For taking any fresh
loan from other Bank/ FI, prior permission shall be obtained from our Bank

Authorized Signatory

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