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  • SEBI'S Model Underwriting Agreement

    SEBI'S Model Underwriting Agreement Download Word Document In English. (Rs.20/-) To, The Board of Directors..................Ltd ................................................. ................................................. Dear sir, Re: Forthcoming public issue of shares/debentures of Rs..... each for cash as part/premium aggregating to Rs...... (Public issue) 1.     We hereby record that we (hereinafter referred to as the underwriter) have agreed to underwrite/procure subscription to shares/debentures of Rs...... each for cash at par/premium aggregating to Rs..... (Rupees.... only) (hereinafter referred to as the underwriting obligation) for the captioned public issue by.... Ltd. (hereinafter referred to as "the Company" on the following terms and conditions. 2.     Opening of the subscription list: The subscription list for the public issue shall open not later than three months from the date of this agreement or such extended period(s) as the underwriter may agree to in writing. The subscription list shall, unless the issue is fully subscribed, be kept open by the company for a maximum period of 10 calendar days failing which the underwriter shall not be bound to discharge the underwriting obligations under this agreement. 3.     To make available final copy of the prospectus: The company shall before delivering to the Registrar of Companies (hereinafter referred to as "ROC") make available to the underwriter a copy of the prospectus, which shall be as modified in the light of the observations made by SEBI while issuing the acknowledgment card. The underwriter shall before executing this agreement satisfy himself with the terms of the issue and other information and disclosures contained therein. 4.     Delivery of prospectus to the Registrar of Companies: The prospectus in respect of the public issue shall be delivered by the company to the ROC for registration in accordance with the provisions of the Companies Act, 1956 not later that 30 days from the date of this Agreement or such extended period(s) as the under writer may approve in writing, the time being the essence of this Agreement. 5.     Material disclosures after filing of prospectus: The company agrees that, if after filing of the prospectus with the ROC any additional disclosures are required to be made in the interest of the investors in regard to any matter relevant to the issue, the company shall with such requirements as may be stipulated by SEBI or the lead manager and compliance of such requirements shall be binding on the underwriter; provided that such disclosures shall not give a right to the underwriter to avoid underwriting obligations unless such subsequent disclosures are certified by SEBI as being material in nature and essential for the contract of underwriting; the question whether or not such subsequent disclosures are material in nature, the decision of SEBI shall be final and binding on both the parties. 6.     Making available copies of prospectus and application form, etc. The company shall make available to the underwriter a minimum of...... (No. of application forms forming part of abridged prospectus) and....... (number of copies of the prospectus) for every lakh of ruppes of underwriting accepted by the underwriter. If the underwriter desires to have more application forms and prospectus than specified he must state his requirements which would then be considered as condition for acceptance of this underwriting Agreement. Thereafter, it is responsibility of the company to deliver to the underwriter the accepted quantity of application forms and prospectus as soon as the prospectus is filed with the ROC but in any case not later than 21 days prior to the date of opening of the public issue, proof of which, should be retained by the company. 7.     Warranty as to statutory and other approvals. The company warrants that all consents, sanctions, clearances, approvals, permissions, licences, etc., in connection with the public issue as detailed in the prospectus or required for completing the prospectus have been obtained or will be obtained and the same shall remain effective and in force until the allotment of all the shares/debentures are completed. 8.     Sub-underwriting arrangements: The underwriter shall be entitled to arrange for sub-underwriting of its underwriting obligation on his own account with any person or persons on terms to be agreed upon between them. Notwithstanding such arrangement, the underwriter shall be primarily responsible for sub-underwriting and any failure or default on the part of the sub-underwriters to discharge their respective sub-underwriting obligations, shall not exempt or discharge the underwriter of his underwriting obligation under this agreement. 9.     Treatment of applications made with underwriters/sub-underwriters stamp for the purpose of allotment. The application bearing the stamp of the underwriter or as the case may be the sub-underwriter whether made on their own behalf or otherwise shall be treated in the same manner as the applications received directly from the members of the public and, in the event of the issue being oversubscribed, such applications shall be treated on par with those received from the public and under no circumstances, the applications bearing the stamp of the underwriter or the sub-underwriter shall be given any preference or priority in the matter of allotment of shares/debentures. 10.  Computation of underwriter's obligation: 1.     If the issue is undersubscribed, the underwriting obligation, shall be determined in the manner set out hereunder; provided that under no circumstances, the underwriter's obligation to subscribe/procure subscription to shares/ debentures shall exceed the amount mentioned in clause 1 above. 2.     The following applications for shares/debentures shall be treated pro tanto in or towards satisfaction of the underwriter's obligations under this Agreement, namely - a.     applications which have been accepted excluding those withdrawn before allotment; and b.    applications received from the underwriter or any of his sub-underwriters including those applications which bear the stamp of the underwriter or any of the sub-underwriters, 3.     After making adjustments as provided in sub-clause (2) above the underwriting obligation of the underwriter and other underwriters shall be, subject to following further adjustments. a.     The application received from the public independently i.e. those applications not covered under sub-clause (2) above shall be apportioned amongst all the underwriters. Where underwriting obligations have not. been fully satisfied after adjustments under sub-clause (2) above in proportion to their respective underwriting obligations and to that extent their respective underwriting obligation shall stand reduced. b.    If, after the adjustments made under sub-clauses (2) and (3)(a) above, it is found that the shares/debentures available for adjustment are in excess of the shares/debentures required to be subscribed in fulfillment of the underwriting obligations of one or more individual underwriters, then such excess amount required to meet the underwriting obligations of any underwriter shall be further apportioned amongst such other underwriters, whose underwriting obligations have not been fully discharged, in proportion to their respective underwriting obligations. 11.  Procedure for effecting/discharge of underwriting obligations: The underwriting obligations as determined under clause 10 shall be discharged in the manner mentioned below: a.     the company shall within 30 days after the date of closure of subscription list communicate in writing to the underwriter, the total number of shares/debentures remaining unsubscribed, the number of shares/debentures required to be taken up by the underwriter or subscription to be procured therefor by the underwriter. b.    (b)the company shall make available to the underwriter, the manner of computation of underwriting obligation and also furnish a certificate in support of such computation from the company's auditors. c.     the underwriter on being satisfied about the extent of devolvement of the underwriting obligation, shall immediately and in any case not later than 30 days after receipt of the communication under sub-clause (a) above, make or procure the applications to subscribe to the shares/debentures and submit the same together with the application moneys to the company. d.    in the event of failure of the underwriter to make the application to subscribe to the shares as required under clause (c) above, the company shall be free to make arrangements(s) with one or more persons to subscribe to such shares without prejudice to the rights of the company to take such measures and proceedings as may be available to it against the underwriter including the right to claim damages for any loss suffered by the company by reason of failure on the part of the underwriter to subscribe to the shares as aforesaid. Note - The Company is free to quantify the damages being a multiple of the value of the shares/debentures not subscribed by the underwriter. 12.  Right to receive underwriting commission/brokerage. Subject to the underwriter fulfilling his underrating obligations, he shall be entitled to receive commission in respect of the underwriting obligation undertaken by him and brokerage in respect of the shares/debentures procured by him at the rates set out in clause 13 hereunder. The underwriting commission shall be payable only if his underwriting commitment is fully subscribed. 13.  Underwriting commission: (1) In consideration of the underwriter agreeing to underwrite the shares/debentures as mentioned in clause 1 above, the company shall pay to the underwriter a commission at the following rates; Note: 1.     The rates as mutually negotiated between the company and the underwriter may be inserted. Needless to say that the rates so agreed upon shall be subject to the provisions of section 76 of the Companies Act, 1956. 2.     (2) The underwriting commission shall be payable by the company within 15 days from the date of finalisation of allotment and proof of such payment within the specified time should be available with the company. The obligation to pay underwriting commission shall arise only upon the underwriter fulfilling his underwriting obligation and duly subscribing to the shares/debentures, if any devolved on him. 14.  Obligations of the company 1.     The company shall immediately after the closure of the subscription list, take expeditious steps for processing the applications and complete the allotment within the time limit prescribed under the Companies Act, 1956 and also comply with other listing requirements. 2.     If the company fails to receive 90% of the issue amount including the amount received from the underwriters towards devolvement, within 60 days from the date of closure of subscription list, the company shall refund the amount paid by the underwriter in fulfilment of his underwriting obligations. The obligation to refund the moneys shall be without prejudice to the disputes if any in regard to the underwriting obligation to the underwriter. 15.  Time is the essence of the agreement: All obligations of the company and the underwriter, are subject to the condition that time wherever stipulated, shall be of the essence of the agreement. Consequently any failure on the part of the company or the underwriter to adhere to the time limits shall unless otherwise agreed to between the company and the underwriter, discharge the underwriter or company of his/their obligations under the underwriting agreement. 16.  Right of termination under special circumstances. Notwithstanding anything contained herein, the underwriter shall have the option to be exercised by him at any time prior to the opening of the issue as notified in the prospectus of terminating this agreement under any or all of the following circumstances - i.                if any representations/statements made by the company to the underwriter and/or in the application forms, negotiations, correspondence, the prospectus or in this letter are or are found to be incorrect; ii.                a complete breakdown or dislocation of business in the major financial markets, affecting the cities of Calcutta, Bombay, Madras or New Delhi; iii.                declaration of war or occurrence of insurrection, civil commotion or any other serious or sustained financial, political or industrial emergency or disturbance affecting the major financial markets of Calcutta, Bombay, Madras or New Delhi. 17.  Notice of termination to the company: Notwithstanding anything contained in clause 16 above, in the event of the company failing to perform all or any of the covenants within time limits specified wherever applicable under this letter of underwriting, the underwriter shall inform the company with adequate documentary evidence of the breach/non-performance by Registered post/Speed post and acknowledgment obtained therefore, whereupon the underwriter shall be released from all or any of the obligations required to be performed by him. 18.  Net worth of the underwriter. The underwriter, hereby declares that he satisfies the net worth/capital adequacy requirements specified under the SEBI (Underwrites) Rules and Regulations, 1993 or the bye-laws of the stock exchange of which the underwriter is a member and that he is competent to undertake the underwriting obligations mentioned in clause 1 hereinabove. 19.  Registration with the SEBI: The underwriter hereby declares that SEBI has granted to him a certificate of registration to act as an underwriter in accordance with the SEBI (Underwriters) Rules and Regulations, 1993 or, he has applied for registration to SEBI within the time stipulated under sub-section (1) of section 12 of the Securities and Exchange Board of India Act, 1992 and is entitled to carry on the business as an underwriter under the SEBI Act. 20.  Reference to arbitration - Any dispute arising out of this agreement between the underwriter and the company shall be referred to the Arbitration Committee constituted by the Regional Stock Exchange in which the shares/debentures are to be listed and the decision of the Arbitration Committee shall be final and binding on both the parties. Yours faithfully. for.......... (Signature of the underwriter) We, the company.................. Ltd. the above named do hereby accept your offer for undewriting on the above mentioned terms and conditions. Authorised Signatory............... For............... Ltd. Designation.............. Authorised by a resolution passed at the meeting of the Board of Directors held on the....... day of.............. 19.....

  • Agreement for Building Where Owner Supplies Plot and All Materials

    Agreement for Building Where Owner Supplies Plot and All Materials An Agreement made on the ………..day of …………….BETWEEN AB, etc. (hereinafter called the “owner”) of the part and CD, etc, (hereinafter called the “contractor”) of the second part. WHEREAS the owner owns a plot of land measuring ……… meters situate at …. And more particularly described in the plan attached. and Whereas the owner is desirous of erecting a building on the said plot. and Whereas the plans, drawings, designs and elevations of the said intended building and specifications of the works to be done and of the materials to be provided in and for the erection of the same as prepared by the architect have been approved by the parties. and Whereas the contractor is willing to execute the said works for the sum of Rs…… and Whereas the materials to be used for the building will be supplied by the owner himself and the contractor will supply labour as well as the building tools and other accessories necessary for the completion of the said building. Now the Parties Hereto hereby Mutually agree as Follows : 1.     The contractor will clear and prepare the site for and will erect and complete the building in conformity with the plans, drawings, designs and elevations with the materials supplied by the owner in a thorough and work-manlike manner. 2.     Subject to the conditions hereinafter appearing, the owner will pay to the contractor a sum of Rs……. within six months after the contractor has completed the works in accordance with the terms of this agreement and handed over the same to the owner. 3.     The contractor will finish and complete the said building on or before the ….. day of ….. and if the said building shall not be completed on or before the said date, the contractor shall forfeit, out of the moneys which shall be due to him by virtue of this agreement, the sum of Rs….. for every days which shall elapse after the …… day of …… until the said building shall be completed : Provided if the contractor is prevented by any strike among the workmen or by reason of any event beyond his control, the owner may extend time for the completion of the work for such reasonable period as he may think fit under CI. (10). 4.     The contractor will do and perform all works incidental to the proper execution and completion of the building including all works rendered necessary in consequence of the doing of the works and will supply labour necessary for the same and no additional payment will be made for the same. 5.     The contractor will permit the owner to have access to the works while the same are under construction and to inspect the same. 6.     The contractor will not vary or deviate from the said plans and specifications without having first obtained the permission in writing of the owner. 7.     The contractor will, if so required by order in writing signed by the owner, alter the design or size of the works and the materials to be used in constructing the same, provided that he shall not be bound to do so unless the sum to be paid for any extras or to be allowed for any omission has been first fixed by agreement between him and the owner and, in default of agreement, the sum to be so paid or allowed shall be settled by ……………… 8.     The contractor shall make good any defects, shrinkage or other faults that may appear in the works within six months after their completion. 9.     While the works are in course of construction and until the owner takes over the same, they and all materials or plants used or to be used in constructing the same shall remain at the contractor’s risk and he shall not be entitled to any compensation for injury, to or loss or destruction of, such works or materials arising from any cause whatever. 10.  If the contractor requires any extension of time for completing the works he must apply to the owner within seven days from the date of the occurrence of the event on account of which he desires such extension; and the owner may, if he thinks such request reasonable, grant such extension of time as he may think necessary. 11.  If the owner is at any time dissatisfied with the progress of the work or with the quality of materials used or of the workmanship he may apply to ……. To depute an Engineer to inspect the works, and if such officer certifies in writing that the rate of progress or the materials used or the workmanship or any or all of them is or are unsatisfactory or not in accordance with this agreement, the owner may then enter upon the site of the works and may employ another builder to complete the same and may pay such builder the cost of such completion out of the sum payable to the contractor under this agreement or the balance of such sum if advances have been made to the contractor, and, if such cost is more than such sum of balance, then the contractor will pay the excess to the owner. 12.  Unless the terms are extended under clause (10) hereof, the contractor will complete a portion of the works of the value of not less than Rs….. on or before the …. And will complete the whole work and will remove from the site of the works all plant, scaffolding, unused materials and rubbish and will leave the works and site clean on or before……. 13.  If the contractor fails to comply with the provision of CI. (12) on or before the dates mentioned therein or within such extended time as be permitted in accordance with CI. (13) hereof, he will pay to the owner as liquidated damages a sum of Rs……………for every day’s delay, and the owner may deduct such sum or sums from any money due to the contractor under these presents or may recover it otherwise. 14.  At the end of each calendar month commencing from the date when the contractor commences work the owner will pay the contractor a sum equal to 80 per cent of the value as estimated by the parties or in case of disagreement between the parties by…………… of the work executed by the contractor during the month and the owner will make final payment to the contractor at the end of six months from the date when the works are completed. 15.  If at any time during the progress of the works or after completion or the alleged completion thereof and at any time during the continuance of this agreement any dispute or differences arise between the parties hereto in relation to or in connection with this agreement, the same shall be referred to the arbitration of Sri…………….as the sole arbitrator or to two arbitrators one to be appointed by each party and provisions or the Indian Arbitration Act, 1940, shall apply . The decision so given shall be final and binding upon the parties. 16.  The contractor will indemnify the owner from all claims for injury caused to any person, whether a workman or not, while in or upon the works or the site of the same the said owner shall not be bound to defend any claim brought under the Workman’s Compensation Act unless the contractor first deposits with the owner might incur by reason of defending any such claim. in Witness Whereof the parties hereto have signed this agreement on the day and year first written above. …………………… ………………….. (Contractor) (Owner) Download Word Document In English. (Rs.15/-)

  • Appointment Letter of a Probationer

    Appointment Letter of a Probationer ................... ................... Date................. To, Shri ........................... ................................ Dear Sir, With reference to your application dated ...................... for the captioned post and subsequent test and interview, we are pleased to advise you that you have been selected as a probationer for a period of two years in the    ............. department of the company on the following terms and conditions: 1.          Date of appointment You will be appointed as a probationer with effect from ................ 2.          Probation period The probation period will be one year. However, the said period can be extended at the discretion of the company for a further period of ..................... years. 3.          Salary during probation During the probation period, you will be entitled to fixed salary of Rs. .................. per month. 4.          Appointment after expiry of probation period, in case found suitable If after the expiry of probation period, you are found suitable by the company, you will be confirmed in your appointment on a salary of Rs. ...................... in the scale of ......................... plus other admissible allowances and contributory provident fund. If you are not found suitable for the job, your appointment will be terminated at the discretion of the company and in case of such termination you will have no right or claim against the company. 5.          Standing orders You shall abide by the terms and conditions of the standing orders and the rules of the company as in force from time to time. 6.          To obey orders and directions of the Manager You shall obey the orders, directions of the Manager and other officers of the company. In case you are agreeable to the above please confirm and sign duplicate copy of this letter as a token of your acceptance. Yours faithfully, Manager I agree and accept the above terms/conditions. Signature of the Probationer. Download Word Document In English. (Rs.5/-)

  • Agreement between a Company and an Advertising Agency

    Agreement between a Company and an Advertising Agency ADVERTISING AGREEMENT THIS AGREEMENT executed on this……………..day of 20... at ………….between: M/s. …….. Manufactures Ltd., a company incorporated under Companies Act, 1956 and having its registered office at…………….. here in after referred to as "the Company" through its Director Mr. ……………. (Which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the FIRST PART and M/s. XY Advertising Agency, a partnership firm registered under the Partnership Act, 1932 and having its registered office at ........ here in after referred to as "the Agency" through its Partner Mr. ………… (which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include every partner for the time being of the said firm, the survivor or survivors or the legal representatives, executors or administrators of the last survivor) of the OTHER PART. WHEREAS the company is manufacturer of various plastic and fiber products like Office Stationeries, Furniture, kitchen utensils, electronic gadget cabinets etc. hereinafter referred to as "the said products" and desirous to engage the services of an advertising agency for the purpose of advertisement of their products in India and abroad. AND WHEREAS the Agency has agreed to act as advertising agents for the company on the terms and conditions hereinafter mentioned. NOW IT IS HEREBY AGREED BETWEEN THE PARTIES AS FOLLOWS: 1.     The company appoints the Agency to advertise the said products in the newspapers, magazines, journals, cinema slides, video magazines, radio, television or public hoardings as may be determined by the parties. 2.     The Agency shall submit the estimate of cost and method and period of the advertisement to the company and after the said estimate and methods of advertisements is approved by the company in writing, the advertisements will be released to the concerned newspapers, magazines, television centre, etc. 3.     The Agency shall be responsible for preparing all the material for advertising, publicity including art work, photography, cinematography, documentary films, drawing, engraving, advertising writing, preparation of video films for T.V. advertisements and video magazines and if the said works are got done by the Agency at its own office with the help of its employees, the company shall pay for the same at the market rates and settled between the parties. If the said works are got done through outside agencies, the company shall pay all expenses incurred by the Agency for getting the work done through outside agencies. 4.     The company shall pay to the Agency . ……………..per cent above the cost and other expenses incurred by the Agency in this behalf as its commission. 5.     The Agency will be responsible for advertising the said products in India and other countries of the world, wherever the said products are exported or the company proposes to export its products. 6.     Whenever the company manufactures any new product and launches the same in the market for sale, the Agency shall undertake special advertisement campaign for the said new product in consultation with the company. 7.     The Agency will not act as Advertisement Agent of any company/person, who is manufacturing similar products and who are competitors of the company. 8.     The Agency shall observe the laws applicable and the rules or code of conduct of advertisers associations, association of newspapers or rules prescribed by television and radio. 9.     The Agency shall submit a weekly report to the company showing in detail the advertisements given regarding each of the said products separately and showing the dates, the timing or appearance of the advertisements, the names of newspapers/channel of TV given during the previous week. The report shall also accompany the cutting of newspapers/journals/magazines/clippings of T.V. Programme published/broadcast of the products. 10.  The Agency will not infringe any copyright of any person/company while displaying or publishing any advertisement of the company. 11.  The Agency shall indemnify and keep indemnified the company against any loss, claims, demands, actions, proceedings, damages, costs, charges and expenses which may be made or brought or commenced against the company for any act contrary to the provisions of this Agreement or due to or resulting from the breach of any agreement between the Agency and any newspaper/T.V. or any other person relating to the advertisement of the products of the company. 12.  The company shall indemnify and keep indemnified the Agency against any loss, claims, demands, actions, proceedings, losses, damages, costs, charges and expenses which may be made or brought or commenced against the Agency for the publication of any advertisement of the company, which has been prepared on the basis of the material furnished by the company. 13.  The company's budget for advertisement is Rs . ……………..crores per year, and the company agrees and undertakes that it shall get the advertising of its products done through the Agency. 14.  14. This agreement shall be for a period of one year from the date of these presents. However, any party may terminate this agreement before the period of one year by giving two months notice in advance to the other party. In case the Agency commits a breach of any covenant herein contained, the company is entitled to terminate the agreement by giving one week's notice. 15.  On the termination of the agreement, all the advertisement material in the possession of the Agency will be returned to the company forthwith and will not be used by the Agency for any other purpose or persons. 16.  The Agency shall submit bill to the company every month for the expenses incurred by it in advertising and the company shall pay the bill within a period of 10 days of the submission of the bill there for. The commission payable to the Agency shall be payable on the gross value of the work done or undertaken on behalf of the company and shall be paid along with the payment of bill of cost and expenses submitted by the Agency. 17.  The Agency shall also charge service tax on their bills at the rates applicable from time to time. 18.  The Agency shall advise the company of the most up to date, decent and profitable mode of advertisements at moderate 19.  The company shall Endeavour to keep the agency with sufficient funds to pay the expected charges for advertisement. 20.  All disputes between the parties hereto arising out of this Agreement or in relation thereto or regarding the interpretation of this Agreement, shall be referred to an arbitrator appointed by the Indian Council of Arbitration, New Delhi and the provisions of the Indian Arbitration and Conciliation Act, 1996 or any statutory modification thereof shall be applicable to such reference. IN WITNESS WHEREOF the parties hereto have signed this Agreement on the day and year first above written. WITNESSES 1 The Company For ………………… Ltd. (………………………) Director 2. The Agency For …………………. Agency (………………………) Partner Download Word Document In English. (Rs.15/-)

  • Appointment of Distributor for a District

    Appointment of Distributor for a District THIS AGREEMENT made at .......... on this ......... day of ......... 2000, between M/s ............ a partnership firm having its principal office at ......... (hereinafter referred to as "the principals", which expression shall unless repugnant to the context, be deemed to include the partners for the time being and from time to time constituting the said partnership firm, the survivor of them, the legal representatives, heirs, executors and administrators of such last survivor) of the ONE PART and M/s .......... proprietor Shri ....…………….. (here in after called "the distributor" which expression shall unless repugnant to the context, be deemed to include his heirs, administrators, executors, legal representatives, successors and assigns) of the OTHER PART. WHEREAS the Principals are the sole selling agents of ......... Ltd., for the whole of India and under the Agreement dated ........ executed between ......... Ltd. and the Principals, the Principals are entitled to appoint agents, distributors for marketing the products of ......... Ltd., hereinafter referred to as the company. WHEREAS the distributor of M/s. .................. has got a big showroom at ...... and has requested the Principals to appoint it as its distributor for marketing the company's products. WHEREAS the Principals have agreed to appoint M/s .......... as their distributor to sell the products of the company. Now It Is here by Agreed between the Parties as Under: 1.     The Principals appoint M/s.......... as the sole agent for the district of Agra for the purpose of promotion and sale of the company's products for a period of two years from the date hereof on the terms and conditions set forth hereunder. 2.     The distributor shall work conscientiously and in a business like manner for the promotion and sale of the products of the company. 3.     The distributor shall fix the retail price in consultation with the Principals from time to time and make the sale of the company's products against cash memos. 4.     The distributor shall maintain fifteen days stock of company's to products for sale at his own cost and shall not pledge the stock to bankers or other creditors without obtaining the prior consent from the Principals in writing. The Principals may grant consent for the pledge of the stock subject to terms and conditions and the distributor shall abide by such terms and conditions and bring the same to the notice of the bankers or creditors. 5.     The distributor shall not sell the goods directly or indirectly outside the agency district. The distributor while selling the company's products to persons in trade shall obtain undertaking in writing that the company's products shall not be re-sold outside the district agency and the said products shall not be re-sold to the public below the fixed retail price. 6.     The distributor shall be responsible for the rent and other expenses of the showroom and godown occupied by him for the purpose of agency business. He shall at his own expense keep insured the company's products for full value against all risks. The Principals may inspect the receipts for the rent, rates and taxes of the showroom and godown and for the premium of insurance policies. The Principals will not be liable or responsible for the expenses relating to or incidental to the said agency. 7.     The distributor shall make all sales on cash basis and shall keep record of all sales and shall remit the sum received by him to the Principals on each Saturday. The distributor may deduct the commission at the rate of .......... per cent, while remitting the sale proceeds. The distributor shall send weekly reports of the sales, net realisation, stock in hand, etc. to the Principals. 8.     The distributor shall be entitled to ......... per cent commission on the sale price of the products realised on the basis of accounts maintained by him. 9.     The products supplied by the Principals shall be the property of the Principals and they will be entitled to take possession of the said products at any time. The distributor shall maintain record of stock received by him, goods sold by him and the goods in stock in godown and showroom. The Principals have the right without prior notice to cause a stock checking of the company products supplied by them and if any shortage or deficiency is found on such. stock-checking, the distributor shall pay to the Principals the list price of such shortage or deficiency less the deduction by way of commission. 10.  The Principals will not sell the company's products to any person in the agency territory and will redirect all inquiries or orders for Principals products received by them from persons resident in agency district to the distributor. The distributor shall also refer to the Principals all enquiries or orders for the Principals products from the persons resident outside agency district and enquiries or orders from persons resident in the agency district for the purpose of re-sale outside the agency district. The distributor shall not be entitled to any commission on the sale resulting from such enquiries or orders. 11.  The rights under this agreement shall not be assigned or transferred to any other person, except with the prior permission of the Principals in writing. 12.  In the event of any dispute arising between the distributor and any customer regarding the purchase of company's products, the distributor shall inform the Principals immediately, who will advise the distributor the appropriate action which has to be taken by him in the matter. 13.  The distributor guarantees a minimum sale of the value of Rs. .......... per year. In case, the sale fails short by 25% or more for consecutive two years, the Principals may terminate this agreement. 14.  Any of the parties may terminate this agreement by serving a notice of three months to the other party. The accounts between the parties will be settled and adjusted finally within the aforesaid period of three months. 15.  In the expiry or earlier determination of this agreement, the distributor shall forthwith deliver to the Principals all the unsold stock of goods, all books of account and other documents of agency to the principals and shall pay to the principals for the shortage or deficiency of stocks at list prices less commission allowed to the distributor. 16.  In case any dispute arises between the parties out of or in connection with the agreement, the same shall be referred to the sole arbitration of an arbitrator, who may be appointed by the parties by mutual agreement. The proceedings held by the arbitrator in making the award will be in accordance with the provisions of Indian Arbitration and Conciliation Act, 1996 or any statutory modification thereof. The award of the arbitrator shall be final and binding on the parties. 17.  This agreement shall be executed in duplicate. The original it shall be retained by the Principals and the duplicate by the distributor. IN WITNESS WHEREOF the parties hereto have set their respective hands to these presents and the duplicate hereof on the date, month and year hereinabove written. Signed and delivered by  M/s..…………........ the within named Principals by their partners Signed and delivered by ……………………the within named Distributor by their proprietor Shri .......... WITNESSES; 1. 2. Download Word Document In English. (Rs.10/-)

  • Agreement between Manufacturer and Commission Agent

    Agreement between Manufacturer and Commission Agent This Agreement made on this ………………….. day of …………………. between Bande & Bande Ltd. (hereinafter referred to as the company ) having its registered office and factory at Mokamganj, Warle, Bombay , of the one part and Jai Jai & Sons (P.) Ltd., carrying on business at Chandni Chowk, Delhi ( hereinafter called the sole selling agents ) of the other part. Whereas 1.     The company is engaged in the manufacture of cotton and textiles polyester fibre yarn suitings and shirtings. 2.     The sole-selling agents are the whole-sale traders in suitings and shirtings and other textile goods in north India with headquarter at Delhi. 3.     The company in its general meeting held on……………has decided to appoint Jai Jai & Sons (P.) Ltd. as the sole-selling agents for northern India for whole-sale business of the company’s manufactured suitings and shirtings and the Central Government has also approved the appointment of the said sole-selling agents vide letter NO……………………..dated……………… 4.     It is agreed between the parties that the company shall appoint Jai Jai & Sons (P.)Ltd. as the sole selling agents for the suitings and shirtings manufactured by the company and the said Jai Jai & Sons (P.) Ltd, have agreed to act as the sole-selling agents for the company. Now this Agreement Witnesses as follows: 1.     That the company appoints Jai Jai & Sons (P.) Ltd, Delhi as the sole-selling agents for the North India including the States of J. & K., Haryana, Punjab, Bihar, Rajasthan, Uttar Pradesh, Union territory of Chandigarh and Delhi for the suitings and shirtings manufactured by the company and the said sole-selling agents will have the exclusive right and authority to sell whether in cash or on credit and procure the orders for sale of the said product of the company in any manner in the territories mentioned above. 2.     The appointment of sole-selling agents shall take effect from 1 st day of………….198……………..and shall operate for a period of five years from the said date without prejudice to the right of reappointment but subject to the approval by the Company in general meeting and also subject to the approval by the Central Government as required under section 294 of the Companies Act, 1956, and Rule 2 of the Companies (Appointment of Sole Agents) Rule, 1975. 3.     The sole-selling agents shall have the right to operate in the entire territories of North India as mentioned above either directly or through their branch offices, associates or sub-agents for giving effect to this agreement. 4.     The sole-selling agents in consideration their selling and procuring orders for the sale of the company’s products shall be paid a commission at a rate not exceeding 30% but determinable by the mutual agreement of the parties at the commencement of every year on sales effected by them at agreed intervals of time on the amount actually collected by them in accordance with the incentive rates on the amount collected, agreed to, and described in the Schedule hereinafter annexed. 5.     The sole-selling agents hereby covenant: i        That they will exclusively engage in the sale of the company’s products to the best of their efforts and shall not engage in the sale of similar or identical products of other manufactures. ii        That they will protect preserve and maintain patents and trade mark of the company’s products sold by them in all possible manner at their own cost and will never allow others to use the same unauthorisedly. iii        That they will keep and maintain the full and complete accounts of the sale of the company’s products, area-wise and region-wise and submit quarterly reports of sale, stock in hand, realisation of credit bills and any other information as may be desired by the company at any time or from time to time; iv        That they will not create any obligation involving payments either in cash or king on behalf of the company and shall not assign the interest, rights and obligations arising out of these presents to any third party; v        That they shall keep the company will informed of the demands of the company’s products arising in the territories of their operation from time to time. 6.     The company also hereby covenants as under : i        That it shall provide the sole-selling agents complete catalogue, instruction books, circulars for promoting sales of its products and publish advertisements in local and regional newspapers for promoting sales of the company’s products. ii        That it shall execute orders placed by the sole-selling agents with all reasonable despatch iii        That it shall not entertain and execute direct orders from the territories assigned to the sole-selling agents and in case any orders are received by it the same shall be passed on to the sole-selling agents and they will be paid commission 20% on such orders. 7.     The parties hereto hereby agree as under : i        That nothing contained herein shall prejudice the rights of the company to appoint another selling agents in any of the aforesaid States or to open its own retail shop in writing where it is found necessary to promote public distribution system or to execute any special programme of the Government of India. However, so the company shall obtain prior consent in writing of the sole-selling agents in that behalf. ii        That the retail price of the product shall always be determined by the company in consultation with the sole-selling agents. iii        That the agreement is renewable subject to mutual consent of the parties hereto on the expiry of five years. iv        That the agreement may be terminated by either party on giving six months, notice in advance to the other party in writing but by registered post. v        That any dispute arising between the parties hereto shall be referred to the sole arbitrator Shri……………….and the decision/award of such arbitrator shall be binding upon the parties hereto. vi        That the Delhi courts will have the sole and exclusive jurisdiction of decide the issues in dispute between the parties hereto. in Witness Whereof, Etc. Schedule Referred to Above. Download Word Document In English. (Rs.10/-)

  • PATIENT RIGHTS

    PATIENT RIGHTS Download Word Document In English. (Rs.20/-) Download PDF Document In Hindi. (Rs.20/-) As Medicare patients, you have rights that the federal government requires hospitals to observe. You should know about these rights and know what to do if a hospital does not observe them. WHAT IS REQUIRED UPON ADMISSION TO A HOSPITAL? The law requires that hospitals give a Discharge Procedure Information Form upon admission to all Medicare patients. This form: a. states that a patient's discharge date should be determined by medical needs and not byMedicare payments; b. informs the patient of his/her right to appeal discharge while in the hospital if thepatient feels he/she is being asked to leave the hospital too soon; c. gives information necessary to make this appeal. WHAT IS A NOTICE OF NON-COVERAGE? The hospital is required to give a denial notice if it is determined that a patient no longer requires inpatient care and the attending physician agrees. a. The denial notice does not mean you must leave the hospital. It only means thatMedicare will not continue coverage. b. The denial notice must be given to the patient and not to the patient's next of kin unlessthe patient is expected not to understand the notice. c. The denial notice must be in writing and must inform you of your right to appeal thehospital's determination. d. The patient can request that the Peer Review Organization (PRO) review the hospitaldecision. You cannot be made to pay for your hospital care until the PRO makes itsdecision. You must make your request to the PRO for a review by noon of the firstworking day after you receive the notice. You can do this by phone or in writing. e. If the Peer Review Organization upholds the hospital's decision, the patient is entitledto Reconsideration by the PRO if a written request is submitted within 60 days. f. The hospital may not charge you if you continue to stay unless a written denial notice is provided. WHAT IS DISCHARGE PLANNING? A Medicare patient has the right to a discharge plan or discharge planning services if it is likely that the patient will suffer adverse health consequences without such planning. a. The hospital must provide a discharge plan for patients identified above and for otherpatients upon request. b. The discharge plan must include provision for the patient's likely need for appropriatepost hospital services and the availability of those services. Post_hospital servicesinclude home health care. c. The discharge plan must be developed under the supervision of a registered nurse,social worker or other qualified personnel and discussed with the patient (or the patient'srepresentative). d. Only a physician can request that a discharge plan be developed and implemented,therefore it is important to discuss your discharge plan with your physician. HOW DO I PROTECT MY RIGHTS? Remember to read carefully all hospital documents that claim to explain your Medicare rights. Do not allow a relative or third person to sign any guarantee of payment to the hospital on your behalf. All documents should be given to you for your review. Question your doctors, nurses, social workers, and other health care providers about the care and service you will need after you leave the hospital. Request discharge planning services as early as possible. If you feel you are being asked to leave the hospital too soon it may help to complain to the hospital administration about the hospital's failure to provide adequate discharge planning. ASIDE FROM MY RIGHTS TO DISCHARGE PLANNING, DO I HAVE ANY OTHER RIGHTS AS A HOSPITAL PATIENT? Yes, whether you are a Medicare patient or not, everyone has some basic rights as hospital patients. Some of these rights include: a. The right to receive accurate and complete information regarding your diagnosis, treatment and prognosis. The information must be expressed in terms you can understand. b. The hospital must get your informed consent prior to any procedure or treatment youreceive. Informed consent means that you understand why a particular procedure ortreatment is being performed and that you are aware of and understand all possible risksand benefits associated with it. c. The right to refuse any treatments offered to you. If you decide to refuse treatment youmust be informed of the potential consequences and effects refusing treatment may have on your health. d. The right to request a second opinion from another physician. e. The right to leave the hospital against medical advice. You may leave the hospital atany time even if your doctor advises you to stay for a longer period of time. If you wishto leave against medical advice, however, you must receive information as to theconsequences and potential adverse effects of doing so. You will also be required to signa form relieving the hospital of liability if you do leave. f. The right to refuse to participate in research. Many hospitals are involved in researchprojects, especially university or teaching hospitals. Sometimes this research involvestreating patients with new or unconventional treatments or procedure. You are notrequired to participate in medical research and have a right to refuse to take part inmedical research. If you do chose to participate you must give informed consent and mayrefuse to continue to participate at any time. g. The right to have all information and records related to your care kept confidential.You also have the right to put limits on those persons who may visit you while you arehospitalized. h. The right to examine your hospital bill and receive an explanation of the charges. i. The right to make Advance Medical Directives and have your choices regarding medical treatment honored by the hospital staff. Upon admission, the hospital is required to ask you if you have made Advance Directives and if you have not must give you the opportunity to make them. An Advance Directive is a statement that makes your choices about medical treatment known in advance of an incapacitating illness. You may also name someone to make decisions for you should you become incapable of deciding for yourself. For more information about Advance Directives in Virginia contact the Legal Services branch near you to obtain a brochure on Advance Directives. If you feel that: a. You have been discharged from a Medicare hospital 1) too soon or 2) without thenecessary post hospital services having been arranged; OR b. Your rights as a hospital patient have been violated; you should contact the LegalServices branch office near you. The telephone numbers are listed below.

  • MORTGAGE BY DEPOSIT OF TITLE DEEDS

    MORTGAGE BY DEPOSIT OF TITLE DEEDS THIS EQUITABLE MORTGAGE is made the __________. day of __________, 20 __________, BETWEEN ……………………………………………………………………., aged __________    resi……………………………………………………………..…………………. of the one part aged ___________, resi………………………………………………………………………………... of the other part. WHEREAS the said ……………. has advanced to the said ……………. the sum of Rupees __________ (Rs __________________________________________) only, the receipt whereof the said ………………... has on various dates given to the said ……………….. NOW IN CONSIDERATION of such advances aggregating the aforesaid sum of Rupees __________ (Rs __________________________________________ ) only and for further securing the repayment thereof, on demand, with interest thereon, at the rate of __________% per annum from the date hereof the said ……………... has this day deposited with the said ……………, the deeds and documents pertaining to his title to the house No__________ on the __________ Road in the city of __________belonging absolutely to him and does hereby CHARGE the premises comprised in the said deeds and documents with the repayment of the said sum of Rs __________ (Rs __________) only with interest thereon at the rate of __________% per annum, such interest to be payable half-yearly on the __________ day of __________ and the __________ day of __________ each year. AND IT IS HEREBY AGREED AS FOLLOWS: 1. That should any interest remain unpaid for a period of more than six months from its accrual and/or after the expiry of the period specified herein the said ………………….. shall have the right to call in or enforce payment of the sums due under this mortgage. 2. That AA. shall repay the interest as stated above and on failure it shall be added to the principal and such principal shall in any case be repaid on or before the __________day of __________, 20 __________ 3. That the said ………………. shall on demand by the said …………... and at his cost execute a SIMPLE MORTGAGE of the property hereby mortgaged on the terms and conditions as to interest and manner of payment specified herein and such other conditions as may be imposed by ………………. IN WITNESS whereof, the said ……………... has hereto signed at ________ the day and the year first abovementioned. Witnesses: 1. Sd. …………………... Mortgagor. 2. SCHEDULE OF PROPERTY List of documents deposited with …………….. relating to the property comprising house No__________ on the __________ Road in the city of __________, bounded as below: East : West : South : North : 1. Sale deed, dated __________, executed by __________, in favour of __________, ……………, registered at __________ on __________ in Book I, Vol__________on __________ pages __________ to __________ as No_________ 2. Will, dated __________, executed by __________, ……………….. bequeathing the said property to ………………… (part of 3). 3. Probate of the said will issued on __________Case No__________ decided on __________, by the District Judge of __________ 4. Registry Certificate showing that no charge or mortgage has been created within 12 years of the date hereof over the property aforesaid. *MEMORANDUM: I, …………………, do hereby acknowledge to have this day received the above-listed deeds and documents and undertake to redeliver the same intact (damage by fire or other inevitable accident only excepted) to the said ………………... on receipt by me of the moneys secured by the equitable mortgage of even date. DATED this the __________day of __________¸20 __________ Sd. ……………………… Mortgagee. *Receipt of documents to be given by the Mortgagee to the Mortgagor. Download Word Document In English. (Rs.20/-)

  • Draft of Simple Mortgage Deed

    Draft of Simple Mortgage Deed This Deed of Mortgage made at ...................... this ................ day of ................... Between X, son of ............................... resident of ............................ hereinafter called as a mortgagor of the ONE PART and Y, son of ...................... resident of .................. hereinafter called as a mortgagee of the OTHER PART.WHEREAS, the mortgagor is absolutely seized and possessed of or otherwise well and sufficiently entitled to the house bearing municipal no................ situated on ........................ Road, ....................... more particularly described in the Schedule hereunder written;AND WHEREAS, the mortgagor has requested the mortgagee to lend him a sum of Rs. ........................ which the mortgagee has agreed on the mortgagor mortgaging his property.NOW ,This Deed Witnesseth That in pursuance to the said agreement and in consideration of the sum of Rs. .................. at or before the execution of these presents paid by the mortgagee to the mortgagor (the receipt whereof, the mortgagor doth hereby admit and acknowledge and of and from the same hereby release and discharge the mortgagee), the mortgagor hereby covenants with the mortgagee that he will pay on the ..................... day of ................. (hereinafter called "the said date"), the said sum of Rs. ................. with interest @ ........ % per annum from the date of these presents till the repayment of the said sum in full, every quarter the first instalment of interest to be paid on the ................... day of .......... 20___ and each subsequent instalment on the ................ day of July, October, January and April of each succeeding year until the said sum is repaid in full. AND this deed further WITNESSETH that In consideration aforesaid, the mortgagor doth hereby transfer by way of mortgage his house bearing municipal no ................. situated on .............. Road . ...................... and more particularly described in the Schedule hereunder written as a security for repayment of the said sum with interest @ ................ per annum with the condition that the mortgagor, his heirs, executors, administrators or assigns shall on the said the pay to the mortgagee, his heirs, executors, administrators or assigns the said sum of Rs .............. together with interest thereon at the rate mentioned above, the said mortgagee, his heirs, executors, administrators, or assigns shall at any time thereafter upon the request and at the cost of the mortgagor, his heirs, executors, administrators or assigns reconvey the said house, hereinbefore expressed to be mortgaged unto or to the use of the mortgagor, his heirs, executors, administrators or assigns or as he or they shall direct.And It Is Hereby Agreed And Declared that if the mortgagor does not pay the said mortgage amount with interest when shall become due and payable under these presents, the mortgagee shall be entitled to sell the said house through any competent court and to realise and receive the said mortgage amount and interest, out of the sale proceeds of the house.And It Is Further Agreed And Declared by the mortgagor that during the period, the mortgage amount is not paid and the said house remains as a security for the mortgage amount, the mortgagor shall insure the said house and take out an insurance policy in the joint names of the mortgagor and mortgagee and continue the said policy in full force and effect by paying premium and in case of default by the mortgagor to insure or to keep the insurance policy in full force and effect, the mortgagee can insure the said house and the premium paid by the mortgagee will be added to the mortgage amount, if not paid by the mortgagor on demand.And It Is Further Agreed That the mortgagor can grant lease of the said house with the consent of the mortgagee in writing.And It Is Further Agreed by the Mortgagor that he shall bear stamp duty, registration charges and other out of pocket expenses for the execution and registration of this deed and reconveyance deed but however each party will bear cost and professional charges of his Solicitor/Advocate.IN WITNESS WHEREOF the parties have put their hands the day and year first hereunder written.The Schedule above referred toSigned and delivered by X the within named mortgagorSigned and delivered by Y the within named mortgageeWITNESSES;1.2 Documents Required No specific documents are required in order to draft and execute a mortgage deed. However, ID proofs of the parties in order to confirm the names and permanent addresses of the mortgagor and mortgagee should be scrutinised. Documents evidencing clear title of the property of the mortgagor in question should also be examined. These documents include PAN card, Aadhaar card, passport, property documents, Voter ID card, Driving license, etc.  Procedure A simple mortgage deed for an immovable property shall be drafted with the help of a lawyer. There are several legalities and clauses that must be included in your mortgage deed so as to avoid future legal troubles. A mortgage deed must be registered in accordance with the prevalent laws, otherwise such transfer would be rendered as invalid. No set procedure is applicable in the making of a simple mortgage deed. However, once the contract has been drafted by a lawyer, it should be specifically and carefully read by both the parties to the transaction. Any necessary changes required to be made shall be carried out and once the agreement is finalised, it shall be signed by both the parties along with the requisite witnesses. The said agreement has evidentiary value when it is printed on stamp paper and signed by both the parties. The stamp paper value (if relevant) depends on the particular State in which it is executed. Each party should thereafter keep a signed copy of this mortgage deed. Legal Considerations A mortgage deed should be properly stamped and duly registered to have legal/evidentiary validity. A simple mortgage deed must be signed, registered and attested by at least 2 witnesses. If these steps are excluded, it is equivalent to not having an agreement/deed in the first place. The kind of attestation and registration required, depend upon the kind of mortgage. Nominal stamp duty must also be paid - depending upon the State in which the property is located in.  Download Word Document In English. (Rs.20/-) Download PDF Document In Marathi. (Rs.20/)

  • DEED CREATING CHARGE

    DEED CREATING CHARGE  This Agreement made on this ____ day of ____________  Between  …………………………………………… Resi……………….. ……………………….  hereinafter called "the Borrower" (which expression shall unless contrary to the context including his related successors, executors, administrators and assigns) of the one part  And ………………………………………… Resi……………………………….. hereinafter called "the Lender" (which expression shall unless contrary to the context including his related successors, executors, administrators and assigns) of the other part Whereas the Borrower wants to borrow a sum of Rs.__________(Rupees _________________________________) from the Lender and the Lender has consented in granting him the loan of Rs.___________ at interest @ ___ % annually and on the condition that repaying the said sum with interest shall be secured by creating a charge, favouring the Lender, on the property bearing no.___________ _________ located at (more specifically stated in Schedule annexed hereto) belonging to the Borrower.  Now This Deed Witnesses as Under:  1. In consideration of the Lender granting a loan of Rs.________ (Rupees _______________________________ only) to the Borrower (which receipt is acknowledged by the Borrower), the Borrower hereby himself promises to repay the said loan of Rs. __________ with interest @ on or before the ____ day of ____________.  2. That as a security for the said loan, the Borrower hereby declares that the property stated in the schedule hereto shall be henceforth be charged with the payment of the said loan of Rs. ________ with interest hereinbefore consented to be paid.  3. It is consented between the parties hereto that if the Borrower do not repay the said loan with interest on or before the day hereinbefore stated, the Lender shall have a right in enforcing the charge by selling the said property through court of law and in recovering the amount due to him out of the sale proceeds.  In Witness Whereof, the parties hereunto have signed below this day ________ of _________.  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

  • PARTNERSHIP DEED

    PARTNERSHIP DEED THIS DEED OF PARTNERSHIP is executed at New Delhi on this 20th day of January,2004 BETWEEN Sh. X S/o _____ R/o____, hereinafter called „THE FIRST PARTY‟ which expression shall mean and include his heirs, successors, executors and legal representatives. AND Sh. Y S/o Sh. ____ R/o ______, hereinafter called „THE SECOND PARTY‟ which expression shall mean and include his heirs, successors, executors and legal representatives. WHEREAS the First Party is in occupation as a tenant of property measuring 1000 sq. ft. on the ground floor bearing No. E-1 Ram Nagar, Delhi. AND WHEREAS the First Party is desirous of carrying on the business of interior decoration and the Second Party, being experienced in this trade, has approached the First Party to run this business with him jointly in partnership. AND WHEREAS the parties have agreed to commence and run the business of interior decoration, furnishing, manufacture and sale of furnishing, manufacture and sale of furniture, soft furnishing and accessories in partnership. NOW, THEREFORE, THIS DEED WITNESSES AS UNDER: 1. The name and style of the this partnership business shall be M/s XYZ 2. The business of this partnership shall be considered to have commenced on 20th day of January, 2004 3. That the principal place of business of this partnership shall be at . E-1 Ram nagar, Delhi. However, the same may be shifted or carried on elsewhere as well with the mutual consent of both the parties from time to time. 4. That the business of the partnership shall be interior decoration, furnishing, manufacture and sale of furniture, soft furnishing and accessories. However, the parties will also be entitled to extend their activities into business or manufacturing of any other item as well. 5. The shares of the parties in the profits and losses shall be as follows : i) First Party – 51%ii)Second Party – 49% 6. The initial capital has been contributed by both the parties by investing a sum of Rs. 15,000/- each. If and when more funds are required for the business, the partners shall invest the same. However, any capital investment of the partners shall not carry any interest. In case loans or deposits are raised from outside i.e. friends and relations of the partner or the financial institutions then only those loans or deposits, which are taken with the written consent of both the partners and are entered in the books of accounts of the partnership, shall be binding on the firm. The partnership shall maintain regular books of accounts in accordance with the customs of trade and all dealings of the partnership shall be duly recorded in the same. The account books etc. shall be maintained in the place of business at . E-1 Ram Nagar, Delhi. 7. Each of the partners shall be entitled to withdraw a sum of Rs. 2000/- every month which shall be adjustable in the final profit and loss account to be prepared every year. 8. The First Party shall also be entitled to withdraw a sum of Rs. 5000/- per month towards the rent he is paying to the Landlord in respect of the portion of property No.E-1 Ram Nagar, Delhi 9. The tenancy rights in respect of property No. . E-1 Ram Nagar, Delhi shall always vest in the First Party and whenever the partnership is dissolved for any reason whatsoever, the Second Party shall not be entitled to any right, title or interest in the same. 10. That the partnership shall maintain proper books of accounts in the normal course of business at the principal place of its business and the same shall always be open for inspection to the partners. 11. That the first accounting period of the partnership shall close on 31 st March, 2005 and thereafter the financial year, shall run from 1 April every year to 31 March of the subsequent of the English calendar. 12. That the bank accounts of the partnership and / or its branches shall be operated under the signatures of any of the partners. 13. That at the close of the accounting period / year, a trial balance, profit and loss account and balance-sheet etc. shall be prepared and the profit and loss in the ration enumerated above shall be credited / debited to the capital account of the partners. 14. That either of the parties would not be entitled to carry on similar or competitive trade individually or in partnership and in any other manner. 15. The partnership shall be at Will. However, whenever any party intends to dissolve the same or retire from the same, he shall give an advance notice of 15 days to the other party and during the period of notice, profit and loss account, balance sheets shall be completed to finalize the accounts in between as partiers as well as with the outsiders. 16. That in the event of any dispute arising between the partnership with respect to any clause of this document or the working of the partnership or for anything indicated thereof, the same shall be decided by arbitration in accordance with the provisions of the Arbitration Act and by no other process. 17. That in all other matters not provided herein, the partnership shall be governed by the Indian Partnership Act as applicable from time to time. IN WITNESS WHEREOF the parties have signed this document on the date first above written in presence of the following witnesses. FIRST PARTY SECOND PARTY WITNESSES (1) (2) Download Word Document In English. (Rs.25/-)

  • SIMPLE MORTGAGE BY THE MANAGER OF THE JOINT FAMILY PROPERTY

    SIMPLE MORTGAGE BY THE MANAGER OF THE JOINT FAMILY PROPERTY This Deed of Mortgage made on this ___________ day of ____________ Between Mr………………………………… age………………… resi ________________ Mr………………………………… age________________ resi ________________ And Mr………………………………… .age __________________ Resi…………………………………. acting through Sh. _______________________, Manager of Joint Hindu Family hereinafter called "the Mortgagor" (which expression shall unless contrary to the context including their related successors, executors, administrators and assigns) of the one part And Mr……………………………….. age…………………………. Resi……………………………… hereinafter called "the Mortgagee" (which expression shall unless contrary to the context including his related successors, executors, administrators and assigns) of the other part. Whereas (1) The Mortgagor and his two sons namely, Sh. ________ and Sh.________ form a Joint Hindu family which is ruled by the Mitakshara School of Hindu Law. (2) The plot of land bearing no. _______________ located at __________ being joint ancestral property of the said family (more specifically stated in the schedule I hereof, "the property"); (3) The Mortgagor has been doing the business of __________ and wants borrow a sum of Rs._________ (Rupees ____________ ) from the Mortgagee for doing business with other family requirements (type and nature of requirements) and the Mortgagee has consented in lending said sum on interest @ ___ % annually per condition that repaying the said sum with interest shall be secured by the mortgage of the property. Now This Deed Witnesseth as Under: 1. In consideration of the sum of Rs._________ as borrowed by Mortgagor from Mortgagee (which receipt the Mortgagor hereby acknowledges) the Mortgagor hereby agrees with the Mortgagee that the Mortgagor will be paying to Mortgagee the said sum of Rs. _________ in _____ half–yearly/quarterly/monthly installments, first installment falling due on ________ the day of ___________ with an interest @ __ % per annum from the date of this deed till time the said sum is fully repaid (hereinafter called "the mortgage money"). 2. That as security for the above loan, Mortgagor hereby transfer, per simple mortgage, to the Mortgagee All property stated in the schedule annexed hereto (hereinafter called "the mortgaged property") intended that if payment of the mortgage money is defaulted hereunder, the Mortgagee shall bear a right in causing the mortgaged property to be sold and its sale proceeds be applied in paying the mortgage money. 3. The Mortgagor also agrees with the Mortgagee that the mortgaged property being joint ancestral property of the family being free from all encumbrances /charge. 4. The Mortgagor shall bear a right, prior the sum becomes due under this deed, for paying to the Mortgagee any sum of not less than Rs. _______, due to the sum secured under this deed. all sum so paid shall be applied per order as below: (i) in reduction or paying the interest /costs then due per terms of this deed (ii) in reduction or paying the principal money secured under this deed. 5. The Parties as consent that cost of registration of this deed stamp duty with other misc. expenses shall be borne by the Mortgagor. In Witness Whereof, the parties hereunto have hereunder signed this day _________ of __________. (The schedule hereinabove referred to) Download Word Document In English. (Rs.15/-)

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