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RELEASE BETWEEN TWO PARTNERS  ON DISSOLUTION OF PARTNERSHIP  THIS RELEASE is made the ________ day of ________ 20 ________,  BETWEEN AA., aged _____________, etc.(hereinafter called 荘the First Party鋳) of the one part  AND BB., aged __________________, etc. (hereinafter called 荘the Second Party鋳) of the other part.  WHEREAS the said AA. and BB. were carrying on in partnership the business of __________________________________ and the said business was wound up and the partnership dissolved by deed, dated ___________________, executed by the said partners.  AND WHEREAS the winding up of the said business was entrusted to the arbitration of CC. of ________ _________________________________and he after releasing the debts and calling in the property and assets of the said business and after paying all creditors and liquidating all the liabilities apportioned the shares of the parties, giving to the said AA. a sum of Rs _______________ and to the said BB the sum of Rs ________.  AND WHEREAS the parties for mutual safety are desirous of executing this deed of release so that all future disputes in regard to the said partnership or the business may be set at rest.  NOW THEREFORE THIS DEED WITNESSES that in pursuance of the said mutual desire the said AA. hereby releases the said BB. and also that the said BB. hereby releases the said AA. from all sums of money, accounts, proceedings, claims and demands whatsoever which either of them at any time had or has up to the date of the said dissolution against the other, in respect of or in relation to the said partnership or the business of the said partnership.  IN WITNESS whereof the said AA. and the said BB. have hereto at ______________________. signed the day and the year first abovementioned.  Witness:  Sd. AA.  Sd. BB.  Download Word Document In English. (Rs.5/-) Download PDF Document In Marathi. (Rs.5/-)

RELEASE DEED BY THE SUCCESSORS  OF THE EXPIRED PARTNER OF A FIRM  THIS DEED OF RELEASE is executed on the _______ day of ________ BETWEEN Sh.______________________________________, S/o Late Sh._________________________________, R/o __________________________________ of the first part;  AND Sh.__________________________________________  S/o Sh.________________________________________, R/o _______________________________________ of the second part; AND Sh.__________________________________________,  S/o Sh.______________________________________, R/o ______________________________________ of the third part; All three hereinafter collectedly referring to as parties and individually as the first party, second party and third party respectively, which expression shall include their related lawful successors, heirs, representatives and assigns.  WHEREAS 1. The father of first party was doing the business of ___________________ in partnership under the deed of partnership dated the ______ day of ______ under the name of firm as ________________ with the second party and third party respectively.  2. The father of the first party a partner with the said firm died on the __________________.henceforth the remaining partners of the firm decided the outstanding of Late Mr._________________________ and dues were paid to the first party as lawful successors to Late Mr. ____________________. NOW HENCE THESE PRESENTS WITNESSETH that the first party individually and the second and third party collectively, does and do hereby relinquish the other of them from all amounts, accounts, proceeding, claims and demands whatever which either of them at any time had or having to the date hereof against others or either of the others of them for or by reasoning and concerning the partnership heretofore held by the parties.  IN WITNESS WHERE OF, the parties to this deed have set their hands in the presence of __________________ Party of the first part  __________________ Party of the second part  Witnesses:  1.  2.  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

RELEASE BY ONE LEGATEE IN FAVOUR OF ANOTHER  This indenture made on the _______day of _______20 _______. Between AA, husband of YZ. (deceased), of __________________.of the one part;  And BB. of _______________________________________, the only child of the said AA. and YZ of the other part: WHEREAS the said YZ. duly made and executed her will dated the _______.day of _______20 _______and thereby bequeathed a cash sum of Rs _______.(in words, rupees ________) to the said AA. and BB. in equal moieties, and the said testator thereby appointed the said AA. the executor of her said will; AND WHEREAS the said YZ. died on the _______day of _______20 _______without having revoked or altered her said will and the same was duly proved on the _______day of _______20 _______, in the High Court of Judicature at __________________________by the said AA.; AND WHEREAS the share of the said AA. in the said estate, after the payment of all funeral and other expenses of the said YZ, comes to Rs _________(in words, rupees ______________________________________); AND WHEREAS the said AA. is desirous of releasing his said share in favour of the said BB: NOW THIS INSTRUMENT WITNESSES that in pursuance of the said desire and in consideration of natural love and affection for the said BB. and for diverse other good causes and considerations he, the said AA., does hereby release to the said BB. all his claim, demand, right, title and interest to and in the said share or any part thereof: To hold the same to the said BB. absolutely and forever. IN WITNESS WHEREOF the parties hereto have executed this instrument on the date first hereinbefore mentioned. Witnesses: 1 _______.  First Party  2 _______.  Second Party  Download Word Document In English. (Rs.5/-) Download PDF Document In Marathi. (Rs.5/-)

RELEASE BY A SEPARATED COPARCENER  THIS RELEASE is made the ________ day of ________, 20 ______ BETWEEN AA., aged.___________ years, son of ________________________________________, acting for himself and as Karta of a joint Hindu family consisting of himself and his sons, namely, __________________________ and ________. presently residing at No_________________________________________ Road in the city of ________ hereinafter referred to as the 荘Release鋳 of the one part, AND BB, aged ________. years, separated son of the said AA., presently residing at No__________________________________ Road ________ in the said city of ________ hereinafter referred to as the 荘Releasor鋳 of the other part. WHEREAS the said AA. and his brother CC carried on a joint family business at various places in the cities of ________. and ________under the name and style of ________. AND WHEREAS the said CC. died leaving two sons who did not desire to continue in the said business and desired to be separated from the joint family business and also desired a partition of the joint family property. In pursuance of the said wishes of the sons of CC. and with the consent of AA. the matter was referred to the sole arbitration of Shri ______________________________ of ________________, who by his award, dated ______________, duly registered the same day at the Sub-Registry Office of _____________________________________________________, divided the entire property of the joint family including the said business and allotted to AA., the entire business of ____________________________, carried on in the cities aforementioned, and over which proprietary possession was given to AA., who has from the said date to the date hereof managed, possessed and enjoyed the said business as a business of his branch of the family alone; AND WHEREAS the said BB. on the ______________________________ by notice to AA, demanded separation and was, after taking accounts and valuation of all the property of the joint family allotted the business of the firm carried on in the city of _____________________________ and has established himself separately and independently of his father and his brothers. AND WHEREAS it is necessary to safeguard the future interest of the parties and their representatives after them and in order to end all possible claims which the parties or their representatives after them may have or hereafter put forward in respect of the separated shares and properties of the said parties in the belief that such claims do in reality exist;  NOW THIS DEED WITNESSES that in pursuance of the fact that the Releaser is separated and has duly and fully received his share of all the joint family property, including his share in the family business from the said Release and in pursuance of the fact that he, the said Releaser, has no claim interest or title on the Release or his property the said Releaser hereby releases unto the Release and to such other members mentioned above as are joint with him, and to their respective representatives for ever, all rights, titles and obligations in present or in future which the said Releaser may have had or has in or upon the remaining joint family or the property of the said joint family now in existence or which may hereafter be acquired by the Release or the family;  AND the said Release for himself and as Karta of his joint family mentioned above hereby releases the said Releaser from all rights, titles and obligations which the said remaining joint family or the said AA. may have had or have in or upon the said Releaser or his representatives and his or their property now existing or which he or they may hereafter acquire.  It is also mutually agreed that the value of the property hereby affected for the purpose of stamp duty is of the value of Rs ________. or thereabout.  IN WITNESS whereof the said AA. for himself and as Karta of his joint family and the said BB. have hereto signed at ________, the day and the year first abovementioned.  Witness: Sd. AA  Releasee. Sd. BB.  Releasor.  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

MUTUAL RELEASE BY TWO PARTNERS  ON ENDING OF PARTNERSHIP  THIS RELEASE DEED is executed on the _______ day of ________  BETWEEN Sh. __________________________________________,  S/o Sh. __________________________________________, R/o __________________________________________ of the first part;  AND Sh. _______________________________________,  S/o Sh. _______________________________________,  R/o__________________________________________ of the second part;  both parties hereinafter collectedly referring as parties with individually as first party, and second party respectively, which expression shall be including their related lawful successors, heirs, representatives and assigns.  WHEREAS 1. The aforesaid parties were doing the business of ____________________ per partnership under the deed of partnership dated the ______ day of ______ under the firm name of _______. 2. The aforesaid parties, by mutual agreement have, ended the said partnership, with effect from ______. NOW T HENCE THESE PRESENTS WITNESSETH that each party hereby releases the other party, from all sums of money, accounts, proceedings, claims/demands whatever which either of them had previously at any time had for any reason concerning the partnership as held before hand by the parties. It is also declared that amount or value of the claim hereby disclaimed is Rs. _____________. IN WITNESS WHERE OF, the parties to this deed have set their hands in the presence of ______________________ Party of the first part  ______________________ Party of the second part  Witnesses:  1.  2.  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

RELEASE ON RECONSTITUTION  IN FAVOUR OF RETIRING PARTNER  Deed of release made on the _______day of the month of _______of the year two thousand_________________________by Messrs __________________________________, a firm of partners registered under the Indian Partnership Act, having its principal place of business at ______________________________________________(hereinafter called the 荘First Party鋳 which expression shall unless there be anything contrary thereto in the context include their successors, representatives and assigns) of the one part;  And __________________________________, son of ____________________________________, resident of ________________________________________________________, (hereinafter called 荘the Second Party鋳 which expression shall unless there be anything contrary thereto in the context include their successors, representatives and assigns) of the second part. WHEREAS the First Party had purchased certain lands in ____________.of ____________, District _________________________, fully described in the Schedule herein below, from _______ and _______, both of them sons of ___________________________________and residents of __________________________________by two separate sale deeds dated ___________and _______, registered at Nos_______ and _______in Book No_______, Volume _______, at pages _______to _______and to _______ respectively, on the _______ with Sub-Registrar _______; and WHEREAS the said purchases having been made by the First Party benami in the names of  Shri _________________________________and Shri___________________________ _______the said two sale deeds respectively, the said Shri _____________________________________.and  Shri _________________________________________________thereafter released the lands in favour of the First Party by two separate deeds of release dated ____________and registered in Book No_______., Volume _______, pages _______to _______.at _______No_______. and Volume _______, pages _______.to _______.at No_______on _______and _______., respectively; and WHEREAS the First Party had constructed on the said lands substantial buildings and fitted and equipped them, which are also described in the Schedule herein below, and the partners of the First Party firm used to be the co-owners in possession of the entire premises; and WHEREAS the Second Party used to be a partner/partners of the First Party firm up to _______and was/were/one of/the co-owners of the said premises along with the other partners of the First Party firm; on and with effect from which date the Second Party withdrew from the First Party firm and ceased to be partner/partners thereof, and the First Party firm was reconstituted on and from that date; and  WHEREAS on adjustment of accounts between the Second Party and the continuing partners of the First Party firm the aforesaid premises fell to the share of the Second Party and as from the said date ___________________________the Second Party became, and is/are continuing as the exclusive owner/owners in possession of the said premises, and the continuing partners of the First Party firm relinquished in the Second Party痴 favour and ceased to have any right, title or interest therein; and WHEREAS it is necessary to bring the said fact on record so that there may not be any doubt or dispute in future.  NOW, THEREFORE, THIS INSTRUMENT WITNESSES:  1. That the First Party have released and relinquished in favour of the Second Party all their rights, titles and interests in all that premises including the land, buildings, fixtures, fittings, etc., described in the Schedule herein below, to have and hold the same absolutely as owners of the land and of all the buildings and fixtures and fittings standing thereon; And the First Party do hereby declare that the said premises are and have been with effect from ______________________the exclusive property of the Second Party who is/are since that date absolutely entitled thereto. 2. That the First Party does hereby declare that the Second Party is/are entitled to have his/their name/names mutated as owner/owners of the lands and buildings released as aforesaid; And further, the First Party will do every such assurance or thing for further or more perfectly assuring the property released to the Second Party, as may be reasonably required. SCHEDULE Description of the Property Released  In witness whereof the parties hereto have executed this instrument on the date first hereinbefore mentioned. Witnesses: 1_______. First Party  2_______.  Second Party  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

RELEASE FROM OBLIGATIONS  CONTAINED IN A CONTRACT  THIS DEED OF RELEASE is executed on the _______ day of ________ BETWEEN M/s__________________________________, a company incorporated under the Companies Act, 1956 and with its registered office at ___________________________________ of the first part; AND M/s_____________________________________________, a company incorporated under the Companies Act, 1956 and with its registered office ___________________ of the second part; Both parties hereinafter collectedly referring to as parties and individually as the first party, and second party respectively, which expression shall be including their related lawful representatives, heirs, and assigns. WHEREAS 1. The parties had on the _____ day of _____ executed distributorship agreement for distribution of the goods more specifically given in the agreement. 2. As per clause ___ of the agreement, the second party was under an obligation to do the following acts: i. ___________  ii. ___________  iii. __________  iv. ___________  3. Owing to some alteration of the business plans of the first party, they have now consented to release the second party from the obligations stated in sub clauses ii & iii above. NOW THIS DEED WITNESSES as follows:  1. The first party hereby relinquishes the second party from so much of its obligation under the aforesaid covenant dated the _____ day of _____ relating to the sub clauses ii & iii above. 2. The parties hereto hereby consent that the remaining obligations under the aforesaid covenant dated the ___ day of ____ shall continue binding and fully effective. IN WITNESS WHERE OF, the parties to this deed have scribed their hands on the day and year above mentioned. ______________ FIRST PARTY  ______________ SECOND PARTY  Witnesses:  1.  2.  Download Word Document In English. (Rs.10/-) Download PDF Document In Marathi. (Rs.10/-)

RELEASE ON RECONSTITUTION IN  FAVOUR OF RETIRING PARTNER  Deed of release made on the _______day of the month of _______of the year two thousand_______by Messrs ___________________________________________, a firm of partners registered under the Indian Partnership Act, having its principal place of business at ___________________________(hereinafter called the 荘FirstParty鋳 which expression shall unless there be anything contrary thereto in the context include their successors, representatives and assigns) of the one part;  And ______________________________________, son of_______________________ _______, resident of _________________________________________________, (hereinafter called 荘the Second Party鋳 which expression shall unless there be anything contrary thereto in the context include their successors, representatives and assigns) of the second part. WHEREAS the First Party had purchased certain lands in ______________________.of _______, District ________________________, fully described in the Schedule herein below, from _______ and ________________, both of them sons of _______and residents of ______________________________by two separate sale deeds dated _______and _______, registered at Nos_______ and _______in Book No_______, Volume _______, at pages _______to _______and to _______ respectively, on the _______ with Sub-Registrar _______; and WHEREAS the said purchases having been made by the First Party benami in the names of Shri _______and Shri _______the said two sale deeds respectively, the said Shri ______________________.and Shri _______thereafter released the lands in favour of the First Party by two separate deeds of release dated _______and registered in Book No_______., Volume _______, pages _______to _______.at _______No_______. and Volume _______, pages _______.to _______.at No_______on _______and _______., respectively; and WHEREAS the First Party had constructed on the said lands substantial buildings and fitted and equipped them, which are also described in the Schedule herein below, and the partners of the First Party firm used to be the co-owners in possession of the entire premises; and WHEREAS the Second Party used to be a partner/partners of the First Party firm up to ____________________and was/were/one of/the co-owners of the said premises along with the other partners of the First Party firm; on and with effect from which date the Second Party withdrew from the First Party firm and ceased to be partner/partners thereof, and the First Party firm was reconstituted on and from that date; and WHEREAS on adjustment of accounts between the Second Party and the continuing partners of the First Party firm the aforesaid premises fell to the share of the Second Party and as from the said date ____________the Second Party became, and is/are continuing as the exclusive owner/owners in possession of the said premises, and the continuing partners of the First Party firm relinquished in the Second Party痴favour and ceased to have any right, title or interest therein; and WHEREAS it is necessary to bring the said fact on record so that there may not be any doubt or dispute in future.  NOW, THEREFORE, THIS INSTRUMENT WITNESSES:  1. That the First Party have released and relinquished in favour of the Second Party all their rights, titles and interests in all that premises including the land, buildings, fixtures, fittings, etc., described in the Schedule herein below, to have and hold the same absolutely as owners of the land and of all the buildings and fixtures and fittings standing thereon; And the First Party do hereby declare that the said premises are and have been with effect from ____________the exclusive property of the Second Party who is/are since that date absolutely entitled thereto. 2. That the First Party does hereby declare that the Second Party is/are entitled to have his/their name/names mutated as owner/owners of the lands and buildings released as aforesaid; And further, the First Party will do every such assurance or thing for further or more perfectly assuring the property released to the Second Party, as may be reasonably required. SCHEDULE Description of the Property Released In witness whereof the parties hereto have executed this instrument on the date first hereinbefore mentioned.  Witnesses:  1_______. First Party  2_______. Second Party  Download Word Document In English. (Rs.10/-)

RELINQUISHMENT DEED BY A MEMBER  OF A HINDU UNDIVIDED FAMILY  THIS DEED OF RELINQUISHMENT is executed on the _______ day of ________ BETWEEN Sh. _____________________________________________________, S/o Sh. ___________________________________________________, R/o______________________________________________________ of the first part; AND Sh. _______________________________________________________,  S/o Sh. ______________________________________________________, R/o __________________________________________________________ and Sh. _______________________________________________________ S/o Sh.__________ _______________________________________________ R/o ________________________________________________________ of the second part; Both parties after it collectedly referring as parties and individually as the first party and the second party respectively, which expression shall be including their related lawful successors, heirs, representatives and assigns.  WHEREAS 1. The parties constitute a Joint Hindu Family. The first party does not want to continue an wants to separate all relationship with the joint family.  2. For evading unnecessary controversy and keep peace, the second party has agreed to the demand of first party and parties have adjudged in reaching an amicable settlement, which is fair and just to both parties. All the property of the Joint Hindu Family is shown in the Annexure A to this deed, which is valuing at approximately Rs. ____________.  3. It has been consented between the parties that the first party shall release all his claims and share in Joint Hindu Family property against a consideration of Rs. ______ as paid by the second party. NOW HENCE THESE PRESENTS WITNESSETH as follows:  1. That for a consideration of Rs. __________________ (receipt of which as acknowledged by first party) the first party so relinquishes all his claims, interest, rights and demand in the Joint Hindu Family property. 2. The first party hereby also consents that after the date of this relinquishment deed, first party shall have no interest or share in the Joint Hindu Family property.  3. The first party hereby declares that in per consideration of sum received above by him per his share in the Joint Hindu Family property, the first party has, from the date of this covenant, cut all his relationship from the second party and from the joint family. The first party also declares that from the date of this covenant, he has relinquished and discharged the second party and with all members of Joint Hindu Family from any/all obligations for partitioning Joint Hindu Family property with him at any time falling after the date of execution of this agreement.  4. The second party confirms and declares that the first party has ceased being a member of Joint Hindu family and he shall have nil interest, title or claim concerning the property belonging to the joint Hindu family, from the date of this covenant.  5. This deed has been affected by mutual agreement of the parties. Any party is not empowered to assail it on any reasons, whatsoever.  6. The second party shall keep the original deed. A true copy signed by both the parties shall be kept by first party and which true copy will be considered as effective as the original deed for all purposes and intents. IN WITNESS WHERE OF, the parties to this deed have set their hands in the presence of ______________________ Party of the first part  ______________________ Party of the second part  Witnesses:  1.  2.  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

DEED OF REMUNCIATION OF TITLE BY A BENAMIDAR  THIS DEED OF DISCLAIMER is executed by me, ______________________,  S/o Sh. ___________________________________,  R/o________________________________________ on this _____ day of ________. WHEREAS I am construed being owner of property bearing no. _______________ located at ___________________________________________ (more specifically stated in Schedule annexed hereto) which was purchased by me in my name on the ______ day of ______ from Sh. ___________________________,  S/o__________________________________________,  R/o_______________________________________________ vide sale deed dated _________ registered in ____________________________________________ in the office of the sub-registrar _______________ AND WHEREAS having to the circumstances prevailing it is compulsory that the real ownership of the said property be clarified and removed all doubts.  NOW THEREFORE BE IT KNOWN TO ALL that the said property was purchased by me at the instance of  and with the money given to me by Sh. ______________________________,  S/o Sh. ______________________________________________________,  R/o____________________________________________________________. The said property as has been bought by me for and on behalf of Sh. ______, hence, belongs to him and not to me and I hereby enunciate all my rights in and title to the said property.  IN WITNESS WHERE OF, I have signed this deed of disclaimer on the _________ day of _________ 200 . Signed by _______________  Witnesses:  1.  2.  Download Word Document In English. (Rs.5/-) Download PDF Document In Marathi. (Rs.5/-)

COMPOSITION DEED WITH CREDITORS  This Deed of Composition is made on this __________ day of __________/……………………                                                Between MR……………………………………………………….………,  S/O…………………………………………………………….…,,  RESI…………………………………………………………………… (hereinafter called "the Debtor" which expression shall unless contrary to the context include his successors, legal representative and assigns) of the first part;                                                 And MR……………………………………………………………….…, S/O…………………………………..______...............__,,  RESI…………………………………………….________________ (hereinafter called "the Trustee" which expression shall unless contrary to the context include his successors, legal representative and assigns) of the second part;  And All the several persons, firms and companies, being the Creditors of the Debtor, whose names and seal signed and affixed hereunder and the amount of debt owed to them is given in Annexure A to this document (hereinafter called "the Creditors" which expression shall unless contrary to the context include their successors, legal representative, hairs and assigns as the case may be) of the third part: Whereas 1. The Debtor is indebted to the Creditors to amounts as given in Annexure A hereto. 2. The Debtor is unable to pay the Creditors their debts in full and hence has proposed to pay to the Trustee a sum of Rs.______________ to be distributed among the Creditors in proportion to their debts respectively and that such sum may be received by the Creditors in full discharge of their respective debts and claims against the Debtor.  3. The Creditors have agreed to accept the offer of the Debtor and to take the said composition in fully discharging to their concerned debts and in consideration thereof, to grant to the Debtor the release hereinafter contained.  Now this deed witnesses as follows:  1. The Debtor hereby agrees with the Trustee and the Creditors that the Debtor, shall within a period of three months from the date of execution of this deed pay or cause to be paid to the Trustee the sum of Rs. _______________.  2. The Trustee in trust shall hold the said sum for the purpose as hereinafter stated. 3. The Trustee shall possess the said sum of Rs.____________ on trust to distribute the same among the Creditors whose names are given in Annexure A hereto in proportion to their debts. 4. In pursuing further pursuance the said agreement and in consideration of the premises the Creditors hereby jointly and severally release and discharge Debtor, from all debts owed by him to the Creditors. 5. The Creditors further discharge and release the Debtor from all actions, claims or demands or any of them against the Debtor in concerning the debt as owned. 6. If the Debtor fail to pay or caused to be paid to the Trustee the said sum of Rs. ___________, within the fix time, the release of the debts by the Creditors as aforesaid shall be nullity. 7. In case the Debtor is adjudicated insolvent prior payment of the whole of the said sum, in that case also the release of the said debts hereinbefore contained null and void and ineffective. In this eventuality the Creditors and each of them shall be free to exercise all such rights and remedies they would have been entitled to, had this deed not been executed. 8. The release hereinbefore contained is only concerning the Debtor and shall no case prejudice the rights of the Creditors or any of them against parties other than the Debtor, and the Creditors hereby expressly reserve all the rights and remedies against any such party or parties. 9. If any controversies shall emerge concerning any matter or things done under the foregoing enactments or otherwise in this deed the same shall, if the parties do not agree, be referred to the arbitration of MR……………………………………………………………, S/O……………………………………………………………………………….., RESI…………………………………………………………………. _____... The decision of the arbitrator shall be conclusive and bind the parties. In Witness Whereof, the parties to this deed have signed on the day and year above mentioned. Witnesses: 1. The Debtor  2. The Trustee  Annexure A as referred above  S. No. Name and Address of the Creditor Amount of Debt Due (in Rs.)  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

COMPOSITION DEED WITH CREDITORS FOR PAYMENT IN INSTALLMENT BY THE DEBTOR AND GUARANTOR  This Deed of Composition is made on this __________ day of ______________/.. Between MR._________....................................,  S/O ……………………………………………….  RESI_________ ______________ (hereinafter called "the Debtor" which expression shall unless contrary to the context include his successors, legal representative and assigns) of the first part; MR……………………………………………….,  S/O………………………………………………,  RESI………………………………………………(hereinafter called "the Trustee" which expression shall unless contrary to the context include his successors, legal representative and assigns) of the second part; MR……………………………………….……….  S/O.________________________,  RESI……………………………………………….(hereinafter called "the Guarantor" which expression shall unless contrary to the context include his successors, legal representative and assigns) of the third part, And all the various persons, firms and companies, as Creditors of the Debtor, whose names and seal are signed hereunder and affixed and the amount of debt owed to them is given in Annexure A to this document (hereinafter called "the Creditors" which expression shall unless contrary to the context include their successor, legal representative, heirs s and assigns as the case may be) of the fourth part: Whereas 1. The Debtor is indebted to the Creditors to amounts as given in Annexure A hereto. 2. The Debtor is unable to pay the Creditors their debts in full and hence has proposed to pay to the Trustee a sum of Rs.____________ to be distributed among the Creditors in proportion to their debts respectively and that such sum may be received by the Creditors fully discharging their respective debts /claims against the Debtor; 3. The Guarantor has consented in joining this deed for guaranteeing the due payment of the said composition. 4. The Creditors have consented in accepting the offer of the Debtor and taking the said composition in fully discharging their respective debts and in consideration thereof, to grant to the Debtor the release hereinafter contained. Now This Deed Witnesses as Follows: 1. The Debtor and the Guarantor hereby severally and jointly agree with the Trustee and the Creditors and each of them that the Debtor and the Guarantor or any one of them, shall within a period of three months from the date of execution of this deed pay or cause to be paid to the Trustee a sum of Rs. __________________ by way of equally quarterly payment. Each shall be payed by the ………………………… when this payment is due. 2. The Trustee in trust shall hold the said sum for the purpose as hereinafter stated. 3. The Trustee shall be possessing of the said sum of Rs._______________ on trust to distributing the among the Creditors whose names are set out in Annexure A hereto in proportion to their debts. 4. Shall be liable under this deed by virtue of time being allowed or indulgence granted to or by reason of any compromise /composition with the Debtor by the Trustee or the Creditor or any of them. 5. The Creditors hereby agree that till the Debtor or the Guarantor pays the quarterly installments in time they shall not bring legal proceedings or action against the Debtor. If this agreement contravened as covenant herein, this deed may be treated as a defense by the Debtor. 6. When the debts owed by the Debtor to the Creditors is fully paid, the Trustee shall certify this effect. Per certificate Trustee, the Debtor shall be discharged, released from all action, claim and demand respecting to debts owed by him. 7. In the eventuality of the Debtor not paying, caused to be paid to Trustee the said sum of Rs___________.____, by the fixed time, the release of debts by the Creditors as aforesaid shall be nullity. 8. In case the Debtor is adjudged insolvent prior payment of the whole amount, in that case also the release of the said debts herein before contained shall be null and void and ineffective. In this eventuality the Creditors and each of them shall be free to exercise all such rights and remedies that they would have been entitled to, had this deed not been executed. 9. The release herein before contained is only in concerning the Debtor and shall not respect prejudice the rights of the Creditors or any of them against parties other than the Debtor, and the Creditors hereby expressly reserve all the rights and remedies against any such party /parties. 9. If any controversies shall emerge regarding any matter or things done under the foregoing enactments or otherwise in relation to this deed the same shall, if the parties do not agree, be referred to the arbitration of MR…………………………………………………_S/O……………………………………….………………. RESI _________________________________. The decision of the arbitrator shall be final and binding on the parties.  In Witness Whereof, the parties to this deed have scribed signed on the day and year above stated.  Witnesses:  1……………………………………………………… The Debtor  2……………………………………..………………. The Trustee  3……………………………………………………. The Guarantor  4………………………………………..………….. The Creditors  Annexure A hereinabove referred  S. No. Name ………………………………………….. Address………………………………………………………………………. of the Creditor Amount of Debt Due (in Rs.) __________________. Download Word Document In English. (Rs.20/-) Download PDF Document In Marathi. (Rs.20/)