Indemnity Bond in favour of a Bank by Heir of a Hindu Depositor by Shiva.

Indemnity Bond in favour of a Bank by
Heir of a Hindu Depositor

THIS INDEMNITY BOND is made this . . . . . . . . . day of . . . . . . . . . . . . ., 20 . . . . . . . . . by A.B., aged about . . . . . . . . . years, son of . . . . . . . . ., deceased, resident of. . . . . . . . ., (hereinafter called the ‘‘Obligor’’) AND E.F. aged about . . . . . . . . . years, son of . . . . . . . . ., resident of . . . . . . . . ., (hereinafter called ‘‘First Surety’’) AND G.H. , aged about . . . . . . . . . years, son of . . . . . . . . ., resident of . . . . . . . . ., (hereinafter called the ‘‘Second Surety’’) of the one part IN FAVOUR OF the . . . . . . . . .Bank, having its registered office at . . . . . . . . .and several branches including the one at . . . . . . . in the city of . . . . . . . . .(hereinafter called ‘‘the Obligee Bank’’) of the other part.

WHEREAS C.D. of . . . . . . . . .who died intestate on the . . . . . . day of . . . , 20 . . . . . . ., left him surviving only one daughter, namely, . . . . . and the Obligor and no wife or any other heir;

AND WHEREAS the said daughter is a minor under the guardianship of her brother the said A.B.;

AND WHEREAS the sum of Rupees . . . . . . . . . (Rs . . . . . . . . .) only lying in current account in the name of the said deceased in the Obligee Bank is joint family property;

AND WHEREAS the late C.D. and the Obligor were the only two members of the coparcenary and the claimant is now the sole surviving member of the said coparcenary and the said family is governed by the Mitakshara School of Hindu Law;

AND WHEREAS the Obligor and his minor sister are the sole claimants of the said amount standing in credit with the Obligee Bank and an affidavit duly sworn before . . . . . . . . . on the . . . . . . . . .day of . . . . . . . . ., 20 . . . . . . . . . to the above effect has been filed by the Obligor;

AND WHEREAS the Obligor has approached the Obligee Bank to make payment of the said sum of Rupees . . . . . . . . . only and the Obligee Bank has paid the aforesaid sum of Rupees . . . . . . . . . (Rs . . . . . . . . .) only to the Obligor (the receipt whereof the Obligor has separately executed this day). The said A.B. and E.F. and G.H. jointly and severally bind themselves to pay the said sum of Rs . . . . . . . . . only with interest to the Obligee Bank in the event of any claim being made to, contested or decreed in or about the said sum of Rs . . . . . . only by anyone else whomsoever.

FURTHER, in consideration of the aforesaid payment, the Obligor and both the Sureties, their heirs, successors, executors and administrators jointly and severally undertake to keep the Obligee Bank, its agents, servants, etcetera harmless and indemnified against all claims to the aforesaid sum of money together with all interest, loss, damages, estate duty and penalty and costs of all kinds whatsoever.

IN WITNESS whereof the Obligor, the First Surety and the Second Surety have hereto at. . . . . . . . .signed and delivered this Bond, the day and the year first above-written.

Sd. A.B.

Witnesses:                                                        ?  Obligor.

Sd. E.F.

First Surety.

Sd. G.H.

Second Surety.

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