Security Bond for Stay of Execution of Decree

Security Bond for Stay of Execution of Decree

(Or. 41, r. 5 of CPC)

Know all men by these presents we, AB son of etc. (judgment-debtor) and CD son of etc., (surety) hereby and hereunder are held and firmly bind ourselves jointly and severally to Sri …………………… or his successor in office for the time being in the sum of Rs. ………… of lawful good money to be truly and faithfully paid, for which payment we bind ourselves and our respective heirs, executors and administrators and representatives as hereunder stated.

Sealed with our seals this …………… day of ……………

WHEREAS a decree for Rs. …………… was made on the ……… day of ……… against the said AB in a suit being Suit No. ……… of ……… the court etc. (cause title) and whereas the said AB has preferred an appeal against the said decree being Appeal No. ……… of ……… of the court of ……… which is now pending. And whereas by an order dated ………… made in the said appeal the Court of Appeal has granted stay of execution of the said decree upon the said AB furnishing security to the satisfaction of the court for the sum of Rs. ……… and whereas the said AB has offered the said CD as surety he having been approved by the court subject to his entering into a bond for Rs. ………… creating thereunder a first charge on the undermentioned property for satisfaction of the said decree as may be confirmed or varied by the Court of Appeal.

NOW THE CONDITION of the above-written bond or obligation is such that in the event the said decree being eventually passed and/or confirmed and/or upheld in appeal, the said AB and/or CD shall pay or cause to be paid to the decree-holder the full decretal amount inclusive of interest and costs and/or shall otherwise satisfy and/or discharge the same or in case the suit is ultimately dismissed, then and in all such events the above-written bond or obligation shall stand cancelled and be of no effect and the property charged shall stand redeemed, otherwise the same shall remain in force and virtue.

PROVIDED, however, in case the decree is modified by the Court of Appeal, the property hereunder charged shall continue to remain charged as security for whatever amount is due and payable to the decree-holder.

Schedule of the property charged

Signed, sealed and delivered                                                                               AB

CD

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