BKC Deed of Indemnity

DEED OF INDEMNITY
This Deed of Indemnity executed by MR. UMAKANT son of MR. GOVIND

SAWANT, aged about 41 years, carrying on 480, PANCHMARG, NEAR CISF
COLONY, KURGAON (SHANTINAGAR), KURGAON, THANE,
TARAPUR, MAHARASHTRA – 401502, hereinafter referred to as the
BUYER; which expression shall mean and include his/her/its legal heirs,
representatives, successors and administrators of the ONE PART.
To and in favor of
M/S. CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY

LIMITED (Formerly) M/S. CHOLAMANDALAM DBS FINANCE LIMITED,
a public limited company, incorporated under the provisions of the Companies
Act 1956, having its Registered office at, “DARE HOUSE”, NO. 2, N.S.C.
BOSE ROAD, PARYS, CHENNAI – 600001, and inter alia branch office at
Mumbai hereinafter referred to:
WHEREAS;
1. During the course of its business the OWNER has funded to MR. GULLE
ZAHUR SHAIKH the vehicle bearing model TATA ACE having its engine
no. 275IDI06CWYS60966, chasis no. C22696 and registration no. MH-48-
T-2395 pursuant to the loan agreement bearing no. ____________ Dt.
_____ executed between the OWNER, hirer / borrower and
_______________ the guarantor at post ______________.
2. The hirer / borrower has committed several defaults under the said loan
Agreement and consequently has empowered therein the OWNER to take
Possession of the Vehicle in accordance with the terms of the loan
Agreement referred above. Consequent to the default committed by the
borrower, the OWNER has taken possession of the said vehicle on
____________.
3. The OWNER has invited various offers for the sale of the said vehicle on
“as-is-where-is” basis with all existing liabilities thereon like parking
charges, future registration charges, license fees, rents, rates, levies,
charges and taxes of whatsoever nature (inclusive of RTO tax, interstate
permit fees etc.),
4. By an offer dated ______________ the BUYER had offered to purchase

the vehicle on, “as-is-where-is” basis with all existing liabilities like taxes
etc, referred in the above clause.
5. Considering, the BUYER’S offer being the highest offer for the purchase
of the said vehicle, the OWNER had communicated their acceptance by
their letter dated _____________ in response thereto the buyer has paid the
consideration Vide Cheque/DD bearing no. ………………, Dated
…………… for purchase the said vehicle whereupon the OWNER had
issue a letter dated ……………… to their parking yard intimating them to
handover the possession of the said vehicle to the bearer along with RTO
transfer form nos. 29 to 30 duly signed by the hirer. I borrower and the
form number 35 signed by the OWNER to enable the BUYER to discharge
the existing liabilities referred in clause 3 herein above and also to obtain
registration certificate consequent to the sale of the said vehicle to the
BUYER by complying with required formalities with the office of the RTO
the BUYER has taken possession of transfer. The RTO has refused to the
RTO form number 29, 30 to 35 and I insisted that the said vehicle is to be
transferred in the name of the OWNER and therefore called upon the
BUYER to submit from no. 36 to enable RTO to transfer the said vehicle
initially in the name of OWNER and thereafter to transfer the same in the
name of BUYER upon compliance of the requesting formalities. “The
BUYER has requested the OWNER to furnish FORM 36 to the BUYER
and in consideration thereof as generally OWNER used to issue form 36
only when subject to condition vehicle should be in custody of OWNER till
transfer the vehicle on the name of BUYER as vehicle will be in custody of
BUYER so as to secure Civil & Criminal all types of liabilities this bond
has been executed by BUYER in favor of OWNER on below undertakings:
1. The BUYER hereby agree to undertakes to indemnify the owner and keep
indemnified the OWNER, its agents representative and assigns against any
loss, claim, damage whatsoever, that may be caused to the OWNER either
at the instance of the Hirer / Borrower of any other person, pursuant to
insurance of the FORM 36 in respect of the said vehicle and shall further
indemnify the OWNER against any damage or loss that may be caused
owing to any damage / caused to any person including the BUYER in
relation to the used of the said vehicle lying in the possession of the
BUYER pending name transfer of the said vehicle in favor of the BUYER.
2. The buyer also undertakes to carry out at its own cost and charges, all the
legal and procedural formalities in respect of transfer of the said vehicle in
the name of the OWNER and thereafter in the name of the BUYER and/or
its nominees/ assignees and undertakes to make payments of any penalty,
levies, interest, duty or compensation before or under any authority judicial
and / 01” RTO authorities and the BUYER agrees and undertakes to
indemnify and keep the OWNER saved defended, harmless and
indemnified.
IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET THEIR

HANDS ON THE DAY AND YEAR HEREIN ABOVE WRITTEN.
WITNESSESS BUYER
1.)
2.) ____________________

BKC Deed of Indemnity

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DEED OF INDEMNITY

This Deed of Indemnity executed by MR. UMAKANT son of MR. GOVIND

M/S. CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY

4. By an offer dated ______________ the BUYER had offered to purchase

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET THEIR

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