Docs 1689064903

DEED OF SETTLEMENT
(FOR THE BENEFIT OF MINOR CHILDREN)
This Deed of Settlement (this “Agreement”) is entered into as of

_____________ (the ‘’Effective Date’’) at ____________[[Place]].
BETWEEN:
_______________[[Name]], Son/Daughter of ______________

[[Father’s Name]], Resident of _________________[[Address]].
AND:
________________ [[Name]] Son/Daughter of______________

[[Father’s Name]] Resident of ________________________
[[Address]].
PREAMBLE
WHEREAS, the Settlor has three minor children L, M and N who were born on
the ________ (date of birth), on the ________ (date of birth) and on the
_________ (date of birth) respectively. The Settlor hereby transfers and assigns
all the movable and immovable properties mentioned and detailed in the
Schedules I and II respectively and attached hereto the Trustees upon Trust and
subject to the power and provisions hereinafter expressed and declared. The
Settlor also declares that he possesses the full power to so transfer and assign
the properties under every existing law of the land.
WHEREAS it is hereby declared that the aggregate market value of the

aforesaid properties is Rs _________ [[amount]];
WHEREAS, The Trustees shall hold the said properties mentioned in both the
Schedules hereto or any property representing the sale in Trust for such of the
Settlor’s Minor children until such time that each male child attains the age of
18 years or being females, each female child attains the age of 18 years or
marries, whichever occurs later, in equal shares.
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Except where the Trustees consider it to be absolutely and unavoidably
necessary, the Trustees shall not effect any transfer of immovable property
mentioned in the Schedule and even in such absolute and unavoidable
circumstances, such transfer shall be effected by them only with the prior
express permission of the setter or where the settler is dead, at such point of
intended transfer with the prior express permission of the settlor’s wife for the
time being and where at the time of the intended transfer neither the settler nor
his wife is alive intended transfer shall be made only with the permission of the
Court.
WHEREAS, The income accrued and yielded by the properties mentioned in

the Schedules hereto shall be applied by the Trustees towards the healthy and
disciplined upbringing as well as proper education of the Settlor’s children
during their minority. The surplus of the income from the properties after
meeting the expenses for the said purposes shall be invested by the Trustees in
any scheduled commercial bank at best interest rates possible.
WHEREAS, The immovable properties mentioned in the Schedule hereto may

be sold by Trustees only in exceptionally compelling circumstances and not
merely because of an offer of a good price for them from any person. Such
compelling circumstances may mean, for example, inadequacy of the revenue
income accrued and yielded by the properties being to meet all of the expenses
for healthy and disciplined upbringing and sound education of minor children.
The Trustees may also withdraw moneys an securities that totally remained
deposited for the purpose of depositing them or any part of them in other kind
of investment which the Trustees may feel to yield superior income.
WHEREAS, would it so happen that any of my female minor children is

married before attainment of the age of 18, the Trustees may meet the expenses
of such marriage out of income derived from properties mentioned in Schedule I
hereto and if necessary out of the money or securities mentioned in Schedule II
hereto. In any case, the Settlor desire that the marriage of such female minor
children shall not be performed ostentatiously and in keeping with such desire
the Trustees shall not apply the income from the properties in excess of
Rs__________ towards the expenses of marriage. If any sum of money so
applied out of the properties, moneys or securities mentioned in the Schedules
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hereto exceed the limits that the Settlor has specified hereinabove such excess
shall be set off against the property of the female minor child.
WHEREAS, The power of appointing successor Trustees in case of any

vacancy arising among the Trustees for any reason, shall be vested in the Settlor
during his life time or in his wife for the time being after the death of Settlor if
she survives him and thereafter in the Court of Competent jurisdiction.
NOW THEREFORE in consideration of the mutual promises and covenants

contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:
1. DUTIES AND OBLIGATIONS OF THE TRUSTEE
(1) To dispose of the property in favour of minor as mentioned in the

agreement
(2) The trustee must avoid transfer of property even in exceptional or

unavoidable circumstances except as provided in this agreement;
(3) If required, trustee has to bear the expense of the minors before they
attain the age of 18 from the property or the income arising out of
the property:
2. CONFIDENTIALITY.
The Trustee or settler shall not, in any fashion, form, or manner, either
directly or indirectly:
(1) Disclose or communicate to any other person any information
relating to the agreement (the “Confidential Information”);
(2) Duplicate any Confidential information;
(3) Use any Confidential Information other than solely for the benefit
of the minor; or
(4) Assist a third person in using any Confidential Information in any
manner but solely for the benefit of the Minor.
3. TERM
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(1) This Agreement will come into force as of the
___________[[Effective Date]].
4. DISPUTES AND RESOLUTIONS - ARBITRATION:

(1) In the event of any dispute, difference or controversy arising in the
performance, interpretation, implementation or application of this
agreement, the parties will first attempt to resolve their differences
mutually but failing mutual settlement dispute, difference or
controversy arising, either Party may request that such disputes be
settled by arbitration in accordance with the Arbitration and
Conciliation Act, 1996 (“ the Act of 1996”) and the rules made
there under, as amended from time to time.
(2) The Seat of Arbitration will be in Jaipur and all Arbitration
proceedings will be conducted in Jaipur.
5. GENERAL PROVISIONS
(1) Entire Agreement & Amendments
This Agreement hereto constitutes the entire agreement and

understanding between the parties relating to the subject matter
hereof, and supersedes all other agreements, oral or written, made
between the parties with respect to such subject matter. Except as
provided herein, this Agreement may not be amended or modified
in any way except by a written instrument signed by both Parties.
(2) Assignment
Neither of them shall assign this Agreement or any of its rights or

obligations..
(3) Incorporated by Reference
The Preamble and all Attachments, Schedules and Exhibits

attached hereto are hereby incorporated by reference and made a
part of this Agreement.
(4) Applicable law
This Agreement shall be governed by and interpreted in accordance

with the laws of the India, without reference to its conflict of law
provisions, and the laws of India applicable therein. All disputes
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arising under this Agreement will be referred to the courts situated
in India which will have jurisdiction, and each Party hereto
irrevocably submits to the jurisdiction of such courts.
(5) Currency
All references to monetary amounts in this Agreement shall be to

Indian currency.
(6) Absence of presumption
No presumption shall operate in favor of or against any Party

hereto as a result of any responsibility that any Party may have had
for drafting this Agreement.
(7) Language clause
It is hereby agreed that both parties specifically require that this

Agreement and any notices, consents, authorizations,
communications and approvals be drawn up in the English
language.
(8) Interpretation
The headings and section numbers appearing in this Agreement or

any Schedule attached hereto are inserted for convenience of
reference only and shall not in any way affect the construction or
interpretation of this Agreement.
IN WITNESS WHEREOF, each party to this agreement has caused it to be

executed at _____________[[Place of Execution]] on the date indicated above.
[[First Party ]] [[Second Party ]]
[[Signature]] [[Signature]]
Page 5 of 6
____________________ ____________________
[[Name]] [[Name]]
__________________ __________________
[[Title]] [[Title]]
WITNESSES
1. [[Name of the Witness:]] ______________________
[[Address of the Witness]] ______________________
[Signature]
2. [[Name of the Witness:]] _____________________
[[Address of the Witness]] _____________________
[Signature]
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DEED OF SETTLEMENT

(FOR THE BENEFIT OF MINOR CHILDREN)

This Deed of Settlement (this “Agreement”) is entered into as of

_______________[[Name]], Son/Daughter of ______________

________________ [[Name]] Son/Daughter of______________

WHEREAS it is hereby declared that the aggregate market value of the

WHEREAS, The income accrued and yielded by the properties mentioned in

WHEREAS, The immovable properties mentioned in the Schedule hereto may

WHEREAS, would it so happen that any of my female minor children is

WHEREAS, The power of appointing successor Trustees in case of any

NOW THEREFORE in consideration of the mutual promises and covenants

1. DUTIES AND OBLIGATIONS OF THE TRUSTEE

(1) To dispose of the property in favour of minor as mentioned in the

(2) The trustee must avoid transfer of property even in exceptional or

4. DISPUTES AND RESOLUTIONS - ARBITRATION:

(1) Entire Agreement & Amendments

This Agreement hereto constitutes the entire agreement and

Neither of them shall assign this Agreement or any of its rights or

(3) Incorporated by Reference

The Preamble and all Attachments, Schedules and Exhibits

(4) Applicable law

This Agreement shall be governed by and interpreted in accordance

All references to monetary amounts in this Agreement shall be to

(6) Absence of presumption

No presumption shall operate in favor of or against any Party

(7) Language clause

It is hereby agreed that both parties specifically require that this

The headings and section numbers appearing in this Agreement or

IN WITNESS WHEREOF, each party to this agreement has caused it to be

[[First Party ]] [[Second Party ]]

1. [[Name of the Witness:]] ______________________

[[Address of the Witness]] ______________________

2. [[Name of the Witness:]] _____________________

[[Address of the Witness]] _____________________

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