COMPROMISE DEED TO BE EXECUTED BETWEEN A BORROWER & BANK

WITH REGARD TO SETTLEMENT OF DISPUTES/VARIOUS LEGAL CASES

RELATING TO REPAYMENT OF LOAN BY THE BORROWER TO THE BANK

NOTE. 1. TO BE TYPED ON STAMP PAPERS OF SUCH AMOUNT AS ARE

REQUIRED AS PER THE RELEVANT ARTICLE OF THE INDIAN
STAMP ACT 1899 AS APPLICABLE TO THE TERRITORY / STATE OF
EXECUTION.

2. IT IS ADVISABLE TO GET IT NOTARIZED AT THE PLACE OF

EXECUTION

This deed of Compromise is written on ___ day of _____ 201_ at ____

Between

1. M/s _______, a company registered under the Companies Act 1956,

presently known as _______ (___), having its office at ________,Through its
Director Mr. ______, S/o Shri ______, who has been authorised by Board
Resolution dated _____ hereinafter called the First Party (which expression
shall unless repugnant to the context or meaning thereof include its
successors and assigns)
AND

2. _________ Bank Ltd., Home Finance Department, having the corporate

office _____________, through its Authorised Signatory _________ who has
been authorised by Board Resolution dated _____ hereinafter called the
Second Party (which expression shall unless repugnant to the context or
meaning thereof include its successors and assigns)

Whereas the name of the First Party has been changed from _______ to
_______ (____) as per Certificate of Incorporation consequent upon
conversion to a One Person Company dated _______ issued by the
Ministry of Corporate Affairs, Government of India.

Whereas the the Second Party has given a Loan of Rs._______/- to the First
Party against the Apartment No.____, admeasuring ____ sq.ft. in Block-__,
__ Floor, admeasuring _____ sq.ft. at ‘___________, ______.

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 Whereas the First Party has paid an amount of Rs._______/- to the Second
Party against the said Loan of Rs._______/-.

Whereas certain dispute arose between the Second Party and the First Party
and as a result thereof the following legal cases were filed between the First
Party and the Second Party and vis a versa:-

Case Title Case No Next Pending

Dated Before Court

1.

2.

4.

4.

5.

Whereas the nature and subject matter of the disputes are not mentioned
herein as an attempt has already been made by the parties to mutually settle
the disputes by putting an end to the abvoe legal cases.

Whereas the First Party and the Second Party have mutually compromised
and settled all the disputes on the terms and conditions mentioned
hereinafter:-

1. That the First Party and the Second Party have mutually agreed and settled
the total liability inclusive of interst payable by the First party to the Second
Party at an amount of Rs._______/-.

2. That the First Party has paid the above amount of Rs._______/- to the Second
Party by issue of the following current and post dated cheques:-

(i) Cheque No.______, dated _______ for Rs._____/- drawn

on____________________ and in favour of _______.

(ii) Cheque No.______, dated _______ for Rs._______/- drawn

on____________________ and in favour of _______.

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 (iii) Cheque No.______, dated ______ for Rs._______/- drawn
on____________________ and in favour of _______.

(iv) Cheque No.______, dated _______ for Rs._______/- drawn

on____________________ and in favour of _______.

(v) Cheque No.______, dated ______ for Rs._______/- drawn

on____________________ and in favour of _______.

(vi) Cheque No.______, dated _____ for Rs._______/- drawan

on____________________ and in favour of _______.

3. That in order to avoid and put an end to the pending litigations the First Paty
and the Second Party have agreed to unconditionally withdraw all the disputes
and differences as mentioned above or any other from the different Hon’ble
Courts immediately on the encashment of the cheques mentioned in para 2(i)
to (vi) above as full and final satisfaction of the parties without and pressure,
coerion, undue influence etc. by filing an Application alongwith a copy of this
Compromise Deed before the different Hon’ble Courts mentioned hereinabove.

4. That the First Party and the Second Party undertake not to file any other
case/suit/appeal/complaint/petition/execution case or any other case in any of
the court after this amicable settlement/ Compromise.

5. That on the encashment of all the cheques mentioned in para 2 (i) to (vi)
hereinabove both the parties shall be released of all their rights, claims and
obligations against each other arising from the disputes / legal cases described
above. That the Second Party have further agreed, confirmed and declared
that on the encashment of all the cheques mentioned in para 2 (i) to (vi)
hereinabove the Second Party shall not have any lien, right, claim and interest
of any nature whatsoever in the Apartment No.___, admeasuring _____ sq.ft.
in Block-__, __ Floor, admeasuring _____ sq.ft. at ‘_________ Complex,
_____________.

6. That this Compromise Deed is final and conclusive and irrevocable and
bindling on both the paries. This Compromise Deed is intended to bind and
benefit the parties, their heirs, agents, legal representatives, assigns, and
successors in interest.

In Witness Whereof, the parties have hereunto set and subscribed their
respective hands, the day, month and year first above written.

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Witness:1 For _______ (_____)

(___________)
Director
First Party

For ___________
Witness:2

( )
Authorised Signatory
Second Party

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