Release Deed by vlp17176

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									                                      RELEASE DEED

THIS DEED OF RELEASEis made at (city) this ____ day of __________, 199_
BETWEEN _____________________, a company incorporated under the
companies Act, 1956 having its registered office at
____________________, _______ ____, (city) representing partnership
firm _____________________________ hereinafter called the "THE
RELEASOR " of the ONE PART AND (1) _____________________, a
company incorporated under the Companies Act, 1956 having its
administrative office at _____________________, (city) and (2)
__________________, ________ a company incorporated under the
Companies    Act,   1956,   having     their   administrative office at
______________________, _____________________ (city) hereinafter
called "THE RELEASEES" of the OTHER PART.

WHEREAS :

 a. The Releasor and the Releasees hereto were partners of the partnership firm of M/s.
     ___________________ (hereinafter referred to as the "said firm ") re-constituted as per
     Partnership Deed dated __-__-199_ which was originally constituted by the partnership deed
     dated __-__-199_ and modified by supplementary agreement dated __-__-199_.

 b. The releasor i.e. M/s. ___________________________ had purchased an immovable property
     more particularly described in the schedule hereunder as per Conveyance Deed dated
     __-__-199_. (hereinafter referred to as the "said immovable property ") out of the funds
     provided by the firm ______________________. The said deed is registered under serial
     No.________ on __-__-199_ and index II has been issued.

 c. That in accordance with addendum to the partnership of ______________________
     (Supplementary Agreement dated __-__-199_) it was confirmed by ______________ that the
     said immovable property did vest in the partnership firm _______________________
     constituted by the Releasor and the Releasees.

 d. That during the course of running of the said partnership business difference of opinions had
     crept up between the Releasor and the Releasees with regard to the running of the business of
     the said firm.

 e. The Releasor has retired from the partnership firm _____________________ in terms of a
     Deed of Retirement executed simultaneously today.

  f. In view of the terms stated in the Retirement Deed the Releasor have agreed that they have
     no share, right, title or interest or claim of any nature whatsoever to or in the said partnership
     firm or the business or the assets including outstandings, and or its name or properties,
     whether tangible or intangible and in the benefits, rights, enjoyment and advantages of
     established name, licences, registrations and all tangible and intangible advantages and
     incidental rights held by the firm which continue to belong to the said firm.

 g. It is further agreed as per aforesaid retirement deed that the Releasor would sign all such
     documents which may be necessary to give effect to or implement the said deed.

 h. The Releasees have requested the Releasor to confirm and declare that the Releasor have
     given up their claim in respect of all the properties owned by the said firm including the



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      immovable property mentioned in the schedule hereunder. The Releasor have acceded to the
      aforesaid request of the Releasees.

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER :

  1. The Releasor hereby release and renounce all their claims and demands of whatsoever nature
      in respect of the properties whether movables or immovables including the immovable
      property known as _____________ more particularly described in the Schedule hereunder
      written in favour of the Releasees to the intent and purpose that only the said firm
      ________________________ will continue to be the owners of the said properties.

  2. The parties hereto agree from time to time to do and execute all such further acts, deeds,
      matters and things as may be reasonably required for fully and effectively implementing the
      terms and intent of this Deed.

  3. The Releasor hereby declare and confirm that they have not done or omitted to be done any
      act, deed, matter or thing whereby or as a result or consequence whereof they are prevented
      from releasing their claim in respect of the said properties in favour of the Releasees hereto.

                                THE SCHEDULE ABOVE REFERRED TO

     ALL THAT place or parcel or ground with the building and structures thereon known as
"______________" situate _________________ ___________________ _________________
admeasuring ____ sq.yds., equivalent to _____ sq.mtrs. or thereabouts being Final Plot Nos.______
of     _____________________           ,     ____________________          __________________
___________________________.

                      the parties hereto have set and subscribed their
      IN WITNESS WHEREOF
respective hands and the seals on the day and year first hereinabove
mentioned.

SIGNED, SEALED AND DELIVERED by the              )
withinnamed "RELEASOR"                         )
_______________________________                 )
____________________ representing              )
partnership firm M/s ______________            )
in the presence of ......................... )




SIGNED, SEALED AND DELIVERED by the              )
withinnamed "RELEASES"                         )
(1) _______________________________ )
(2) _______________________________ )
partnership firm M/s ______________             )
in the presence of ......................... )




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