THIS BOND is executed by A son of Shri ………..resident of………..and B son of Shri ………..resident of………..karta and member of joint Hindu family respectively, trading under the name and style of M/s. ………..in favour of ………..under the terms and conditions herein mentioned.
WHEREAS the……. Hindu joint family is trading under the name and style of M/s ….. and A is karta of the said hindu joint family and B is the major member of the said hindu joint family and
WHEREAS the said firm requires advances from time to time for their business, which is being carried on by the aforesaid joint Hindu family for the benefit of the said joint Hindu family and has requested the..................(hereinafter referred to as the‑ said Bank) to make such advances to the said joint Hindu family firm, and
WHEREAS the said bank has agreed to make such advances to the said joint Hindu family firm as in its discretion it may think proper.
NOW THIS BOND WITNESSES AS UNDER: That the said A and B shall be responsible jointly and severally for the advances made by the said bank to the said firm and all documents signed by any one of the said A and B jointly and severally in the name of the said firm, as per specimen of signature set below, the said A and B promise that any advances so made to the said firm or either of them or jointly shall be repaid out of the joint family business and property and by each of them severally as well as jointly and by their heirs, executors, administrators, legal representatives or assigns in respect of all such advances.
A…………..
B…………..
WITNESSES 1.
2.

Using this format

This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.

Our Criminal Law team drafts and files these documents before the Calcutta High Court, city civil courts, magistrate, family and consumer courts in Kolkata. Our criminal defence team handles bail, trial and pre-trial applications in Kolkata courts.

Disclaimer: this page is a sample format reproduced for reference and study. It is not legal advice and does not create an advocate–client relationship.

Bond in Favour of the Creditor by Karta: Format

Using this format

Related