DEED OF CANCELLATION

THIS DEED OF CANCELLATION made and executed at Nasik this ….. day of 2005
BETWEEN
M/s Gemini & Company, a partnership firm, registered under the Indian Partnership Act 1932, having its office at 1140 Shivajinagar, Nasik
411005, acting through its partner,  Shri A B C,     age  50 years,
occupation - business, resident of 1150 Shivajinagar, Nasik 411005, hereinafter called the VENDORS, (which express shall, unless repugnant to the context, mean and include the said firm, its present and future partners, their heirs, executors, administrators and assigns) of the First Part
AND
Shri X Y Z age 54 years, occupation - service, resident of 1200 Sadashiv Peth, Nasik 411 037, hereinafter called the PURCHASER, (which express shall, unless repugnant to the context, mean and include his heirs, executors, administrators and assigns) of the Second Part
AND
1.         Shri C T D ,  age 45 years, occupation - service,
2. Shri S T D , age 40 years, occupation - business, both residents 353 Narayan Peth, Nasik 411 037, hereinafter called the CONFIRMING PARTY, (which express shall, unless repugnant to the context, mean and include their heirs, executors, administrators and assigns) of the Third Part. 
WHEREAS the property bearing Survey No. 40, of Erandwana, Nasik, is owned by the present confirming parties;
AND WHEREAS the present vendors have already started the construction of a multi-storeyed building on the said property;
AND WHEREAS the premises in the proposed building are sold on ownership basis under the scheme u/s 21 of the Urban Land (Ceiling & Regulation) Act 1976;
AND WHEREAS the vendors have also started to enter into booking agreements to sell and allot the flats and premises in the proposed building on ownership;
AND WHEREAS the present purchaser had entered into a booking agreement, dated……….. with the vendors herein; 
AND WHEREAS the purchaser had also paid a total sum of Rs……….towards the instalments of the purchase-price of the flat agreed to be purchased and acquired by the purchaser in the said building;
AND WHEREAS the purchaser, on account of his personal financial difficulties, not being in a position to make the payment of the remaining instalments, requested the vendors herein to cancel the said booking agreement, dated	, entered into by the purchaser with the vendors;
AND WHEREAS the said booking agreement has already been registered with the Sub-Registrar, Haveli No. I, at Sr. No. 245, dated……..;
AND WHEREAS the vendors found that it would be possible for them to cancel the said booking agreement, dated………, entered into by the purchaser in respect of the Flat No………proposed to be purchased by the purchaser and refund the amount, which the vendors have so far received from the purchaser, and also allot the said flat to any other prospective purchaser;
NOW, THIS DEED WITNESSES as follows:
1. That the parties hereto do hereby declare that the said booking agreement, dated……….." entered into by the purchaser with the vendors for the purchase of the Flat No. _, and which has been registered with the office of the Sub-Registrar, Haveli No. I, at Sr. No. ………, is hereby cancelled.
2. That the purchaser, as agreed by him unto the vendors, has today received from the vendors a sum of Rs………, by cheque No………, dated ………, drawn on the…Bank,……..Branch, towards the refund of the amount paid by the purchaser unto the vendors, after deducting therefrom the actual expenses incurred so far in the said transaction.
3. That the purchaser does hereby declare and confirm that after receiving the said amount, as aforesaid, the purchaser shall have no right, title or interest in or over the said Flat No………., in the building known as "…." standing on the property bearing Survey No. 40, of Erandwana, Nasik 411 004.

IN WITNESS WHEREOF the parties hereto have signed hereunder at Nasik the date first abovementioned.
Sd/- ABC VENDORS
Sd/- XYZ PURCHASER

Witnesses:
Sd/-xXx
Sd/-xXx
Sd/- CTD
Sd/- STD
CONFIRMING PARTY