This Deed of
indemnity is made at ................... on this .............. day of
............. 19 .......... between A, son of ....................... resident
of ......................................... (hereinafter called "the
applicant") and B, son of .............................................
resident of .................................. (hereinafter called "the
Surety").Whereas Shri
.................. son of .............................. resident of
........................... had purchased .......................... shares
bearing No........... of XYZ Co. Ltd., a company incorporated under the
Companies Act, 1956 and having its registered office at
........................ (hereinafter referred to as the "said
company");and Whereas the said
Shri .................... died on the ......... day of .................. One
thousand nine hundred and .............. and leaving him surviving
................. as his only legal heirs according to
............................. law by which he was governed;and Whereas the said
applicant is entitled to the said shares in consequence of the death of the
said .............................. applied to the said company to transfer the
said shares into the name of the said applicant and to pay to him the unpaid
dividends due on the said shares without insisting upon production of grant of
legal representation to the estate of the deceased from a competent court which
the company has agreed to do upon the execution by the applicant and by the
said sureties unto the said company of such indemnity as hereinafter contained.Now This Deed Witnesses
That we the said applicant and surety for ourselves, our heirs, executors,
administrators and assigns Do Hereby jointly and severally covenant with the
company, its successors and assigns that we the said covenanting parties and
each of us and each of our heirs, executors, administrators and assigns will on
the Company transferring the said shares into the name of the said applicant
and paying to him the dividends already due and to become due thereon, at all
times save, defend and keep harmless, indemnity and keep indemnified the
company, its successors and assigns of and its and their estates, from and
against all claims, demands, actions, proceedings, loss, damages, costs,
charges and expenses which may be made or brought or commenced against them or
which they may or may have to incur or suffer as a result or on account of
transfer of said shares in the name of the applicant or the dividends accrued
or to accrue in respect thereof or any part thereby, or otherwise in connection
with the said shares.In Witness Whereof,
we the said applicant and surety have hereunto set our hands on the day and
year first hereinabove written.WITNESSES Signed and
delivered by A the within named applicant1.2.
Signed
and delivered by B the within named surety