Deed of Mutual Release of Debts and Causes of Action

THIS INDENTURE made on _____ day of ____ 20_____

BETWEEN

_____________ name, address etc. (hereinafter called “the Releasor”) of the One Part,

AND

 ___________ name, address etc. (hereinafter called “the Releasor”) Other Part.

WHEREAS there have been diverse dealings and transactions between the said Releasor and Releasee with reference have to their business and otherwise, and disputes and differences have arisen between them.

AND WHEREAS in the course of such disputes and differences an action has been commenced by the said Releasor against the said Releasee in respect of a sum of Rs. ______ alleged to be owing by the said Releasee to the said Releasor., but no proceedings have been taken in the said action beyond the issuing of the writ therein.

AND WHEREAS the said Releasor and Releasee have agreed to settle all the said disputes and differences (including the said action) by the payment of a sum of Rs. _____ by the said Releasee to the said Releasor and by the execution of mutual releases in manner hereafter appearing.

NOW THIS INDENTURE WITNESSETH that, in pursuance of the said agreement, and in consideration of the sum of Rs. ______ upon the execution hereof paid by the said Releasee to the said Releasor (the receipt whereof the said Releasor do hereby acknowledge) and of the premises each of them the said Releasor and Releasee do hereby release the other his heirs executors administrators estates and effects, FROM all sums of money accounts actions suits claims and demands up to the date and execution of these presents.

IN WITNESS WHEREOF etc.