DEED OF CANCELLATION OF PARTNERSHIP

THIS DEED OF CANCELLATION made and executed at ………… this ….. day of 20………..

BETWEEN

M/s .........................& Company, a partnership firm, registered under the Indian Partnership Act 1932, having its office at ……………, acting through its partner, Shri ..............................................., age ……..years, occupation - business, resident of………………, 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 ................................ age ……… years, occupation - …………………….., 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.............................. , age …………… years, occupation - ………….,

2. Shri ……………..age …………years, occupation - ………………, 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. ……………, 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 installments 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 installments, 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, …………….at ………………., 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, ..............................., 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 there from 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 ……………...

IN WITNESS WHEREOF the parties hereto have signed hereunder at Mumbai the date first abovementioned.

Sd/-

................. VENDORS

Sd/-

....................... PURCHASER

Witnesses:

Sd/-

............................

Sd/-

...............................

Sd/-

................................

Sd/-
..............................CONFIRMING PARTY