THIS DEED OF ASSIGNMENT is made and executed on this …….. 8th November, 2023 (08/11/2023) at ……… by and between:
Mr. A S/o MR. B aged about ….. (hereinafter called the “ASSIGNOR”) which expression shall, unless repugnant to the context otherwise, include heirs, legal representatives of the ONE PART.
AND
Mr. C S/o MR. D aged about ….. ( hereinafter called the “ASSIGNEE”) which expression shall, unless repugnant to the context otherwise, include heirs, legal representatives of the OTHER PART.
WHEREAS
- The Assignor and Assignee are jointly severally known as “Parties”.
- The Assignor holds the ……. (no.) of fully paid up equity share of ………………
- The Assignor has contracted with the Assignee for the assignment of the said equity share subject to the terms and conditions set out hereunder.
NOW THIS DEED WITNESSES AS FOLLOWS:
- That the assignor hereby, agrees to assign all the interest, right in the said equity share held to assignee. Assignee hereby agrees to take the said equity share.
- That the assignee shall be paid, this day, a sum of Rs. ……. (IN WORDS) to assignor. The receipt, whereof the assignor doth hereby admit and acknowledge.
- That from the date of this agreement, the assignor shall have no rights over such share.
- That the assignee shall register the said deed and pay the requisite value of stamp duty thereon.
- After the date of assignment, the assignor declare that if any corporate benefit being received in the form of dividend, bonus share etc. upon the said share then such benefit shall be transferred to assignee without any default.
- Any dispute arising under this deed shall be referred to the single arbitrator to be appointed by the parties. His award shall be final and binding upon the parties.
IN WITNESS WHEREOF the parties hereto have signed this day on the date above written in the presence of the following witnesses.
WITNESS 1 Assignor
WITNESS 2 Assignee