Deed of Indemnity

DEED OF INDEMNITY
THIS DEED OF INDEMNITY (“Deed”) made and executed at New Delhi on this___ day of _______,
2023 by:
M/S …………………….. having its registered office at …………………. PIN…………… represented through its
Managing Partner “Name” , aged about …………….Age years, S/o Father’s Name residing at Resident
Address Aadhar No…... Contact num…… PAN No…… GST t No. …... (hereinafter referred to as the
"INDEMNIFIER”, which expression shall where the context so admits include its successors-in-interest
and permitted assigns).
IN FAVOUR OF
HERO FINCORP LIMITED, a company incorporated under the provision of Indian Companies Act 1956
having its registered office at Building No. 34, Basant Lok, Vasant Vihar, New Delhi – 110057
(hereinafter referred to as the "INDEMNITY HOLDERS" or “HFCL" (which expression shall where the
context so admits include its successors and assigns
WHEREAS:
(a) The Indemnifier is an individual / in the business of resale and purchasing of vehicles along with
other related business.
(b) HFCL is in the business of inter alia extending financial assistance to its customers.
(c) During the course of its (Indemnity Holders) business lot of financed vehicles comes back in its
possession due to default on as is where is condition.
(d) Indemnifier has approached to the Indemnity Holder and shown his/her interest in purchase of
such vehicle which are possessed back by Indemnity Holders on as is where is basis.
NOW THEREFORE in consideration of Indemnity Holder having agreed to sell such vehicle which the
Indemnifier has shown his/her interest to purchase, Indemnifier hereby irrevocably, absolutely and
unconditionally, undertakes, agrees and confirms as follows that:
1) Indemnifier has purchased vehicles more fully described herein below from the Indemnity
Holders, on as is and where is basis, and after satisfying himself about the conditions of the
said vehicles and checking with all the authorities.
2) Indemnifier will receive Form 36 along with all vehicle documents in original with-in one (1)
week from the date of this Deed and shall ensure the vehicle/s will not be plied until the
registration are not transferred in the name of indemnifier or in the name of any third party
as desired by the Indemnified. The vehicle/s will be available till that time in the above
address of the Indemnifier for any inspection by the registration department or by any
Judicial or Non -judicial Authorities.
3) Indemnifier shall be solely responsible for the payment of all pending taxes including future
taxes and also further undertake and agree to take all expenses/responsibility for transfer of
ownership, insurance etc. in his name or in the name of any third part as desired by the
Indemnifier and undertakes that ownership of the vehicles will be made transferred in the
name of Indemnifier or in the name of the prospective purchasers within 90 days on this
presents from the name of HERO FINCORP LTD or from the name of present registered
owner.
4) Indemnifier also hereby undertakes and agrees to keep harmless to the Indemnity Holder
against any claims or demands raised by the present registered owner, prospective
purchaser/s or any other person claiming through or under the name of Indemnifier and if
the Indemnity holder is required to suffer any loss due to such resale or any other claim
raised towards said resale of said vehicle/s purchased by the Indemnified.
5) Indemnifier do hereby undertake and agree to indemnify and keep harmless to Indemnity
Holder against any claims or demands arising by, through or under the name of Indemnifier
or any other person claiming by, through or under the Indemnifier, or by the said
prospective Purchaser or if the Indemnity holder is required to suffer any loss due to such
claim/s, cost and consequences arising out of sale of vehicles as per the enclosed list. The
Indemnifier further agrees to keep the Indemnity Holder indemnified for the total loss
together with all cost, expenses and damages thereof in respect of any demand raised
against the Indemnity Holder or loss caused to the Indemnity Holder by above mentioned
reason on behalf of or under the name of indemnified or said prospective purchaser and the
Indemnifier further undertake to keep the Indemnity Holder and them permitted assigns
save and harmless together with cost and expenses in respect of loss arose due to any
claims/costs/Consequences relating to sale of said vehicles as per the enclosed list whereby
the Indemnity Holder suffer or incur loss on account of the sale of said vehicles.
6) Indemnifier further hereby undertake to indemnify the Indemnity Holder against all
liabilities in case of any unwarranted or untoward post-sale situation that might arise due to
misuse, mishap or accident involving the vehicles and further undertake to indemnify
against all legal costs, damages, expenses, charges etc. that might arise before any judicial or
quasi-judicial authority or any courts and law enforcement agencies, as the case may be, due
to such misuse, mishap or accident involving the vehicles. Indemnifier also hereby undertake
to indemnify Indemnity Holder and bear all charges whether penal or otherwise in respect of
and arising out of non-compliance and non-adherence to the statutory timelines and due to
any delay caused in transfer of Registration Certificate and Insurance of the vehicles in the
name of the prospective purchaser and/or the Indemnifier.
7) Indemnifier hereby confirm that it have full capacity to execute this Deed.
8) This Deed shall be governed by the laws of India as applicable in the NCT of Delhi and any
disputes arising out of it shall be subject to the jurisdiction of courts in NCT of Delhi.
9) This Deed shall be irrevocable and shall be binding on me and on my successors, heirs,
executors, assigns and shall be in full force and effect.
IN WITNESS WHEREOF the Indemnifier above named have set and subscribed its hand the day and
year first hereinabove written.
By I
SIGNED AND DELIVERED by )
the withinnamed, “Indemnifier” )

under the hand of:
)
Mr. _________________
its duly Authorised Signatory;
In the presence of WITNESSES:
1. 2.
Annexure
Details of the vehicles Indemnified:
ASSE CHASSIS SALE

SR.NO AGREEMENT NO T REG NO NO AMOUNT

Deed of Indemnity

Uploaded by

Copyright:

Available Formats

Deed of Indemnity

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Deed of Indemnity

Uploaded by

Copyright:

Available Formats

DEED OF INDEMNITY

the withinnamed, “Indemnifier” )

its duly Authorised Signatory;

In the presence of WITNESSES:

Details of the vehicles Indemnified:

ASSE CHASSIS SALE

You might also like