FIR Online, download legal format. IPC, CPC, CrPC, IP, NI, CP Act

Administration Bond under Section 291 of Indian Succession Act 1925.

Format of Administration Bond under Section 291 of Indian Succession Act.

As per Section 291 of Indian Succession Act, (1) Subject to the provisions of this Act, the Board of directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do.

Sample Format of Administration Bond under Section 291 is given below.

 

ADMINISTRATION BOND UNDER SECTION 291 OF INDIAN SUCCESSION ACT

Know all men that we________________, ______________, s/o Late ____________ r/o __________________ and ______________ s/o ________________ r/o
____________________ (surety for Mr. _______) bind ourselves jointly and severally to Shri. ___________, _____________ for payment to him or his successor in office of the sum of Rs______________

We have signed this bond on this______________ day of__________ at __________

Signature____________

Signature_____________


Whereas by an order of the Court of the said District Judge, _____________, Mr. ________, made on the _____ day of__________ the said Mr. _______ has been appointed administration of the estate of _______, subject to the condition that said _______ enter into a bond of Rs____________ with a surety for the same amount for the due collection, getting in and administration of the estate of the deceased.

And whereas the said Mr. ______________ has agreed to enter into the above mentioned bond and the said _______ has agreed to enter into bond as security to Mr. ________.

NOW THIS BOND WITNESSES AS UNDER:
Now the condition of the above written bond is that if the said Mr. ______ do and shall within six months from the date of granting of the letter of administration of the estate of ______ deceased, or such further time as the Court may grant, exhibit in the said Court of the District Judge an inventory, complete in all respect, containing a full and true estimate of the estate of the deceased, and all credits and also all debts owing by any person to which ____________ is entitled as administration, and do and shall, within one year from the date of the said grant, or such further time, as he said court may appoint, exhibit an account of the estate of the said Late ________ (deceased), showing the assets which have come to his hands and the manner in which they have been applied or disposed of, and do and shall just and true administration, credits and estate according to law, and shall deliver and pay to such person or persons, as shall be lawfully entitled thereto, all the rest and residue of the property, credits and estate which shall be found remaining upon the said administration account, then the above written bond shall stand void but otherwise it shall remain in full force.

We the above noted parties have signed this bond on this____________ day of_______ at ___________ after fully understanding the contents of this bond in the presence of the following witnesses.

ADMINISTRATOR ___________________

Name __________ Signature _________ Address________

Witnesses
1.

SURETY _________________

Name __________ Signature _________ Address________

2.

 

Section 291 of Indian Succession Act, 1925

291. General powers of Board.

(1) Subject to the provisions of this Act, the Board of directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do:

Provided that the Board shall not exercise any power or do any act or thing which is directed or required, whether by this or any other Act or by the memorandum or articles of the company or otherwise, to be exercised or done by the company in general meeting:

Provided further that in exercising any such power or doing any such act or thing, the Board shall be subject to the provisions contained in that behalf in this or any other Act, or in the memorandum or articles of the company, or in any regulations not inconsistent therewith and duly made thereunder, including regulation made by the company in general meeting.

(2) No regulation made by the company in general meeting shall invalidate any prior act of the Board which would have been valid if that regulation had not been made.

 



Home    About Us     Privacy Policy     Disclaimer      Sitemap