FORM 57

[See rule 75(4)]

INDEMNITY BOND

Know all men by these presents

I _______________________________S/o.__________________________ registered dealer under the Madhya Pradesh Vat Act, 2002 under the TIN _____________________- (hereinafter called the Obligor) is/are held and firmly bound unto Governor of Madhya Pradesh (hereinafter called the Government) in sum of _________________(in figures) Rupees___________________(in words) well and truly to be paid to the Government on demand and without demur for which payment to be well and truly made I bind myself and my heirs, executors, administrators, legal representatives and assigns/We bind ourselves, our successors and assigns and the person for the time being having control over our assets and affairs.

Signed this _________________ day of ________________ 20

Whereas sub-rule (4) of rule 75 of the Madhya Pradesh Vat Rules, 2006 requires that in the event of a blank or a duly completed form of declaration is lost while it is in the custody of the dealer or in transit to the selling/purchasing dealer, to furnish an indemnity bond to the authority from whom the said form was obtained.

And whereas the obligor here is such dealer, and whereas the obligor has lost the declaration in *Form 49 bearing No.____________________ (hereinafter referred to as the "FORM"),*which was blank / duly completed, and was issued to him by _____________________________________________ (Name and designation of the authority) in respect of the goods mentioned below :-

Now the condition of the above written bond of obligation is such that the obligor shall, in the event of a loss suffered by the Government (in respect of which the decision of the Government or the authority appointed for the purpose shall be final and binding on the obligor ) as a result of the misuse of the form, pay to the Government on demand and without demur the said sum of Rs.___________ Rupees _________ (in words) and shall otherwise indemnify and keep the Government harmless and indemnified against and from all liabilities incurred by the Government as a result of the misuse of such form. Then the above written bond or obligation shall be void and of no effect but otherwise shall remain in full force, effect and virtue. The obligor further undertakes to mortgage/charge, the properties specified in the schedule hereunder written by execution of proper deed of mortgage/charge for the payment of the said sum whenever called upon to do so by the assessing authority.

SCHEDULE

(Give details of the properties mortgaged/charged)

And these presents also witnesseth that the liability of the obligor hereunder shall not be impaired or discharged by reasons of any forbearance, act or omission of the Government or for any time being granted or indulgence shown by the Government or by reason of any change in the constitution of the obligor in cases where the obligor is not an individual.

The Government agrees to bear the stamp duty if any, chargeable on these presents.

In witness whereof the obligor *has set his hand/*has caused these presents executed by its authorized representatives, on the day, month and year above written.

Accepted for and on behalf of the Governor of Madhya Pradesh by name and designation of the officer duly authorized in pursuance of article 299 (1) of the Constitution to accept the bond and on behalf of the Governor of Madhya Pradesh.

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