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No.MIS-1984/1226/DQM' Datedthe 2"4thAugust,~4.
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Sub: Admitting iKarta
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ofHUF to
join as partner in thepartnership
finn -
. ; ,b- t' r- 1) .f l'ar, J )f Resolution No.1625passed
.;: ~, ,ct i. n,; neldor: 23-,~-1981. A copyof the said
~xplar.atiOfl is enclosed for ready reference.
j:" So=: MIDCwas,not pe.rrnitting 'Karta' ot,
HUPto join a,. s partner in the partnership finO: while
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~.'.allotting
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plots/sheds in the industrial ar~~s.
quest~bnwasreviewed in consul tad.on ~.
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it has beendecided:~ -t while'"';\
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to the entrepreneurs '~arta'
The
theLegal Advis,erand
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,'; allotting p.l:6ts/sheds
11' , .".~.- .-
..~j/bf HUPmaybepennitted to join asP?rtner of the
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t partnership firmsubject to the following conditions:
i) Anindemnity bondin theprescribed form
may be obtained fromsuchpartners of the partnership
f t . . . "
firmin which"Kartaof HUF"has beenallowed tcf.be
inducted as apartner of the ~id partnership firm
indemnifying the Corporation fromanyclaims fer
damagesagainst the Cerperation in the event there
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~is adispute amongst themembersof the HUFandany
; one or moreof suchmembersof theHUPclaimhis .or
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.'their share in the CorporationIsproperty agreed to
beleased .or already leased.
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ii) In addition, anundertaking rniilY als,? be
'~co-btainedto the effect that Licensee/Lessee will not
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sub-divide the plot except with the'p.rior permllssidn
of tlleCOrT'0rationwhichcould bepermitted subject
C0ntd2/ -
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to tJ ~,; building regulations app.lLceb.lc to
t he concer ned ar ea f r om t i me eo, t ; i . meend Ont he
t er ms and condf t i on, s $at may bep. t e$cr l bed by
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t he cdr por at i on' f r oi TI - t i me to t i me whi l e aJ }owi ng
. . . " s uch s l . l . b- cf i : vi s i ~. +;
Al l cas es wher e t he ' Kar t a' of HUF has beeh
admi t t ed as one of t he par t ner s s hoUl d be
accor di ngl y deal t wi t h and an under t aki ng and
i ndemni t y bond s houl d be obt ai ned on r ecor d
bef or e m~ki ng s uch al l ot ment and/ or Ql l owi nQ
. . .
t r ans f er i n cas e of change i n t he cons i t ut i on.
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f ( 1J. . A vJ~~
( R. M. Pr emk\ . l . mar ) ~ . .
Chi ef EXec~t i ve Of i ceF;
MlbC;~:~a-400093 .
To,
Al l
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Al l
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Heads of t he Depar t ment s ,
Regi onal
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O: f f l cer s ,
Execui i veEI l gi r i eet - . s .
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mvs:2181984:
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Extract fromthe sub-p~a (i) of para 3of
Resolution No.1625passed in themeet.:i,.ngheld
on23-2-1981.
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i) Whereanindividual or proprietor takes
oneor morepartners (all of them~eingnatural persons)
"-' , il(;~ cci t, .ir,tcrcst in trie capital of the new
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r:xplJ .r,ation ; Theterm'partner::~hipfirm'
in this as wel.l, as other clauses whichf'cLlowshall
,
becomprising of.twoor mOreof partners .Anyperson
claiming as I~;}{arta"of HinduUndiv?:.dedFamilT-etcli
wouldnot normally beaLl.owed'tobe inducted as
'partner' in <3 ;. partnership firmwithout adequately'
SFlfe!J 11..qT.-CUU':;j Il"gai.I'l:5-\:. ,,:ny f U. ~. ,:tL ~{A.b~~v'siePl err tlo,e
possibility of Corporation's. involving itself into
internal litigations of H. U. ' !? In t. . . hecase of Trust,
wh'2therpubl ic cr private, thepermission maY 2~ranted

, ,. :,,)!~t" " ITrustI p~r se. Inthecase of suchTrust,


my trdnsfer involved in appointment of anew
Trustee wouldbeconsi6ered as afonnal transfer.
"Minors/.couldbeadmitted'for thebenefit of the
partnership andonattaining majority, their inclusion
in the partnership wouldbedeemedto beaformal
transfer.
. I N D M NI T Y BON D
THISDEEDOFINDEMNITY madeat Bombay,this
dayof
,
one that'sandnine hundred andei<,!thty
;<. ::. ,. , ' . - between SHRI/S~VASHRI., -,~.f , . . . . ,. ~
. . . . . . . . . . . . . ~ ,; ,. ~~, , .
~.. carrying onbusiness
in partnership under the firmnameandstyle of
MESSRS.
. andhaving his/their office
u. - t. ~. , ~ o
... ........ (hereinafter called
" t.h party/parties of First Part") of the OnePart an~d
i' i .l~1,ir:lshtraIndustriC1l DeveLopment; Corporation (herein-
after called "the Corporation") of the Other Part.
WHEREAS the Corporation has set upan
Industrial Areaat knownas .
Industrial Area.
ANDWHEREAS by-.anallotment lett~r-dated the
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dayof . the Corporation allb'Eted
plot No.~ from Industr:ial Area
containing byadmeasurement 'squars metres
or t.hereebout.s to.the said party/Parties, of the First
Part.
f\ ;j:) WHERE,~\~-; the Pc.rty/Fartit-;s of the First PClrt
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~. . . requested theCcrpor,:'-
ti OJ -) 1:.<, execute the Agreement to Leasein respect of
the said Plot No. ', ~infavour ,~,f ~
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e-. eo -. r: . . !_.,..~.~.,.,~ .IItA!. - ~" " - ~ ' and
himself as Karta of H.U.F.
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agreed to cxecut~
j,' Lee:' ::,:j' :' jn favour of Sarvashri .
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Par'ty/par~ies o'f the First Part \\ril~ not; sub-divide
,
the( Pj,:ot by metes - ;a'ndbciunds ',<;xcep't,wi ththe prior
pe:dni~'s.:Lonof:-tnc Corporatiop and according to the
Building'Regulations of'the.Gorpora:tionto,a.ccornmoda,te
the merr' J 4~d:,6" f' ~:e H.0.F~in case the'H.'tr'.l;!. is dd..lided
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!\lowTins DEED,.]I':I'NESSETH"t.'1a>t, . Ln pursuance of
the said Corporation.Cl;,grecd .. ng" ; ,to~x:~cute,A'greement to 'Lease
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with'pq!~h/p~rties, of, th~First P~rt',wQ)J cl1ip<;:l,ude
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Katt9," 9f H. :P;F as.onet,9. thepcirtnetapd :!,nc:ons'i'dera'::',
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r:,: ,tiora o'f.':the --pretj1ISeS the,/partwPP..ar_t:tes of; ,.ttte:,:Fip..s.t .
...~'i~~~~!~~~5;\~i~~~~~1}~r~~~~~~.i~~~~l~nd )\e~
j:,,;,. mgef((~l,' f :~arrd.9qrporfltion'.from -or,: ?g,9:ns.t.any., ",_
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with prior permission of the
.Sl.GJ ~Er)
ofthc
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' ,f' :0 DSLlVER~Db. z party/~~~t.i,~:~
First Part :3HRII'SARVASH~I-.:., ,
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