KNOWALLMENBYTHESEPRESENTSTHAT we the _________________________________________ ( Name of the organization as in Registration Certificates) an association egistered under the Societies Registration Act, 1860 having been registered by the Office of______________________________________(Name and full address of Registering Authority), vide Registration Number _______________ dated________ Office at_______________ in the State of ______________ (herein after called the obligor/obligors) are held and firmly bound to the President of India ( hereinafter called the Government ) in the sum of Rs.____________ (in words ₹___________only ) with interest therein @10% per annum well and truly to be paid to the President on demand and without demur, for which payment we bind ourselves and our successors and assigns by these presents.
SIGNED this ___________________ day of __________ in the year Two thousand and____________________.
WHEREAS the obligors has sent a request proposal to Government, through the Union Ministry of ____________ for Grants of ₹_________ vide his letter number________________ dated; the obligors has agreed to execute this bond in advance, in favour of Union Ministry of ___________________ for entire amount of ₹____________ as requested in the proposal sent to the Government. The obligor is willing to accept the proposed amount or any other amount approved/sanctioned by the Government. The obligor is willingly executing this bond of proposed amount with the stipulation that obligor will be bond up to this amount or by the actual amount approved/sanctioned by the Government,
whichever is less. The obligor is also willing to accept all terms and conditions mentioned in the “Letter of Sanction” to be issued by the Government.
Now the condition of the above written obligation is that if the obligors duly fulfill and comply with all the conditions mentioned in the letter of sanction, then above written bond or obligation shall not be enforceable. But otherwise it shall remain in full force and virtue. If a part of the grant is left unspent after the expiry of the period within which it is required to be spent, the obligors agree to refund the unspent balance along with interest at the rate of 10% (ten percent) per annum unless it is agreed by the sanctioning authority to be carried over to the next financial year. The amount of grant shall be refunded along with interest earn thereon.
The Society/Trust agrees and undertakes to surrender/pay to Government the monetary value of all such pecuniary or other benefits which it may receive or derive/have received through/upon unauthorized use (such as letting out premises for adequate or less than adequate consideration or use of the premises for any purpose other than that for which the grant was intended) of the property/building or other assets created/acquired/constructed largely from out of Government grant. The decision of the Secretary to the Government of India in the Ministry of ___________________Department of _______________ or the administrative Head of the Department concerned shall be final and binding on the Secretary/Trust, in respect of all matter relating to the monetary value mentioned above to be surrendered/ paid to the Government.
The member of the executive committee of the grantee will
- abide by the conditions of the grants in aid by the target dates, specified in the letter of sanction and
- not divert the grants or entrust execution of the scheme or work concerned to other institution (s) or organization (s); and
- abide by any other conditions specified in the agreement governing the grants in aid.
In the event of grantee failing to comply with the conditions or committing breach of the conditions of the bonds, the signatories to the bonds shall be jointly and severally liable to refund to the President of India, the whole or a part amount of the grant with interest @10% per annum thereon.
AND THESE PRESENTS ALSO WITNESS THAT
- The decision of the Secretary to the Government of India in the Ministry of ___________ Department of ____________ on the question whether there has been breach or violation of any of the terms and conditions mentioned in the sanction letter shall be final and binding on the obligors; and
- The Grantee/Obligors shall bear the stamp duty payable on these bonds.
In witness whereof those present, bond has been executed as under on behalf of the obligors and day herein above written in pursuance of the Resolution No.______ dated _______ passed by the Governing Body/Executive Committee of the obligors, a copy whereof is annexed hereto as Annexure B.
Signature of the grantee
Name of the Obligor Association, as
- 1. Registration Number of Association Registered. Full Mailing Address
- 2. Date of Registration _________________ Telephone Number/Mobile No._____
- 3. Registration Authority (RA)___________ E-mail address (if available) _______
- 4. Mailing Address (RA) FAX No.__________
- 5. Telephone Number/Email etc. of RA_____
( in the presence of ) Witness name, address and signature
- (I) __________________________________
(Sign) Accepted for and on behalf
of the President of India
Name & Address