LLP Deed of Cancellation Quiz

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THIS DEED OF CANCELLATION is made at Kalyan on this ___ day of _____________, 2022 BETWEEN M/S. TYCOONS AVANTI PROJECTS LLP

M/S. TYCOONS AVANTI PROJECTS LLP, a Limited Liability Partnership incorporated under the provisions of the Limited Liability Partnership Act 2008, having its office at: Spring Avenue, 2nd Floor, Club Road, Barave, Khadakpada, Kalyan (W) 421301 through its partners (1) M/s. Tycoons Realties LLP and (2) M/s. Tycoons Ventures LLP (Formerly known as M/s. Tycoons Buildcon LLP) hereinafter referred to as “THE PARTY OF THE FIRST PART”

AND MR. MANOJ SHANTARAM CHAUDHARI, PAN NO. AIKPC5633R Age: 36 years, Occupation: _________ having their address at 701, Building No.2, Nilkanth Park, Phase -2, Wayle Nagar, Kalyan (West) - 421301, Maharashtra, India, hereinafter referred to as “THE PARTY OF THE SECOND PART”

(which expression shall unless repugnant to the context and meaning thereof shall include the ______ for the time being constituting the said firm M/s. Tycoons Avanti Projects LLP, survivor or survivors of them and their respective heirs, executors and administrators of such last survivor) of the FIRST PART

(which expression shall, unless it be repugnant to the context or meaning thereof, mean and include his/her/their ______ and assigns) of the SECOND PART.

WHEREAS the Party of the First Part has executed an Agreement For Sale dated ______ in favour of the Party of the Second Part for the property more particularly described in the Schedule hereunder written for total consideration amount of Rs.57,82,121/-

The possession of the said Flat/Apartment remains exclusively with the Party of the First Part. AND WHEREAS the co-applicant namely Mr. Shantaram Babulal Chaudhari, as mentioned in the said Principal Agreement expired on ______.

The Party of Second Part is facing ______ difficulty and therefore the Party of the Second Part have requested to the party of First Part to cancel the allotment of the said Flat/Apartment as he is unable to make the outstanding payment.

Therefore, the Party of the Second Part has requested to the Party of the First Part for the cancellation of the said Principal Agreement which is duly accepted by the Party of First Part. AND WHEREAS the parties hereto have decided to ______, cancel and put an end to the said Principal Agreement and are desirous of recording the same in writing being these presents.

The Party of the Second Part is unable to pay the outstanding amount against the said Flat/Apartment as he is facing ______ problem.

Therefore, the Parties of the Second Part have informed and requested to the Party of the First Part for Cancellation of Agreement for Sale of the said Flat/Apartment. Accordingly the Party of the First Part and the Party of the Second Part have decided to ______, cancel and put an end to the Agreement for Sale which is registered before the Sub-Registrar of Assurances of Kalyan at Sr. No. 5897/2018 on dated 15/06/2018

The Party of the Second Part shall handover all the original documents pertaining to the said Flat/Apartment such as the said Principal Agreement, allotment letter, and/or any other original documents in his possession to the Party of the First Part on or before the execution of this ______ Deed.

Further it is represented by the Party of the Second Part that the co-applicant Mr. Shantaram Babulal Chaudhari as mentioned in the ______.

Description

Test your knowledge on the deed of cancellation for a Limited Liability Partnership (LLP) as per the provisions of the Limited Liability Partnership Act 2008. This quiz covers the key components and legal aspects of LLP deed cancellation.

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