by Debtor and Surety for Existing Liability
bond is executed on this
. jointly by :
Mr. HR s/o BS r/o
, hereinafter called the debtor and
Mr. RM s/o RM r/o
.., hereinafter called the security.
Mr. HR has borrowed a sum of Rs
from Mr. JS s/o Mr. BS r/o
.with an interest on 18% per annum.
the said sum was to be refunded alongwith interest latest by
the debtor failed to return the principal amount and interest within time.
the creditor has agreed not to institute a civil suit for recovery of the said
sum, provided some body stands as surety.
RM, above named, stand a surety and give this bond after the signature of
debtor and myself and agree that the debtor shall pay the said sum in 12
monthly instalments alongwith interest at the rate of 24% per annum.
further agree that in case of failure to pay the money by debtor in time, the
whole amount shall become payable at once.