Indemnity Bond

Querist : Anonymous (Querist) 04 February 2011 This query is : Resolved
As per M.C.S. Act 1960 elected committee member has to submit an 'Indemnity Bond' in form M-20 to the society within 15 days of taking charge.

On how much Rupees stamp paper , this is to be prepared ? Is it necessary to execute the same before a Magistrate or Notary?

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Basavaraj (Expert) 04 February 2011
Print it INR 200/- stamp paper and get it signed by both parties along with two witnesses.

There is no mandatory to get notarized or signed by Magistrate.

Just execute the deed on 200 stamp paper.

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