Partnership Deed

PARTNERSHIP DEED
rHIS DEED OFPARTNERSHIP made this 30th day of March, Two Thousand
Sixteen between and amongst:
1 Shri --- Slo --- R/o, hereinafter called the first party:
2. Shri --- S/o --- R/o, hereinafter caled the second party
3. Shri -- Slo --- Rlo, hereinafter caled the third party.
and these expressions shall include the legal heirs, agents, assigns and
representative of respective parties.
WHEREAS the parties hereto were carrying on the business of Buiklers,
Contractors, Developers, Interior Decorators&& Designers under the name & styBe
of M/s.--. -in terms of Partnership Deed dated 30.04.2013,
And WHEREAS due to require ment of huge funds in carrying on business
same business
smoothly the parties hereto have mutually decided to carry on the
under the follbwing terms &
under the name and style of M/s.
partners.
conditions, which have mutualy been decided between
WITNESSES AS FOLLOWS:
NOW THIS DEED
1. NAME:
name
That the business of the partnership tm shal be carried onunder the
MIS .--and/or in such other name or names as may
and style of
mutualy agreed upon by the partners between themselves from time to
be
time.
2. SITUATION:
place offbu_iness of partnership firm shall be at
Thatthe principal other place as may be
and/or at such mutualy agreed upon between all
the partners.
COMMENCEMENT:
Partnership firm shall be
3.
Thatthe
present deemed to have
30th dayof
MARCH2016.
INVESTMENT:
commenced from
365
4.
That the capital required for the business of the partnership shal be
contrbuted by the partners in such a manner and in such proportion as may
be mutualy agreed upon from time to tme.
5. OBJECTS:
That the business of the partnership firm shall be to act as Buiklers
Contractors, Devekopers, Interior Decorators & Designers and/or any other
business or businesses as may be mutually agreed upon time to time.
6. PROFIT SHARINGRATIO:
That the profits or losses including capital profits/ losses after accounting for
all the expenses shall be divided or borne as the case may be as under:.
S.NO. NAME IN THE CASEOF PROFIT/LOSS
1. Si -----
2. Si ---
3. Sn ----
7. BOOKS OF ACCOUNTS:
That al necessary books of account of the partnership firm shall be
maintained and kept at the principal place or places of the busincss or
businesses or at some oher place or places as may be agrecd upn among
the partners from time to time. Annual cksing of the business shall bc on 31
March each year, when accounts will be settled and Bakance Shcct und
Profit & Loss Alc. prepared and appended by the Partners which shall be
final and concusive.
8. BANKER:
That the frm shall maintain one or TKrC than one banking account with o
or more than one banks as may be decKed by the partners and such icConM
or accounts of the partership firm shal be operated u«n Mhklwvy
power to over draw any such accnnt/accon1nts as may bx HHtually apeed
upon among the parties of as per ivstrwisa» o the bank tran tue wtw
9. BORROWING POWERS:
That the firm is entaed to borrW IKSNy IrHn banks on fuam al
or raise funds frosn the market for carryiny
li
Partnership Deed (Conveyancing)

firm on such terms and conditions which are beneficial to the partnership
nfirm after the partners unanimously agree to do so and the same shall be
binding upon all the partners. However no partner shall raise any loan in the
name of the partnership for his personal use and in case he does so none shall
be responsible for the repayments and interest thereon if any.
10. RETIREMENT: os
may do so by
That the partner wishing to withdraw from partnership firm
writing and on expiration
giving to the other partners one month's notice in
stand retired without dissoBving the
of such notice period, the partner shall
remaning partners.
firm which shall continue to function with the
PARTNERS:
11. DUTIES OF
partner shall be just and faithful to the other partners in all
That each
the partnership business and at all time give to the
transactions relating to
partners true account of all such dealings.
other
12. ARBITRATION:
may arise betweenthe parties concerned or in any way
which
That all dispute business and whether during the continuation
partnership
connected with the determination and whether in relation to the
partnership or after its
of matter whatsoever touching the
these presents or any other
interpretation of
referred to a solee Arbitrator to be appointed with
shall be
partnership affairs, partners. If no such arbitrator can be appointed
consent of all the
the mutual be settkd according to the Arbitration and Conciliation
dispute shall
then the modification thereof as may be in force at the relevant
and such
Act, 1996
13.time.
POWEROFATTORNEY
parties are hereby authorisedIto do all acts on behalf of the
the
orall
Thatany necessaryfor the smooth conduct of the business and
which are
to deal
firm behalf of the firm in connection with
Income
on Bank, Post Office,
act Sales Tax and other departments and commercial associations.
andTax,
with
They areinI
the ike manner authorised to file, conduct and withdraw
367
Partnership Deed (Conveyanc ing)
proceedings, to make statements as solemn affirmation and otherwise act
therein on behalf of the firm in any court of law, to verify income tax returns
and Memorandum of appeas, to get refund etc. and to refer any matter to
arbitration.
14. That in case of death, retirement, insolvency and/or any other such events of
any of the partner, the firm shall not be automatically dissolved but
continue and the remaining partners shall be legally authorised to carry on
the business with existing or any other new partner/partners as the case may
be.
15. That no partner shall without the prior consent in writing of the other
partners assign, transfer or mortgage his share or interest in partnership or
introduce any other person as a partner with him there in.
16. DURATION:
That the partnership shall be AT WILL' and subject to the Indian Partnership
Act, 1932.
17. MUTUAL CONSENT:
That in al matters not covered by the ternms of this agreement, mutual consent
of all the partners shallprevail.
IN WITNESSES WHEREOF all the parties referred to hereinabove have set
their respective hands, the date, month and year first above written in the
presence of the witnesses.
SIGNATURE OF PARTNERS
WITNESSES
1 1.
2. 2.
3.
368

Partnership Deed

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PARTNERSHIP DEED

Partnership Deed (Conveyancing)

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