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Deed of Dissolution of Partnership (Involving immovable property) Download Word Document In English. (Rs.30/-) Download PDF Document In Hindi. (Rs.30/-) Download PDF Document In Marathi. (Rs.30/-) This Deed of Dissolution Is made at ... this day ... between Mr. A residing at ... hereinafter referred to as 'the Party of the First Part' and Mr. 'B' residing at ... hereinafter referred to as 'the Party for the Second Part' and Mr. 'C' residing at ... hereinafter referred to as 'the Party of the Third Part,' Whereas the Parties hereto have been carrying on business of... in partner- ship in the Firm name of M/s. XYZ & CO on the terms and conditions recorded in the Deed of Partnership dated ... entered into by and between the parties hereto. since the ... day of ... And Whereas as certain differences have arisen between the parties hereto (or as the parties do not desire to continue the said partnership for diverse reasons the parties) have agreed to dissolve the said partnership as from the ... day of ... on the terms herein recorded. And Whereas the assets of the partners consist of       i.                     the land and premises purchased and belonging to the Party of the First Part and brought in by the Party of the First Part as his contribution to the capital of the Firm      ii.                     the lands and premises described In the Second and Third Schedules hereto purchased or otherwise acquired by the Firm in the course of Its business.     iii.                   and the goodwill, the stock-in-trade, furniture and other articles and things and bank balances and outstandings. And Whereas accounts of the partnership business have been made upto the date of dissolution and the total value of the assets have been ascertained to be Rs... including Bank balances, and outstanding debts and excluding therefrom the debts and liabilities of the Firm. And Whereas each partner is entitled to an equal share in the assets and profits of the firm, under the said Deed of Partnership. And Whereas it is agreed that the property described In the First Schedule will be returned back to the Party of the First Part in lieu of his share In the said assets, the property described In the Second Schedule will be assigned to the Party of the Second Part in lieu of his share in the said assets and the property described in the Third Schedule will be retained by the Party of the Third Part in lieu of his share in the said assets. And Whereas for equalisation of shares the Party of the Third Part will pay to the Parties of the First and Second Parts in cash a sum of Rs... in the manner hereinafter provided. -- And Whereas it is agreed that the business of the firm will be continued by the Party of the Third Part alone in the same name and he will be entitled to retain not only the property described in the Third Schedule but all the stock-in- trade, furniture, articles and moneys in lieu of his share in the assets subject to payment of the said sums payable to the Parties of the First and Second Part and subject to all debts and liabilities of the Firm and that the Parties of the First and Second Part will be deemed to have retired from the partnership And Whereas the parties have agreed to record the terms of and effectuate the dissolution of the Firm In the manner following. Now this Deed Witnesseth as Follows: 1.     It Is agreed and declared that the partnership between the parties hereto in the name of M/s ... be and it is hereby dissolved with effect from the ... day of .………………, 2000. 2.     The accounts of the business and assets, profits and losses of the said partnership firm till the date of dissolution have been made and settled and signed by the Parties and the Parties confirm the same and except as hereinafter provided no party is liable to the others in respect thereof. 3.     The business of the Firm shall be continued to be carried on by the Party of the Third Part alone and as the sole proprietor thereof as from the said date and the Parties of the First and Second Part shall be deemed to have retired from the partnership and shall have no claim thereto except to the extent hereinafter mentioned. 4.     The property described In the First Schedule hereto shall cease to be a part of the assets of the Firm and shall continue to belong to the Party of the First Part in his own personal capacity and the Parties hereto of the Second and Third Part hereby release and renounce all their right, title and Interest therein or thereto as partners of the Firm. 5.     The property described in the Second Schedule hereto shall also cease to be a part of the assets of the Firm and shall belong to the Party of the Second Part alone and in his own personal right and the Parties of the First and Third Part hereby grant, transfer and release all their respective shares, right, title and interest therein together with the appurtenances thereto To Have and To Hold the same unto and to the use of the Party of the Second Part absolutely subject to the payment of the taxes, rates, assessments, dues and duties payable in respect thereof to the Government or Municipal Corporation or any other public body. 6.     The Parties of the First and Second Part also release or renounce in favour of the Party of the Third Part all their share, right. title and interest, claim and demand in or to the stock-in-trade. furniture and other articles and moneys belonging to the Firm, the goodwill, thereof and in or to all the debts and outstandings belonging to the Firm. 7.     The property described in the Third Schedule hereto shall belong to the Party of the Third Part alone and the Parties of the First and Second Part hereby grant, transfer and release all their respective shares, rights. title and interest therein To Have And To Hold the same unto the use of the Party of the Third Part absolutely subject to the payment of all the taxes, rates, assessments, dues and duties In respect thereof payable to the Government or the Municipal Corporation or any other public body. 8.     The Party of the Third Part agrees and covenants to pay to each of the parties of the First and Second Parts a sum of Rs... by quarterly equal instalments with Interest thereon at ... % p.a. the first of such instalments to be paid on the ... day of ... and each subsequent instalments on the ... day of each subsequent quarter provided that in default of payment of any two instalments the whole of the said amount or any part thereof then remaining due shall become payable forthwith and provided further that, the payment of the said amounts shall remain charged on the property described in the Third Schedule hereto and allotted to the Party of the Third Part. 9.     The Party of the Third Part covenants with the Parties of the First and Second Part that he will pay and is liable to pay all the debts and liabilities of the Firm subsisting on the date of dissolution including liabilities of Firm's income-tax and other taxes and Government dues and shall indemnify and keep indemnified the Parties of the First and Second Parts against the said liability and against all loss, costs, charges and expenses incurred by any of them on account of such debts and liabilities or any of them or any part thereof being required to be paid by them or any of them. 10.  Each of them the Parties hereto hereby releases the other or others from all proceedings. accounts, claims and demands in respect of the said partnership but without prejudice to any rights or claims and remedies in respect thereof under these presents. 11.  The Parties of the First and Second Part hereby jointly and severally appoint, nominate and constitute the Party of the Third Part their attorney or agent with authority to collect all the assets and property of the partnership and to ask, demand, sue for and recover and receive and to sign and give discharge for all the debts. estate and effects or other moneys due or owing or in any wise belonging to the said partnership and to settle accounts. reckoning, matters and things whatsoever relating thereto and to compound or release all or any of the debts or claims belonging to the partnership and to Institute any suit or legal action or other proceedings for compelling payment, discharge or delivery of any moneys or other property belonging to the partnership and for any of the purposes aforesaid from time to time to appoint any substitute or substitutes and at any time to remove him or them, to sign, declare pleadings. applications and other papers as may be required for the purpose. and generally to do all such acts and things as may be necessary or expedient for the purpose of recovering All debts and liabilities of the Firm or for vesting in the Party of the Third Part the premises hereby assigned or released to him. 12.  The Parties of the First and Second Part shall not for a period of one year from the date hereof carry on or engage or be concerned or interested either directly or indirectly in the same business carried on by the said partnership in the city of ... 13.  The benefits of or rights to all permits licenses held by the said Firm shall belong to the Party of the Third Part alone and the Parties of the First and Second Part will have no right or claim thereto. 14.  Each of the parties hereto agrees and undertakes to sign all applications. documents, and other papers as may be. required to properly transfer the properties and other assets allotted, assigned or released to the other or others including all licenses and permits in the Government or Municipal records or otherwise but the costs, charges and expenses in respect thereto will be borne by the party requiring such documents to be signed. 15.  Each of the parties hereto assures the others that except as recorded in the books of account of the Firm and other record, any of them has not received. collected or discharged or compromised any claim demand or credit due or to become due to the Firm or incurred any debt or liability or obligation that may now or hereafter directly or indirectly charge or affect the partnership or any of Its property and assets. 16.  The notice of the dissolution of the firm in the prescribed form will be given by the Party of the Third Part within prescribed time as required by the Partnership Act and Rules made thereunder and the Party of the Third Part will publish the dissolution in the Government Gazette as early as possible. 17.  All the expenses of and incidental to stamp and registration of this Deed will be borne by the parties hereto in equal shares. 18.  The original of this Deed will remain in the custody of the Party of the Third Part and will be produced by him to the other or others whenever required for inspection or production before any Court. any Govt. Officer, Central or State, including the Offices of the Income tax and Sales Tax Department. One duplicate signed copy of this Deed will remain with each of the other two parties hereto. 19.  Notwithstanding anything hereinbefore contained all the liability for income-tax on the personal Income including capital gains tax of any party hereto including any interest thereon and penalties imposed In respect thereof incurred before dissolution or after will be that of the party whose Income it is and such party shall indemnify and keep indemnified the other parties against such liability and costs. charges and expenses incurred on that account. IN WITNESS WHEREOF the parties have put their respective hands the day and year first hereinabove written. THE FIRST SCHEDULE ABOVE REFERRED TO THE SECOND SCHEDULE ABOVE REFERRED TO THE THIRD SCHEDULE ABOVE REFERRED TO Signed and delivered by the withinnamed Party of the First Part Mr. A in the presence of Signed and delivered by the withinnamed Party of the Second Part Mr. B in the presence of Signed and delivered by the withinnamed Party of the Third Part Mr. C in the presence of

Notice of Retirement by One Partner to Other Partners Registered A.D. Date ....................... To, 1.     .................................      ................................. 2.     ..................................     .................................. Dear Sir, I hereby give you notice under clause ...................... of the Deed of Partnership dated ......................... executed between me of the One Part and you both of the Second and Third Parts that 1 intend to retire from the partnership between us with effect from .............................. Yours faithfully, ....................... A Date: .......................... Download Word Document In English. (Rs.30/-) Download PDF Document In Marathi. (Rs.15/-)

Partnership Agreement between Two Limited Companies This Deed of Partnership is made at... on this.. day of.. between M/s. A B & Co. Pvt. Ltd., a Company registered under the Companies Act, 1956. and having its registered office at ... hereinafter referred to as the, Party of the First Part. and M/s. X Y Z & Co. a Company registered under the said Act and having its registered office at ... hereinafter referred to as the 'Party of the Second Part'. Whereas both the parties of the First Part and of the Second Part are, under their respective Memorandum of Association, entitled to carry on the business of producing electricity and supplying the same to any area. And Whereas both the Parties of the First Part and Second Part are entitled to enter Into partnership with any person or persons including a company for carrying on the business authorised by their respective Memorandum of Association. And Whereas the parties hereto have proposed to set up in joint collaboration a plant to produce electricity and supply the same to the town of ... and to enable them to pool together their finances and technical expertise they have therefore proposed to enter into a partnership. And Whereas the parties have obtained license or permission of the Govt. for producing and supplying electricity to the said town. And Whereas it is, therefore, proposed to enter into this deed of partnership containing the terms and conditions agreed upon between the parties. Now it is agreed by and between the Parties hereto as Follows:- 1.     The parties hereto agree to carry on the business hereinafter mentioned In partnership on the terms and conditions herein mentioned, In the name and style of M/s……………….. 2.     The partnership shall commence from the ... day of... and the period of the partnership shall be for a period of ten years from the date hereof. The said period may be extended as the parties may by mutual consent decide. 3.     The business of the partnership (hereinafter referred to as the 'Firm') consist of setting up a plant for manufacture or production of electricity on grid system and to supply-the same to the town of .………… 4.     The office of the partnership shall be at …………….... The parties will open branches at such other places as may be agreed upon. 5.     The parties have contributed towards the initial capital of the firm a sum of Rs... in equal shares. The partners will contribute such further amounts towards the capital of the firm in equal... shares as may be required from time to time. If any partner shall contribute more amount than Its share In the capital It will be treated as a loan by it to the Firm carrying Interest at the maximum rate allowable as deduction under the Income Tax Act. 6.     The net profits and losses of the Firm will be shared by the partners hereto in equal shares or proportion. Net profit will mean gross profit earned in each year less the expenses of the management of the business including the rent of the premises of the Firm including outgoings In respect of the salaries and wages of the staff, commission paid to others, and all other expenses Incurred In connection with the business of the firm and all other expenses as may be allowable as deduction under the Income Tax Act. 7.     The accounting year of the Firm will be from 1st April to 31st March of each Christian calendar year. 8.     At the end of each accounting year an account of the business carried on in that year will be made and a statement of accounts namely a Balance Sheet and Profit and Loss Account will be prepared and signed by the partners. The accounts will be got audited by a Chartered Accountant every year. 9.     The Managing Director or any other authorised representative of each of the parties hereto will represent his company on the Firm and for all practical purposes he will be considered as the partner of this partner- ship. 10.  The books of accounts and all other record of the Firm will be always kept at the office of the Firm and will be open for inspection by any of the partners hereto at any time. 11.  All the working staff such as clerks, peons, accountants, cashier, technicians, salesmen and others will be appointed by the joint consent of the parties hereto and their wages and salaries and other emoluments will be fixed by mutual consent of the parties hereto. 12.  Each of the Parties hereto shall - a.     participate and attend to the business of the Firm through their respective Managing Director or authorised representative for the time being to the greatest common advantage of the Firm. b.    be just and faithful to each other. c.     render true accounts and full information of all moneys affecting the Firm to the other, d.    indemnify the Firm for any loss caused to it by wilful negligence or fraud in the conduct of the business. e.     attend to the business of the Firm diligently and actively. f.     not withdraw any amount for its own profit, benefit or use as remuneration or otherwise without the consent of the other. g.    be entitled to be indemnified by the Firm in respect of payment made and liabilities incurred by him                       i.        in the usual and proper course of business of the Firm. and                      ii.        in doing any act for protecting the Firm from loss in emergency. 13.  All the tangible and Intangible assets of the Firm including the goodwill, stock in-trade, benefit of business licenses and permits, benefits of contracts entered etc. In relation to the said business will belong to the Parties In equal shares and the property of the Firm shall be used by the parties exclusively for the business of the firm. 14.  Every party shall account for the profits earned from any transaction of the Firm or for the use of the property in business transaction of the Firm. 15.  Any party hereto shall not, without the consent of the other and in respect of or relating to the said partnership business, a.     submit any dispute with any other person to arbitration or com- promise or relinquish any claim, b.    withdraw any suit or legal proceedings filed by the Firm, c.     admit any liability of the Firm, d.    acquire or dispose of any immovable or moveable property, except the stock In trade in the ordinary course of business. e.     assign or transfer Its share or any Interest in the Firm, (f) admit any person as a partner In the Firm, f.     borrow any moneys for or in the name of the Firm, or create any security or charge on the assets of the Firm, 16.  The Parties shall open one or more accounts either current, saving or overdraft or cash credit with one or more banks as may be agreed upon by the Parties and the account or accounts will be operated by the Managing Director or other authorised representative of each of the Parties hereto. 17.  No party hereto shall be entitled to dissolve the partnership before the expiration of the said period aforementioned. 18.  If any party does not desire to continue the partnership or if any party goes Into winding up voluntarily or through Court, the other party hereto will be entitled to take over the entire business together with all assets and subject to all liabilities at a valuation to be made through the Chartered Accountants of the Firm and the share of the former Party will be paid by instalments as may be agreed upon or decided by Arbitration. 19.  On the expiration of the said period of ten years or the extended period if any, the business of the partnership together with its assets and liabilities will be transferred to another company to be formed and registered jointly by the parties hereto on such terms as may be agreed upon failing which the partnership will be dissolved and the dissolution will be effected In terms of the provisions of the Partnership Act, 1932. 20.  If any dispute or difference shall arise between the parties hereto touching the business of the Firm or interpretation of any provision hereof, or otherwise. however relating to the Firm and its business, the same shall be referred to arbitration of a common arbitrator if agreed upon. failing which to two arbitrators one to be appointed by each party to the arbitration and the arbitration shall be governed by the Arbitration & Conciliation Act, 1996. 21.  The parties shall. as early as possible but in any event within the prescribed period get the Firm registered under the Partnership Act, 1932 and the Income Tax Act. 1961. 22.  Nothing In this Deed shall be constrained to prevent or disable any party hereto to carry on any business in terms of Its Memorandum of Association anywhere except the business of the partnership and no partner shall be entitled to have any right or concern with the other business and internal management of the other. 23.  This Deed is executed in duplicate and one copy will remain with the Party of the First Part and the other will remain with the Party of the Other Part. IN WITNESS WHEREOF the parties have put their respective hands the day and year first hereinabove written. Signed and delivered for and on behalf of the withinnamed M/s. A B & Co. Ltd., by its Managing Director, Mr ...... duly authorised In that behalf by the Board of Directors. In the presence of ... Signed and delivered by the withinnamed M/s. X Y Z Co. Ltd., by Its Managing Director Mr .... duly authorised by the Board of Directors, Mr ........ In the presence of ... Download Word Document In English. (Rs.30/-) Download PDF Document In Marathi. (Rs.30/-)

Partnership Agreement between Advocates This Deed  of Partnership made at ........................ this ............... day of .........................., 2000, between A son of ............................ resident of ........................... of the FIRST PART, B son of ........................ resident of ................. of the SECOND PART, C son of ....................... resident of .................. of the THIRD PART, and D son of ................... resident of ............... of the FOURTH PART. WITNESSETH THAT the parties hereto shall be and become partners on the following terms and conditions: 1.     The said partners will carry on the business of Advocates in partnership at ............... under the name and style of M/s. .................................................. with effect from ............. 2.     The partnership shall be for a period of ................ years unless previously determined in the manner hereinafter provided. 3.     The capital requisite for carrying on the partnership business is Rs. ...................... which shall be contributed by all the partners equally. Any further capital required from time to time shall be contributed by the partners in equal shares. 4.     The partnership firm shall open an account with .................. Bank ................................... Branch ............................... or such other bank as the partners shall from time to time agree upon. 5.     All partnership moneys, cheques, pay orders, demand drafts and other instruments for money shall as and when received be paid into or deposited in the bank to the credit of the partnership account. The moneys received by the firm or any partner on behalf of the firm of any client or third person shall forthwith be deposited in the said bank to a separate clients account to be kept by the firm. 6.     Proper books of account and diaries shall be kept by the partners at the business premises and the same shall be available for inspection by all the partners at all times. 7.     Each partner shall make full and proper entries of all business transacted by him on account of the partnership and cheek up the bills for all such matters. 8.     Each partner shall devote his whole time and attention to the partnership business and no partner shall, without the consent of the other partners engage in any other business or hold any office or appointment, provided that each partner can provide free and voluntary service to his friends or relatives. 9.     Each partner shall be entitled to ...................... days holiday in each year, and to absent himself from business to ................... days consecutively or otherwise in each year. If the period of absence of any partner exceeds ................ days, his share of the net profits of such year shall be considered as divided into 365 parts and for every day on which such partner shall have been absent in excess of such .............. days, one of such parts shall be divided equally between all the partners for the time being (including the partner so absenting himself). 10.  Each partner shall be entitled to draw a sum of Rs. ................. every month on account of his accruing share of the net profits for the current year. If in any year the aggregate amount drawn out by any partner shall be found to exceed the amount of his share in the net profits on taking of the annual account, he shall forthwith repay the excess to the partnership. 11.  No partner shall pledge and credit the partnership except in the usual and regular course of the business or conduct any business for any person, company or firm, whom the other partners shall have previously in writing, forbidden him to deal with. 12.  The firm shall not charge for acting as Advocates for a partner or the wife or any child or children of a partner or his, her, or their trustees, except out of pocket expenses or costs recovered against other parties in any proceedings or out of any estate or property the subject of any such proceedings and any costs recovered shall be credited to partnership account. 13.  No partner shall without the written consent of the other partners: a.     Engage directly or indirectly in any business other than that of the partnership. b.    Engage or dismiss any clerk, junior or any other employee of the partnership or take any junior, except hereinafter provided. c.     Employ any of the moneys of the partnership or clients or pledge the credit of the partnership except in the ordinary course of business and upon the account or for the benefit of the partnership. 14.  Each partner shall be entitled at any time to receive one junior to enable the latter to qualify as an advocate without paying any premium. 15.  The general account and balance sheet shall be taken and made as at the close of each year ending on the 31st March and after the taking of the account, the same shall be audited by M/s. ..................................... Chartered Accountants, whose audit shall extend to the separate clients account and to all properties belonging to any client which are in the possession or custody of the firm. 16.  The net profits appearing on each such yearly account shall be divided in equal shares and such profits less such sums as may have been previously drawn on account by such partner, may be withdrawn by the partners respectively entitled thereto, as and when there shall be money at the said bank available for that purpose over and above the moneys necessary for the current expenses of the partnership business. However, if on taking annual account, it is found that any partner has drawn out more than the share of profits as ascertained thereby, he shall repay the excess to the partnership within ................. days from the date of preparation of final annual account. 17.  Each of the partner shall be entitled to nominate one son in the partnership business and the nominee will work as junior advocate in the firm at a salary of Rs . ................. p.m. and on the partner retiring from the firm or on death of the partner, the nominee, if then duly qualified as an Advocate, shall be admitted a partner and will be entitled to his appointed share; Provided that if the nominee shall not be duly qualified or shall refuse or have refused by reason of death or otherwise have become unable to accept such nomination and become a partner then in any such case, such nomination shall be void and of no effect and his share shall be dealt with in accordance with the provisions hereinafter mentioned. Upon the admission of any such nominee as a partner, he shall be bound by the provisions of this deed so far as applicable and he shall execute a deed covenant to perform and observe the same, if required by the other partners. 18.  If any partner dies during the continuance of the partnership and his son does not become partner of the firm due to any reason, the share of the partner so dying shall be purchased by the surviving partners and he shall pay the purchase price to the legal representatives of the deceased within three months from the death of the deceased partner. For calculating the purchase price, an account and balance sheet shall be taken up to the day of the death from the last previous annual account and the share in the capital and assets of the partnership including goodwill, office furniture, books and office papers shall be ascertained and the said sum along with the sum which upon '3 0 taking of such account and balance sheet shall appear to be due to the deceased partner in respect of undrawn profits drawn to the date of his death shall be the purchase price. The value of the goodwill of the partnership business shall be taken to be a sum equal to two years purchase of the average net profits of the business for the three years next preceding the date of valuation as appearing from the annual accounts for those three years. 19.  On the death of the partner, the surviving partners will execute in favour of the legal representatives of the deceased partner, indemnity against the debts, liabilities, and obligations and the legal representatives shall also execute proper deeds and other instruments for vesting the share of the deceased partner in the partner or partners entitled thereto under the provisions of this deed. 20.  If either partner shall commit any breach of any of stipulations contained in this deed or if a partner becomes insolvent or shall become of unsound mind or incapacitated from attending to the partnership business for .................. months consecutively or if any partner retires, the partnership shall not dissolve and the provisions contained in clauses 18 and 19 hereof shall apply, provided that on the retirement of any partner from the partnership, he shall enter into a covenant with the continuing partners that he will not open an office or practice in the ................................ city or in or at any place within a radius of ........................ kms. measured in a straight line from ................... either in his own name or as a partner in any other firm. 21.  The notice to the parties under this deed shall be deemed to be duly served, if the same shall be delivered to him personally or sent by post in a registered letter addressed to him at his usual or last known place of abode in India. 22.  If the partnership is determined by a notice by any partner or by any means not hereinbefore expressly provided for then, the partnership shall be wound up and assets distributed as provided by the Partnership Act, 1932. 23.  All disputes and differences which shall arise between the partners or between the partners and legal representatives of one or more partners or between their respective legal representatives and whether during or after the determination of the partnership relating to the rights and liabilities or interpretation of this deed or to any act or omission of either party or matter or things done or to be done in pursuance hereof, such disputes and differences shall be referred to arbitration and award of Shri ............................. and his decision and award shall be final and binding upon the parties. IN WITNESS WHEREOF, the parties have hereunto set and subscribed their respective hands the day, month and year first above written. Signed and delivered by the within named A Signed and delivered by the within named B Signed and delivered by the within named C Signed and delivered by the within named D WITNESSES; 1. 2. Download Word Document In English. (Rs.30/-) Download PDF Document In Marathi. (Rs.30/-)

Partnership agreement between an Individual and a Limited Company This Deed of Partnership Is made at... on this ... day of... between Mr. 'A' residing at ... hereinafter referred to as the 'Party of the First Part' and M/s. A B & Co. Pvt. Ltd., a Company registered under the Companies Act 1956 and having its registered office at ... hereinafter referred to as the 'Party of the Second Part'. Whereas the Party of the First Part owns a large piece of fallow land situated at - and more particularly described In the Schedule hereunder written. And Whereas the said land Is very suitable for carrying on minerals quarrying operations but the Party of the First Part Is unable to carry on the said operations on his own. And Whereas the Party of the Second Part has offered to co-operate with the Party of the First Part in promoting the business of quarrying in the said land. And Whereas the Party of the Second Part has the main object to carry out quarrying operations for acquiring varieties of minerals. And Whereas it is found more convenient to carry on the said business in partnership between the Parties hereto and, therefore, the Parties have agreed to enter into partnership on the following terms and conditions. Now it is agreed by and between the parties hereto as follows: 1.     The Parties hereto agree to carry on the business hereinafter mentioned in partnership on the terms and conditions herein mentioned, in the name and style of M/s... ……………. 2.     The partnership shall commence from the ... day of... and the period of the partnership shall be 'at will'. 3.     The business of the partnership (hereinafter referred to as the 'Firm') shall consist of carrying on quarry operations on the said land by quarrying minerals and selling the same and otherwise dealing with the same. 4.     The office of the partnership shall be at ... The parties may open branches at such other places as they may be agree upon. 5.     The land described in the Schedule hereunder written is valued at Rs... and the said land will be treated as a partnership asset and a contribution of the Party of the First Part to the capital of the Firm. The Party of the Second Part has agreed to bring in an equal amount of Rs... as its contribution to the capital of the Firm. The Party of the First Part will not he bound to contribute any further amount as capital, Whatever additional moneys are required for the business of the Firm the same will be either advanced by the Party of the Second Part as a loan or will be borrowed from any financial Institution or from any other person. The loan advanced by the Party of the Second Part will carry interest at the rate as may be agreed upon and which will not be more than allowed as deduction under the Income Tax Act. If any capital gains tax is required to be paid, by the Party of the First Part for bringing the said land into the assets of the Firm. the same will be paid out of the moneys of the Firm and debited to the capital account of the Party of the First Part. 6.     The Party of the Second Part will be represented by the Managing Director thereof or any other person authorised by him and he will act for and on behalf of the Party of the Second Part in relation to the business of the firm and his acts will be binding on the Party of the Second Part. The Managing Director or other representative nominated by the Second Part will be working or managing partner of the firm and he will be entitled to a remuneration at the maximum rate allowable as deduction under the Income Tax Act. The Party of the First Part will not be entitled to any remuneration. 7.     The net profits and losses of the firm will be shared by the partners hereto in equal shares or proportions. Net Profit will mean gross profit earned in each year less the expenses of the management of the business Including outgoings In respect of the salaries and wages of' the staff, commission paid to others, and all other expenses incurred In connection with the business of the firm, and such other expenses as will be allowed as deduction under the Income Tax Act. 8.     The accounting year of the Firm will be from 1st April to 31st March of each Christian Calendar year. 9.     At the end of each accounting year an account of the business carried on in that year will be made and a statement of accounts namely a Balance Sheet and Profit and Loss account will he prepared and signed by the Partners. If necessary or required by law the Accounts will be got audited by a Chartered Accountant. 10.  The books of accounts and all other record of the Firm will be always kept at the office of the Firm and will be, open for Inspection by any of the partners hereto at any time. 11.  All the working staff such as clerks, peons, accountants, cashier, salesmen and others will be appointed by the joint consent of the Parties hereto and their wages and salaries and other emoluments will be fixed by mutual consent of the parties hereto. 12.  Each of the Parties hereto shall - a.     participate and attend to the business of the firm to the greatest - common advantage of the Firm, the Party of the Second Part participating and attending through Its Managing Director. b.    be just and faithful to each other, c.     render true accounts and full Information of all moneys affecting the Firm to the other, d.    indemnify the Firm for any loss caused to it by wilful negligence or fraud In the conduct of the business, e.     not carry on any business similar to the business of the Firm or any other business anywhere in the district In which the said land Is situate without the consent of the other partner. f.     attend to the business of the Firm diligently and actively, g.    Not withdraw any amount for his own profit benefit or use as remuneration or otherwise without the consent of the other, h.     be entitled to be indemnified by the Firm in respect of payments made and liabilities incurred by him                                           i.    in the usual and proper course of business of the Firm, and                                          ii.    in doing any act for protecting the Firm from loss in emergency. 13.  All the tangible and intangible assets of the Firm Including the said land described In the Schedule hereunder written, the goodwill, stock- in trade, benefit of business licenses and permits, benefits of contracts entered etc. will belong to the parties in equal shares and the property of the Firm shall be used by the Parties exclusively for the business of the Firm. 14.  Every Party shall account for the profit earned from any transaction of the Firm or for the use of the property in business transaction of the Firm. 15.  Any party hereto shall not. without the consent of the other- a.     submit any dispute with any other person to arbitration or com- promise or relinquish the claim, b.    withdraw any suit or legal proceedings filed by the Firm, c.     admit any liability of the Firm. d.    acquire or dispose of any immovable or moveable property, except the stock in trade in the ordinary course of businesses of the Firm. e.     enter into partnership or other business unilaterally with any other person, f.     assign or transfer his or Its share or any Interest in the Firm, g.    admit any person as a partner of the firm, h.     borrow any moneys for or in the name of the Firm, or create any security or charge on the assets of the firm.                                       i.        enter into any contracts except contracts in the regular course of business of the Firm,                                      ii.        (j) stand as a guarantor or surety for any person in the name of the Firm or for and on behalf of the Firm. 16.  If the Partnership is dissolved, an account of the assets and debts and liabilities will be made and after sale of the assets, except the said land, the debts and liabilities will be paid out of the sale proceeds and the balance if any will be divided between the parties in equal shares. The said land as far as possible will be returned to the Party of the First Part. But If the other assets of the Firm, are not sufficient to pay all debts and liabilities then the Party of the First Part will have the option either to take over the said land subject to such liabilities including the amount. If any payable to the Party of the Second Party towards Its share In the assets of the Firm or to allow the said land to be sold for payment of such debts and liabilities and the balance of sale proceeds will be distributed between the parties in equal shares. 17.  If any dispute or difference shall arise between the parties hereto touching the business of the Firm or interpretation of any provision hereof or otherwise, however relating to the Firm and Its business, the same shall be referred to arbitration of a common arbitrator If agreed upon, failing which to two arbitrators one to be appointed by each party to the arbitration and the arbitration shall be governed by the Arbitration & Conciliation Act, 1996. 18.  The parties shall, as early as possible but In any event within the prescribed period get the Firm registered under the Partnership Act, 1932, and under the Indian Income Tax Act, 1961. 19.  This Deed is executed in duplicate and one copy will remain with the Party of the First Part and the other will remain with the Party of the Second Part. IN WITNESS WHEREOF the parties have put their respective hands the day and year first hereinabove written. Signed and delivered by the withinnamed Mr. A in the presence of ... Signed for and on behalf of the Party of the Second Part M/s. A B & Co. Pvt. Ltd., by Its Managing Director, in the presence of ... ... Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

Rs._________ Place_________ Date__________ On demand, I promise to pay to  Sh.____________________________________ (name) of _____________________ (place) or order the  sum of Rs. ____________ (Rupees ____________________________ only) for value received.  Name  (Stamp) S/o ____________  R/o ___________________  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

PROMISSORY NOTE, WITH DETAILS OF CONSIDERATION  Rs.______________ Place ___________ Date _________  I ______________________ hereby promise to pay, on demand, to Sh._________________ ________  or order the sum of Rs. ____________ (Rupees ________________________________ only) with  interest at ______per cent per annum on account of the consideration received as specified below- (1) Rs.________ due from me to the said Sh. ________________________on account of __________ (2) Rs._________ due from me to the said Sh._______________________ on account of __________ (3) Rs._________ due from me to the said Sh._______________________ on account of __________ Name (Stamp) S/o ____________ _____________R/o ____________ _____________ Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

(Signed)  SPECIFIC ENDORSEMENT  Pay to Sh.______________________________ or order.  (Signed)  Or,  Pay to order of Sh.__________"  (Signed)  RESTRICTIVE ENDORSEMENT  Pay to Sh. __________________________________________only  (Signed)  GENERAL AND ABSOLUTE ACCEPTANCE  Accepted  (Signed)  PARTIAL ACCEPTANCE  Accepted as to Rs.__________ only.  (Signed)  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

PROMISSORY NOTE AGAINST PAYMENT OF A LOAN  Rs._____________ Place ___________ Date _________  In consideration of a loan of Rs. _ _________ which I have taken from Sh. ________________________,  I promise to repay the said loan of Rs._____________ (Rupees ________________________________  only) to Sh._________________________________ (name) of _____________________________ (place)  with interest _________ percent per annum. Name  (Stamp)  S/o ____________  R/o ____________ Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

JOINT PROMISSORY NOTE PAYABLE IN INSTALMENTS On demand (or at sight, or, on presentment, or, after date),  we jointly and severally hereby promise to pay to Mr…………………………………………………………………………………… Resi __________________________________ _____________  order, the sum of Rs. _____________ (for value received) by instalments of Rs.___________ per month  with interest on each instalment at _________percent per annum until payment. The first instalment with interest thereon to be paid on the seventh day of next month. Next and each  succeeding instalment with interest thereon to be paid on the seventh day of each following month,  until the whole of the said sum of Rs.__________ be re-paid.  Signatures, Name, and address of drawers.  (Stamp)  1. ________________  2. ________________  3. ________________  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

PROMISSORY NOTE PAYABLE IN INSTALMENTS  Rs.____________ Place __________ Date ___________ I, ________________________________ promise to pay to  Sh. _______________________________ s/o _______________________________  r/o____________________ ___________ or order the sum of Rs. ________ (Rupees  __________________________________ only) in twelve equal instalments of Rs._______ (Rupees  ____________________________________________________ only) each payable on the first day of  every month commencing from the first day of ____________ (Date).  Name  (Stamp)  S/o ____________  R/o ____________ Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)

BILL OF EXCHANGE PAYABLE ON DEMAND  Place_________ Date_________ Rs._________ Pay to Sh._______________________ (name) of ___________________________ (place) or order, on demand, the sum of Rs. _____________ (Rupees _________________________________________ only)  for value received.  Drawer (Name)  Stamp  To,  Drawee (Name)  Address………………………………………….  Download Word Document In English. (Rs.15/-) Download PDF Document In Marathi. (Rs.15/-)