PARTNERSHIP DEED
THIS DEED OF PARTNERSHIP made at Chennai on the day of
00/00/2000 between (1) ______________, S/o. Mr. ___________ aged
about
__
years,
Indian
Inhabitant,
residing
at
C/O
___________________________________, of the first part and
(2)
______________, S/o. Mr. ___________ aged about __ years, Indian
Inhabitant, residing at C/O ___________________________________,
of the second part and (3) ______________, S/o. Mr. ___________
aged about __ years, Indian Inhabitant, residing at C/O
___________________________________, Of the third part.
The parties hereto are desirous of recording the terms and conditions on
which they have agreed to carry on the business in partnership in the
firm of Messrs. _______________ with effect from 00/00/2000.
NOW THIS DEED WITHNESSETH AND IT IS HEREBY
MUTUALLY AGREED BY AND BETWEEN THE PARTIES
HERETO that they have become partners upon the terms and
conditions recorded herein, namely:
1.
2.
3.
4.
The Partnership Firm shall carry on the business of the
complete solution about Company House Keeping & Security
services.
The Partnership as constituted under this deed shall commence
on the day of 00/00/2000.
The duration of the Partnership Shall is at WILL determined
by three calendar months previous notice in writing by any
partner to the other partners.
The death or retirement or expulsion or insolvency of any
partner shall not dissolve the partnership as to the other
Partners.
5.
6.
7.
The Partnership shall be carried on the name and style of
_____________________ and /or such other name/s as the
partners may from time to time unanimously agree upon.
The initial capital of the partnership shall be Rs ________ The
parties hereto shall contribute from time to time such amounts
by way of capital as may be deemed necessary or expedient
for efficiently carrying on business of the partnership, in
proportion to their profit sharing ratios mentioned in clause
8.
The net profit of the partnership firm as per the accounts
maintained by the partnership after deduction of all expenses
of the partnership including but without limitation of rent,
salaries and other establishment expenses as well as interest
including interest and remuneration payable to the partners in
accordance with this deed of partnership or any supplementary
deed as may be executed by the partners shall be divided
among the partners in the following shares of proportions
To the said _______________
00%
8.
9.
10.
11.
12.
13.
To the said _____________
00%
To the said _____________
00%
To the said ____________
00%
It is hereby agreed between the parties hereto that all the
partners shall be entitled to simple interest of 12%p.a. or such
rate as may be prescribed in the Income tax act 1961, on the
amount of capital contributed or any loan advanced by them to
the firm.
The Partners shall be entitled to withdraw any amount from
the partnership towards their loan account, or salary, yearly
remuneration, share of profit or out of their current account
but not exceeding the current credit balance in their individual
account. If however a making up annual accounts at the end of
each year, or earlier during the relevant accounting year, it
shall appear that any partner has drawn any sum in excess of
his/her share of profits he/she shall fore with repay such
excess to the partnership account with interest as provided in
clause 10.
The partners may open bank account of any nature viz.
savings, current account, cash credit, overdraft, fixed deposit,
etc., and the said bank account(s) shall be operated in the
firm’s name by any partner.
The partnership business shall be carried on from the premises
situated
at
C/O
______________________,
__________________________________. And/or at such
other place as may be mutually decided by the parties.
Usual books of account and records shall be kept by the firm.
Each partner shall have free access to such books of accounts
and records.
The accounting year of the partnership shall be the financial
year ending 31st march of each year.
14.
15.
16.
17.
18.
19.
The net profits shown by accounts shall be divided between
the partners in the ratio of their respective shares as motioned
in clause 9.
If any partner is desirous of retiring from the partnership, he
shall be entitled to do so by giving one months notice in
writing to the other partner. On such retirement the partnership
may take out partnership insurance policies for the benefits of
the partners.
It is hereby agreed by and between the parties that this
partnership firm shall be registered under the partnership act,
1932 within a period of one year or such time as may be
prescribed by law, whichever is earlier.
By mutual agreement in writing or by executing a
supplementary deed or any other deed, the salary,
remuneration, or commission payable to the partner may be
increased or decreased.
All disputes and questions whatsoever which shall either
during the subsistence of the partnership or afterwards arise
between the partners or between one or more of them and the
legal representatives of other or others or between their
respective legal representatives touching this deed or the
construction or application thereof a or any clause or thing
herein hereunder or as to any other matter in anyway relating
to partnership business or may refer the dispute by arbitration
according to the Arbitration and Reconciliation Act, 1996.
The terms and conditions of this deed may be amended or
cancelled or substituted by fresh terms at any time with mutual
consent of the parties hereto.
IN WITNESS WHEREOF the parties have hereunto set and subscribed
their respective hands the day month and year first herein above
written.
SIGNED AND DELIVERED by the within named
_________________ In the presence of:
SIGNED AND DELIVERED by the within named
______________ In the presence of:
SIGNED AND DELIVERED by the within named
______________ In the presence of:
Dated this 00th day of May 2000.