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.