DEED OF PARTNERSHIP

This DEED OF PARTNERSHIP entered into an 4th day of October 2010 between

1. ASHWINI KUMARI daughter of VISHWANATH SALIAN aged about 21 years.

2. DHAYANAND KAMATH son of aged about 22years.
3. MANOJ SHETTY son of aged about 22 years.
4. RANJITH KUMAR SHETTYN son of aged about 22 years.
5. SHARATH SHETTY son of aged about 22 years .
6. VARSHA MALLI daughter of aged about 24 years.
All the above partners are resident of Udupi and D.K district. Hereinafter called the
first to sixth partners respectively and the term “partners” to mean and include the
respective heirs, legal representatives, administrators and assign unless it is repugant.

NOW THEREAFTER THIS DEED OF PARTNERSHIP WITNESS AS FOLLOWS

1. The name and style of the partnership shall continue to be “PAWS” , “PET
AND PET CARE”.
2. The place of business of the partnership shall continue to be situated at
NANTHOOR, MANGALORE with an option to be partners to shift it to or
open branch/ branches at such other places or places as may be mutually
agreed upon from time to time.
3. The branches of partnership shall continue to be the running of a pets and pet
care and with mutually consent of all the partners from time to time fresh line
of business including running of clinic, boarding may taken up.
4. The partnership has commenced from the 4th day of October 2010 and shall
continue to be a partnership at will.
5. The capital of the partnership shall be the aggregate of the amount standing to
the credit of the amount of the partners as at the commencement of
partnership. If any of the partners is wish to discontinue the partnership
business, the equal share shall be distributed to the continuing partners. The
profits and losses share shall be 1:1:1:1:1:1. Even after the discontinue partner
also get equal share. If it is raised in a manner of mutually agreed to between
each partners.
6. The existing banking accounts of the firm may be opened with such banks as
may be mutually agreed to between the partners firm time to time and such
 accounts may be operated upon by any of the two working partners both of
whom are here with duly authorised for the purpose.
7. The loans, cash credits, overdraft, facilities etc, enjoyed presently by the firm
may be continued to be so enjoyed and fresh/ additional loans etc may be
raised borrowed or obtain from such banks / or other parties on security of the
assets of the firm on such terms and conditions as the partners may mutually
decided from time to time. The borrower account may be operated by all the
partners.
8. Proper books of account shall be maintained at the office/ main place of
business of the firm in the ordinary course of business and entries therein
should be recorded regularly and the books of account shall be open for
inspection throughout the normal working hours of the firm by the partners.
9. The books of account shall be closed on the 31st day of march every year and
account shall be taken of the profits made/or losses incurred by the firm for the
period / year ended on that date.
10. The capital contributed by the partners shall carry interest at the rate not
exceeding 18% or such other rates are admissible under the provisions of the
INCOME TAX ACT 1961 and as mutually agreed upon by the partners from
time to time.
11. All the partners are full time working partners and they shall be compensated
for the efforts put in by them by a remuneration of Rs. per month subject
to the provision that in the event of inadequacy of the book profits, the
remuneration payable shall be proportionately reduced to keep the aggregate
remuneration within the limit of available book profit.
12. The profit or losses determined on the annual closure of the books of accounts
shall be shared borne by the partners in the following ratio:
ASHWINI KUMARI 16.66%
DHAYANAND KAMATH 16.66%
MANOJ SHETTY 16.66%
RANJITH SHETTY 16.66%
SHARATH SHETTY 16.66%
VARSHA MALLI 16.66%
13. The statement of account prepared on the annual closure of the books of
account shall be straight by both the partners in token of the correctness
 thereof and thereafter such statement shall be conclusive and binding on all the
partners and the statement shall not be questioned except when any error
manifest therein is found out within a month of signing, in which case, such
error shall be rectified forthwith.
14. Each partner shall
 Be just and faithful to the other partner and render to him/ her true
accounts and full information on all things affected the firm.
 Carry on business of the firm to the maximum mutual benefit.
 Pay his/her separate and private debts and indemnify the other
partners and the partnership assets against all claims , proceedings
or demands in respect thereof.

15. no partner shall without the consent of the other partner:

 assign, alienate or mortgage his/ her share of interest in the

partnership

 compound relinquish or discharge any debt or any sum due to the

firm without receiving the full amount or

 carry on any business competing with the business of the

partnership.

16. the partners may draw out of firm , in anticipation of profits , such sum/s may be mutually
agreed upon from time to time but they shall not withdraw their capital or interest accrued
thereon during the pendency of any term loan obtained from any bank or financial institution.

17. any unanimous resolution recorded and adopted by the partners to add , to amend, to
delete, to vary, t alter or substitute any of the provisions of this deed of partnership shall be
deemed to have been incorporated in this deed from the date of adoption of such resolution or
from such other date as specified in the resolution.
 IN WITNESS WHERE OF the partners have signed this deed of partnership on this the 4 th
day of October 2010 in the presence of the WITNESS:

WITNESS:

Signature:

Name:

Address: ALL PARTNER