DEED OF ADMISSION-CUM-RETIREMENT

This Deed of Admission-Cum-Retirement is made at Delhi on 10 th Feb 2022 between Mr. Sumit
Ranjan S/o Late Siddeshwari Ballabh aged about 39 Years, resident of House No 508, Sector 14,
Gurgaon, Haryana - 122001 herein after referred to as “Continuing Partner” of the One Part and Mr.
Mamta Agarwal, W/o Ashok Agarwal, aged about 65 Years, resident of 15/214 A Civil Lines Kanpur,
UP – 208001 herein after referred to as “New Partner” of the Second Part and Mrs. Girija Srivastava
W/o Late Arun Kumar aged about 62 Years, resident of Lane No 2, Plot No 4, Rajeev Nagar Colony,
Near Dakshidi School, Kandwa, Chitaipur, Varanasi, UP – 221106 herein after referred to as “Retiring
Partner” of the Third Part.

Whereas –

1. The Continuing partner and the Retiring partner are carrying on business in partnership in
the name of “M/s High On Hikes” (PAN No ) under the deep of partnership
dated 27/01/2020 entered into by and between the continuing and the retiring partner.
2. The Continuing partner and the Retiring partner have mutually agreed to admit the New
Partner as a partner in place of the Retiring Partner.
3. The Retiring partner desire to assign or transfer his share in the said partnership to the New
Partner and retire from the partnership.
4. It is agreed by all three parties to enter into this agreement to give effect to the said
transaction.

NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

1. The Continuing partner admits the New Partner as a Partner of the said Partnership in place
of Retiring Partner and on the basis of the same terms and conditions as are contained in the
said deed of Partnership hereinbefore recited as if the New Partner was a party to the said
deed of partnership in place or instead of the Retiring Partner except that the New Partner
will not be entitled to the benefits by way of profits earned during the period up to the date
of these presents.
2. The share of New Partner in the capital assets and profits and losses of the New Partner in
the said partnership will be the same as that of the Retiring Partner under the said Deed of
Partnership.
3. The New Partner covenants with the said Continuing Partner the she holds herself liable and
undertakes to pay the debts and liability of the said firm along with the continuing partner.
4. The Retiring Partner hereby assigns and transfers all his share, rights, title and interest in the
said partnership business together with all the assets including electronic media presence
through different channels, goodwill and all outstanding, benefits of all permits, licenses
held by the firm and outstanding contracts and confirm that no amount is due to him from
New Partner or from Continuing Partner of the firm.
5. The Retiring partner hereby assigns and transfer all the intellectual properties rights and
Digital Rights of the firm which is held in single capacity to the continuing partner also
undertakes that she will not hold these rights further in future.
6. The Retiring Partner agrees and undertakes not to carry on the business with the same or
similar Name as that carried on by the firm. However she is free to carry out similar business
with a different name if she desires to do so.
7. The Continuing Partner agree to indemnify and keep indemnified the Retiring Partner
against all the loss, cost, charges, expenses that the retiring partner may suffer or incur on
account of any claim being made against him as partner of the said firm.
8. The said partnership between the Continuing Partner and the New Partner will continue
hereafter on the same terms and conditions as are contained in the said deed of
partnership.
9. The change in the constitution of the said partnership hereby effected will be notified to the
income tax department within the prescribed time.