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Deed of Partnership
Deed of Partnership
AND
7. SHARE : THAT the share of the parties in the Profit and Loss of the
Partnership should be in the manner as follows:-
First Part ARUN KUMAR SHARMA, shall get 50% of the Profit and Loss
Second Part SHANI SHAW shall get 50 % of the Profit and Loss
(b) That the Partners should also be entitled to draw commission on the
total turnover of the business at such a rate so to be mutually
decided among the partners.
(c) That the quantum of monthly salary, commission, bonus and interest
on Capital and Loan etc. might be increased decreased from time to
time according to the quantum and volume of business as to be done
by the firm and/or as the partners decided mutually among
themselves.
9. LOAN FROM PARTNERS: THAT the partners might give loan and
advance to the partnership as may be necessary for the purpose of the
business and are entitled to interest thereon at the rate as may be
mutually agreed upon by the both partners.
10. ACCOUNTS: THAT proper and regular accounts of the affairs and
transactions of the partnership should be maintained by the parties and
the books of accounts and all letters, documents and other necessary
papers belong to the firm should be kept upon for verification of all
partners or their representatives for inspection at the business premises,
11. ACCOUNTING YEAR: THAT for the purpose of accounts the partnership
business should observe the Accounting year from April to March (i.e.
First day of April to Last day of March of the following year).
12. BANK ACCOUNT: THAT the parties might open one account or more
accounts with any Bank or Banks in the name of the partnership
business, the account or accounts shall be and can be operated by both
of the partners.
17. DEATH: THAT upon the death of any partner the partnership might not
be dissolved but the surviving partners may admit the heirs and legal
representatives of the deceased into the partnership by mutually
consent.
20. NOTICE: THAT any notice required to be given to any of the said
partners should be sufficiently given by learning the same address to
him at the principal place of the business of firm or by sending the same
to his usual or best known place or places domicile.
THAT any other matter not hereinbefore set out should he governed under the
provisions of Indian Partnership Act, or any other law for the time being in
force.
IN WITNESSES WHEREOF the parties hereto put their signature signed on this
presents on this day, month and year first above written:
In the presence of 1
WITNESSES:
1.
2.
Drafted by me
Advocate