PARTNERSHIP DEED

This deed of Partnership is executed on this 29th day of may 2023 at Hyderabad by and
between.

1. Mr.C.V.Siddhartha S/O C.Vinod Kumar aged 22 years residence of Flat no: 101 Bishan
apartments Srinagar colony Hyderabad.

( Hereinafter referred to as the party of the first part which term shall mean and include
his legal heirs, successors, administrators, attorneys, Etc.)

2. Smt.C.Usha Rani W/O C.V.Bhaskar Rao Aged 58 years residence of Flat no: 201
Landmark Sri Srinivasam apartments Moti nagar Hyderabad.

( Hereinafter referred to as the party of the second part which term shall mean and
include his legal heirs, successors, administrators, attorneys, Etc.)

3. Mr.C.V.Gouthamudu S/O C.Vinod Kumar aged 20 years residence of Flat no: 101
Bishan apartments Srinagar colony Hyderabad.

( Hereinafter referred to as the party of the third part which term shall mean and include
his legal heirs, successors, administrators, attorneys, Etc.)
4. Smt.C.V.Ramani W/O C.Vinod Kumar aged 50 years residence of Flat no: 101 Bishan
apartments Srinagar colony Hyderabad.

( Hereinafter referred to as the party of the fourth part which term shall mean and include
his legal heirs, successors, administrators, attorneys, Etc.)

Whereas the parties hereinabove have thought to carry on the business in partnership with
an intention to make profits. It is further thought fit to carry on the business in partnership
of construction, civil works, residential and commercial buildings/Apartments
constructions and any other business that may be mutually agreed and decided from time
to time under the name and style of M/s SIDDHARTHA ENTERPRISES.

Whereas it is thought fit and expedient by the parties to reduce the terms and conditions
into writing hence this indenture witnesseth the following.

1. Name of the Firm shall be SIDDHARTHA ENTERPRISES.

2. The partnership firm shall come in to existence w.e.f

3. Duration of the firm shall be “Will”.

4. Objects of the firm shall be to carry on the business in partnership with construction
of residential, semi residential and commercial apartments and complexes and any other
business that may deem profitable from time to time.

5. The firm shall carry on the business from the present , Hyderabad, and it is open to
the bPartnership to open branches and / on shift the place of business to any other place
that they deem fit from Time to Time.

6. It is agreed between the partners that Mr.C.V.Siddhartha shall be the managing partner
the account shall be opened in the name of the firm and shall be operated by the
managing partner i.e. C.V.Siddhartha and part no 2 C.Usha Rani shall be operated jointly.

7. Bank accounts shall be opened in the name of the firm and shall be operated upon by
the Managing Partners jointly.
8. Managing Partners are authorized to borrow funds from any financial institutions,
banks or private individuals for the purpose of the firm’s business by signing or executing
Promissory note. Hunch of pledge of the firm’s property deeds of stock if any, jointly.
They are further authorized to enter agreement of sale and execute the sale deeds in favor
of the prospective buyers for the purpose of registration of the firm.

9. Partners shall invest capital into the firm, as per the needs and convenience of the firm
from time to time.

10. The partners are entitled for interest on capital standing credit to their capital accounts
as on 31 March of each financial year @ 12% per year, which shall be credited to their
capital account at the end of the financial year. PArtners are free to charge even less or
no interest on capital in the event of profit or loss.

11. All the parties are actively engaged in day to day business of the firm and considered
as whole time working partners thereby entitled for Remuneration of Rs. ( ) per
month. The said remuneration shall be credited to their shall not exceed the limits
enumerated U/s 40 (b)(ii) of I.T Act., which is illustrated here under.

(a) On the first of 75,000 of book @ 90% of the book profit or

profit or in case of a loss Rs.5,00,000/- whichever is more.
(b) On the next 75,,,/- of book profit @ 60% of the book profit
(c) On the balance of book profit. @ 40% of the book-profit.

However, remuneration in excess of 2,500/- per month as per above table, the whole of
such remuneration shall be apportioned amongst the Working Partner’s equally.

12. Books of accounts shall be closed to Profit and Loss Account and
Balance sheet as on 31st MArch of each financial year and the resultant Profit and Loss
shall be apportioned among the partners EQUALLY.

13. All the partners shall identify each other and shall work for the benefit of the
partnership to derive and make profits.
14. Death,insolvency or retirement of any partner shall not dissolve the partnership but
new partners may be admitted into the partnership by executing a fresh deed on
appropriate stamps.

15. In the event of settlement of any of the partners accounts it shall be settled on the
basis of the balance appearing in their capital accounts. No good will account shall be
raised or created for this purpose.

16. The parties herein above are free to amend, modify, or delete any of the above clauses
from time to time as required by them on an appropriate non-judicial stamp paper

All those clauses that are not specifically mentioned herein, the provisions of partnership
act, 1932 shall apply accordingly.

In witness whereof, the parties here upto above have signed this deed of partnership with
free will and consent at the place and date mentioned above.