PARTNERSHIP DEED

THIS partnership deed is made at Kadi on ____________________, 2024;

By and between

1. M/S. AERON ALUMINIUM PRIVATE LIMITED a company incorporated

under Companies Act, 2013 having PAN no. AAUCA3756A, having

registered office at Durga Sales Agency Super Market FF-36, Banas

Kantha, Dhanera, Gujarat- 385310, India, and having factory address at

Survey No. 23, At- Po Kaiyal, Nr. Italia Ceramic, Kadi (Nandasan),

Mahesana, Gujarat- 382705, India hereby authorized Mr. Vimalkumar

Mukeshbhai Trivedi, One of the Director of the company having PAN no.

BDFPT7957J and Adhar No. 931098707545 residing at 07, Taluka

Panchayat, Staff Quarters, Dhanera, Banaskantha, Gujarat-385310, India

(Hereinafter to be called as the First party/Company/Aeron);

2. Mr. MANOJ RAMNIKLAL SHEKHAT (PAN: DHCPS2555C, Aadhar

No.: 989971223326) aged about 35 years, residing at Block D-301, The

Grand Eastern Phase -2, Nr. Bhakti Circle, Nikol, Ahmedabad, Gujarat-

382350, India. (Hereinafter to be called as the Second Party/ Mr. Manoj)

WHEREAS both the parties (herein after called as “Parties”) have decided to

enter into a MOU through this Original Deed of MOU.

NOW, THEREFORE THIS DEED WITNESSETH AS FOLLOWS:

1. That the business shall be carried under the name and style of one of

the unit of M/s. AERON ALUMINIUM PRIVATE LIMITED.

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 The principal place of the business of under this MOU shall be at

Survey No. 23, At- Po Kaiyal, Nr. Italia Ceramic, Kadi (Nandasan),

Mahesana, Gujarat- 382705, India and at such other place or places

as may be decided by the parties from time to time.

2. THE NATURE OF MOU BUSINESS SHALL BE AS UNDER

To carry on in India or abroad business of Solar Frame cutting & Punching

machine (auto), which further deals in Frame Fabrication, Machine and

frame drawing and all other matters related to or incidental to Solar Frame

cutting & Punching machine (auto).

3. Capital, loans or deposits looking to the needs/requirements of the MOU

Unit shall be arranged, invested or contributed by the parties of the first

part only.

4. Further Terms & Condition:

1) There will be only working agreement between party of the first part

and second part. Mr. Manoj will only handle the business as

mentioned in this MOU only. Mr. Manoj has no right or interference

with other business of other units of M/s. AERON ALUMINIUM

PRIVATE LIMITED. Mr. Manoj has no right or contribution in any

asset of this Unit of MOU such as but not limited to the Machine,

Land, Shed, Construction etc. Mr. Manoj is only entitled to the 10%

Profit of the revenue generated through this unit only. Apart from it

no other financials benefit is available to him.

2) Mr. Manoj will be Completely responsible for All the technical

matters such as but not limited to the Frame Fabrication, Machine

Drawings, Frame Drawings etc. Any other technical matters not

mentioned here but it is related to the Solar cutting and punching

then the said matter’s responsibility is of Mr. Manoj.

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3) The target of sales from this unit is 100 to 130 tones monthly. Mr.

Manoj will take equal responsibility in marketing the product of this

unit along with the company.

4) Whenever circumstances arrive that requires presence of Mr.

Manoj then he should compulsorily present at the working place

without fail;

5) The responsibility to supply raw material to this unit is of the

company only.

6) Mr. Manoj has also established his separate business of Solar

cutting & punching with manual approach. The Company has no

issue against it. However while working on its own establishment

Mr. Manoj must priorities sales target of this Unit as mentioned in

earlier clause.

7) The customers who already has dealing with the personal

establishment of Mr. Manoj, the company has no issue if the said

customers deals from there. However it is strictly needs to adhere

by Mr. Manoj that the customers of this unit must deal with this unit

only and the billing will be done by and in the name of company

only.

8) If any frame, the manufacturing of which is not possible to complete

with this unit of Aeron then Mr. Manoj is free to complete the said

frame from his own establishment. Until and unless there is

transparency the company has no issue in growing together.

9) Mr. Manoj will not be a partner, authorized person, beneficiary in

any other business of the company apart from this unit only.

10) The accounting of Solar Cutting a Punching should be separately

maintained, Mr. Manoj should take care of that.

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 11) The expense of Solar cutting and punching lighbill will be separate

and for that separate meters will be fixed.

12) The Salary of the staff involved in this unit will be paid by this unit

only;

13) The scrap of this unit will be purchased by M/s. AERON

ALUMINIUM PRIVATE LIMITED at a market rate.

14) All the expenses born by this unit shall be bear by this unit only.

15) Mr. Manoj cannot prepare frames in any other plant, entity,

manufacturing unit apart from this unit as mentioned MOU or at own

manufacturing unit.

16) At every month the parties will do the accounting of the business of

the unit to know the position of revenue and expense. The day of

month will be as decided by party mutually.

17) This MOU can be terminated with mutual decision of both party

only. If only one party wishes to terminate or resign from this unit

then the said party cannot run this business i.e. solar cutting and

punching (auto) for next 5 (five) years. Neither it can be a partner

of Unit or manager/ employee of any entity who is involved in such

business.

5. POWERS/ DUTIES/ RESPONSIBILITIES OF THE WORKING PARTY:

The powers and duties of the Working Parties, which shall be exercised

at his sole discretion without any consent (written/verbal) from any of the

remaining Parties, shall include but not be limited to the following:

1) Obtaining the statutory approvals/ licenses/ registration of logo etc. of

Unit.

2) Authorizing anybody to do the liaison with concerned Govt. Departments.

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 3) Opening of the Bank Account in any scheduled licensed bank by R.B.I.

4) To appoint Consultant for the respective field like taxation/ legal as the

need may arise.

5) Supervising the accounts and managing the day to day tasks of the Unit.

6) To sue, file and institute any case on behalf of the Unit and defend any

claim, court case or proceedings filed against the Unit including issuing of

Vakalatnama/ Letter of Authority to the lawyers named herein below, filing

any affidavits, written statement, applications, petitions, suits, complaints

etc.

7) The financials decision is completely at the discretion of the company, Mr.

Manoj has no say apart from his 10% profit.

6. That the parties hereto shall be true and faithful to each other and shall

not do or cause to be done anything which may be detrimental to the

interest of the Unit.

7. That the parties shall keep or cause to be kept proper books of account

and documents and shall make entries therein of all receipts, payments

and other matters as is usually done and entered in the books of account

kept by persons engaged in business similar to that of the Unit. Each party

shall have a right to have access to and to inspect and take copy of the

same.

8. That the validity of this is at will.

9. That the net profit of the MOU Unit after deduction of all expenses

including salaries, other establishment expenses, din accordance with

this deed of MOU or any supplementary deed as may be executed by the

parties from time, to time, shall be divided and distributed amongst the

Parties in the following proportion:

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 Sr. No. Name of Parties Profit & Loss Ratio
1. Mr. Manoj Ramniklal Shekhat 10 %
2. M/s. Aeron Aluminium Private Limited 90 %
Total 100 %

The losses, if any shall also be apportioned in the above said proportion.

10. That the bank account or accounts shall be maintained in the name of the

Unit and shall be operated by company only. The account of the MOU

shall be opened with such bank or banks, as the company deems fit.

11. That the books of account shall be closed on 31st day of March each year.

The net profit or loss after deducting all expenses, outgoing shall be

divided between the parties in proportion to the sharing ratio referred to

hereinabove.

12. That with respect to any matter connected with the affairs of the Unit,

which is not specifically provided for herein, the Parties may make such

agreements therefore and may set in such manner with regard thereto as

may be agreed upon by and between them.

13. That if the Parties deem proper and in their interest, they may admit any

other person or persons as Parties of this MOU on the terms and

conditions as may be mutually agreed amongst themselves.

14. That the Company shall be entitled to modify the above terms relating to

Parties by executing a supplementary deed and such deed when

executed shall have effect unless otherwise provided from the first day of

accounting period in which such supplementary deed is executed and the

same shall form part of this deed of MOU

IN WITNESS WHEREOF the parties to this deed have set their hands on the

___________________2024, herein above written and in the presence of:

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 Photo Signature

First Party Vimalkumar Mukeshbhai Trivedi

On behalf of

M/s. Aeron Aluminium Private Limited

__________________________________

Second party Mr. Manoj Ramniklal Shekhat

__________________________________

WITNESSESS:

1.

2.

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 Schedule as per Registration Act, 1908 in
Section 32/A

Signatures Photo Thumb Print

First Partner

__________________________
Mr. Vimalkumar Mukeshbhai Trivedi

Second Partner

__________________________
Mr. MANOJ RAMNIKLAL SHEKHAT

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