Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 2

..2..

AND

(2) Nirmalkumar Son of Kiritkumar Santoki, residing at 13, Krushna Nagar Society, Kamrej, Surat
(hereinafter, for the sake of brevity is referred to as the first party, of the representative of the investor,
which expression unless repugnant to his context herein shall mean and include himself, his principals,
his associates, partners, directors, heirs, executors, and legal representatives etc.) of the SECOND PART.

Whereas the FIRST PARTY is desirous of investing an amount of Rs. 50 crores (Rupees Fifty Crores Only)
in the project proposed by the SECOND PARTY and second party is willing and ready to accept the said
amount as investment with the condition of share the profit and the loss equally after meeting all
expensed required to run the project smoothly and efficiently.

NOW THIS AGREEMENT WITNESSES AS UNDER :

1. The first party having agreed to invest Rs. 50 crores (Rupees Fifty Crores Only) in the project of
the Second Party who having agreed to accept the same amount on equal profit/loss sharing
basis, both shall be bound by the following terms and conditions.

2. This First Party do hereby confirm his / its investments of Rs. 50 crores (Rupees Fifty Crores
Only) through the Account No. : 03001230029759 of the first party with Union Bank, Ashram
Road Branch, vide Demand Draft / Cheque bearing No. : ________ Dt. : __________ for Rs. 50
crores (Rupees Fifty Crores Only) drawn in favour of ____________________________________
for the purpose of carrying on the project at Ahmedabad.

3. The First / Second Party unequivocally capitulates that the paid amount is legal and clear on
which tax has been paid in full and further stipulates that there is no attachment by any court of
law in India or abroad and that there is no other liability relevant to the said amount.

4. It is agreed by both the parties that the Second party shall have absolute and authority to run
the said project and audited balance sheet shall be on the basis of sharing the profit and or the
loss as stipulated in clause no. 1 above.

..3..
5. It is understood and agreed that the First Party shall not interfere in the day-to-day functioning
of the Company / Project of the Second Party.

6. This agreement shall be valid until both the parties agree to wind up or retire voluntarily from
the said entrepreneurship.

7. Should there be any dispute between the parties, the same shall be settled amicably and it could
be settled by the application of rules of arbitration as per Indian Arbitration Act.

8. The Company / Project shall be run or administrated in accordance with the by-laws / provisions
of the partnership act or memorandum and articles of the association of the Company and all
accounts between the parties shall be settled as per the rules and regulations applicable to the
Company.

9. The Principal of Uberrima Fidao and VIs Major shall be applicable to this agreement.

10. The jurisdiction of this agreement shall be at Surat, Gujarat.

IN WITNESSTH WHERE OF both the parties have signed delivered this deed at the place on date, the
month and the year as aforementioned.

WITNESS :

(1) FIRST PARTY


(K. M. SHAH)

(2) SECOND PARTY


(N. K. SANTOKI)

You might also like