DEED OF PARTNERSHIP

(Photo, thumb impression and name of presentant)

This deed of partnership is executed at ….. on this the . . . . . . . .day of . . . . . . .

. month. . . . . . year by and between. . . . . . . . .name ,S/o.D/o. . . . . . . . . .aged. . . . . . . . . .
years. . . . . . . . . . . profession . . . . . . . . . . . . . residing at. . . . . . . . . . . . . . . . .. in . . . . . . . . . .
village. . . . . . . . . . . . .desom. . . . . . . . . . . .Taluk PIN Code . . . . . . . . . of Local body(ID
No. . . . . . . . .. . ) hereinafter to be called the Ist party and. . . . . . . . . . . . . . .name S/o.D/o. . . . .
. . . . . . .aged . . . . . . . . . . . .years. . . . . . .. . . profession. . . . . . . . . . . . . .residing
at. . . . . . . . . . . in. . . . . . . . . .village. . . . . . . .. .. . . . .desom. . . . . . . . . Taluk.PIN Code. . . . . . .
. . of Local body(ID No . . . . . . . .)(Hereinafter to be called the second party)
WHEREAS parties to this deed have decided to start a joint venture business,
depositing equal shares of capital and hence this partnership deed is executed by us, on the
following conditions.
1. The name of this partnership is .. . . . . . . . . . . . . . . . .. . . . . .
2. The office address is as. . . . . . . . . . . . . . . . . . . . . . . . . . .. . .
3. The conditions of this deed will effect at once and it will run as long as our joint
interest last,
4. It is intended to . . . . . . . . . business by this partnership
5. The business shall branch all over India.
6. This is a Partnership at our will.
7. That the Capital of the partnership shall be Rs....which shall be contributed in the
following proportions equally by the partners
8. Capital fund can be enhanced if required and deposited equally by the partners
themselves.
9. All the members is this deed will be the working partners of this business.
10. The Managing Partner can be the elected as the next Managing Partner if desire so
on the decision of the meeting
11. The gains or profits in the business can be desired equally among the partners,
annually.
12. The Managing partner will keep all the vouchers, receipts, accounts and other records
intact and give them before any inspection or audit.
13. The business year of this partnership will be the 1st April of an year to the 31st day of
succeeding year.
14. There will be a bank account for the partnership and the transactions will be done by
the Managing partner with another partner or joint basis.The Bankers of the
partnership shall be...........branch.................
15. The expenses including salary and travel expenses for Managing Partner and for the
Working partners can be decided and the profit may be worked out deducting those
expenses
16. The loss occasioned if any will be met equally by the Partners
17. The business of the partners will be according to income tax rules and all other
regulations in force.
18. No partners can act against the business of the partners
19. Any partner can with draw from this business only on written intimation and only
according to the decision of the meeting of partners.
20. There will be written prepared for all decisions and meeting held by partners.
21. If a partner dies, the legal heirs can join the partnership business if they desire so after
intimating partners shall take their decision on their meeting. If they do not desire so,
the balance payable to the deceased partner can be paid to the legal heirs and the
business continued.
22. All the disputes will be liable to Arbitration & Conciliation Act and will be decided
accordingly.
23. All the conditions and bylaws will be passed according to the majority decisions in the
meeting.
24.The firm shall maintain usual account and other books at the place of business and they
shall be kept properly and up to date and shall not remove from the place of business
without the consent of all the partners .Each partner shall have free access to the books
of account of the partnership at all times and shall be entitled to have such copies or
extracts there from as he may think fit.
25.No partner shall without the consent of other partner
(i) engage in any other business directly or indirectly.
(ii) sign in any cheque on behalf of the firm to a sum exceeding Rs............
(iii) compromise or compound or release or discharge any debt due to the partnership.
26.Each partner shall –
(i)Be just and faithful to other partners in the transactions relating to partnership business
(ii) Give full information and faithful explanation of all matters relating to the affairs of
the partnership to all matters relating to the affairs of the partnership to all the partners at
all times.
27.All the other matters of which no provision is made in this deed shall be decided by the
majority of the partner for the time being of the partnership
28.No partner shall either alienate or encumber his interest in the firm in any manner
whatsoever
29. Whatever the conditions in this deed may be, it will be functioned on the basis of the
Indian Partnership Act 1932 as amended from time to time.
30. Ratified, affirmed and confirmed these clauses and conditions we, the partners have
set our hands as the date and place in the jurisdiction of . . . . . . . . . . . . . . . . . . . . Sub
Registry, in the presence of the following witness :-
(1) . . . . . . . . . . . . . . . . . . . . (Name of partner), (Sign)
(2) . . . . . . . . . . . . . . . . . . . . (Name of partner), (Sign)
Witness
(1). . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . .
Prepared by . . . . . . . . . . . . . . . . . . . .
Signed by (1). . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . .