l'r!-{ rN!:11!

lllp B L,_trn
IIIIS l)lrl:D Of l,n l{'t'NEttSiltp is cxecrrtcil al I)clhi on rhis l(rrh clrr-v trl. i\lrrrch, 20()7
lllrl'WEEN
Sh. X son of:Sh. I{esirlcnt
- of
rvhich cxprcssiorr slrnll ,r.r"r, .,J r,r";;l*.r *, ;i:J;i;,l:'
rcpresen tal ives.
;,,. r
:*:lJf ';li:" ;::?l
AND
Sh. Y, son of Sh. Resident of *, hereir:after called ,thc Sccoucl
Parfy' rvhich .rpr**iou ,l*il-ril, anct iltclucle his heirs, successors,
executors;rncl lcgal
represen tat ives.

wl-IEREAS lhe First Panv is irt occtrpatio'.t.,,t

grourrd floor bearirrg No. A-20, ChanJa'i r -r-' r'easuring 1000 sq. rt.
1t.],nllt olproperry o' rrrc
Clirvok, Dellri.

AND WHEREAS the First Par$ is clesirotrs.of carrying

on the business of interior decoration arcl
the Second Pafty, bei'g experictrced irr tlris troa",
business witlr lrinr jointly in partuership;
ni, upor#n"a the First party to rLrrr t6is

AND WHEREAS the parties have agreed to comnrence

and run trre business of interior
decoratioti, ftrnlishirtg, tnanrifact,re arr-d sale
of furniture, ,"n n",riri;;r*" ril";:sjsrori", in
partnersh ip.

l. The nanie and styre of this parlnership busi'ess

shat be lr4/s. ABC.
2' Tlte business of this partnership shalibe consictered,";;;;;;;i'.,"n."a
Nlarch, 1 984. o,20rh day of
3' That'the principal place of busitress of this partnerslrip
shall be at A-20, chanclni
chowk'Delhi' However' the same rnay be shiftea
' the mutual consent of both the parties hqrn
or carried on elsewhere as well with
4' That the business of the partneiship
time t; ;;;'
shall be ;n,..loiJ".oratio', funrishing, manufacture
and sale of furniture, soft fumishing and assessories. Horu"u"i,.h";;;i;;r^i;ill
entitled to extend their activities inio urti,r* also be
o, -u,ruiru"tr,rlng of any other iteni as
well.
5. The shares of the parties in the profits and losses
shail be as foilows:
i. First party _ 5l%
ii. Second party
6' TIre ini'tial capital lras been contributed by both
the parties by investing a surn of Rs.
15,000/- edctr. tf ana t"i,.,t,rior" n,na, ur" r"qul."Jriith"
burin"ss, the partners shal
.;il:::,r1" same. Horvever, ary capitar investineni l*
parrners shail
"f not carry any
7' In case loans ordeposits are raised from outside i.e.
friends and relations of the partner
or the financial institutions then only those loans
or J"losits, *hiclr are taken with the
written consent.of b-oth the pafiners and are entered
irr the books of accounts of the
partrtership, shall be binding orr the firm. The partnershif
shall maintairi r"gutul uoorc or
accotlnts in accordance rvith the customs oltrade
and'all dealings p't"ership
shall be duly recorded in the sarne. The account
oooLr.t". shall be "itri"
naintained in the
place of business at A-20, ChandniCho.rvk, Delhi.
8' Each of the partners shall be entitled to withdrarv
a sum of Rs. 2000/- every montlr
which shail be adjustabre in the finar profit and
to* u..ou,,t ; ;;;;;;;;,r ;;;; y"r.
9' The First Parf shall also be entitlecl lo withdraw
a surn
lt: ttlt.l: is paying to the Landlord in respect or ttr"oflRs. 5000/- per month towards
Charrdni Chorvk, Dellri. r
po,t;o,r of ,i.,.o,r_v
. No. A-20,
 10. 'l'lte lclrrrrcv riglrts irt rcspccl ol prolrcrlr nvrr ,,\-l(). Chrrrrlni ( lrorrk, Dclhi shall nlrvrrvs
vcst in tlte lrirst l)rrrly ltntl rr,ltcttcvel thc pirrlncrslrip is rlissolvecl ftrr any rcasoll
\vliiltsocver, llrc Sccorrd Plrtl'shitll rlot bc cntitl(-(l 1o iltly riglrt. titlc or irrlcrest irr lhe
slllllc.
I 'l'hat tlre partrterslrill shall rtxtittlairt propcl books ot"nccounts irr tlre rrorrnal cottrse <-rf
l.
business at the principal placc ol'its btrsirress arrtl tlre sarnc shlrll alrvays be opcrr for
irrspcctiorr to lhc p;rrtlrers.
12. 'fhat tlre first accounting period of tlte plrtncrslrip shall close on 3lst March, 1985 and
thereafter lhe financial year sh:rll nrn liorn lst April every )/ear to 3lst March of the
subscqucrrt of thc Englislt Calcrrdrr
13. That tlre bank accorrrrts of the parlrrership ancl/or its [rranchcs shall be operaled uncler the
sigr)lrttrrcs of arty of'thc prt tllct's.
14. That at tlre close ol'the accountirrg pcriod/1,ear, a tlial balarrce, profit arld loss account
and balance-sltect etc. shall be prepared nrrd the prolit and loss in the ratio enulneraled
abovc, shall be credited/ debited to the capitalaccount of the parlrrers.
15. That either of the parlics rvorrlcl not be errtitled to cany on sinrilar or competitive tiade
individually or in partnership and in any other ntanner.
16. The partnership shall tre at Will. IIouevcr, rvhenevcr any parry intends to dissolve the
same or retire from the sanre, he shall give an advance notice of l5 days to the other
parly and during the period of notice. profit and loss acc,runt, balance slreets shall be
completed to finalize the accounts in betrveen the parties as rvell as rvilh the outsiders.
17. That irr tlre even of any dispule arising betrveen the partnership rvith respect to any
clause of this docuurerrt or the rvorking of the prrrtnership or for anything indicated
tlrereof, the sante shall be decided b;'arbitratiou irt accordance rvitlt the provisions of the
Arbitration Act and by no other process.
18. That in all other matiers not providcrl herein, the prrtnership shall be governed by ilte
Indian Partnership Act as applicable il',.lrtr tirlle to tinle.

IN WITNESS WHEREOF the parties have si!:ned this document on the date first above rvritten in
preseuce of the follorving witnesses.

t )l_ FIRST PARTY

I

't SECOND PARTY

9tll*
WITNESSES:

i.

2.
Mr. Saksham Gahlot, 37 slo Mr. Sampat Gahlot rlo 75, Gulabi Nagar, Udaipur wishes to
open an outlet of Tanishq Jewellery at his shop bearing the address 73, Delhi Gate Udaipur.
He needs a partner to invest capital in this venture. His friend Gopal Singh, 38 s/o Mr.
Harpreet Singh r/o 254, Raja Park, Jaipur is willing to invest a capital of l2 lakh rupees in the
venture but due to other commitments he cannot play an active role in the partnership. He
wishes to be made a 50-50 partner and also receive a yearly interest of 2 lakh rupees for the
sum he has invested. The day to day responsibility of the whole set up would be borne by Mr.
Saksiram Gahlot but would be open for inspection by the other party. Draft. a Partnership deed
for the t\vo parties.