aPoxsedt uffan det WEST BENGAL 1 496932 ‘DEED OF PARTNERSHIP: ‘This DED OF PARTNERSHIP is made this on 18 th day of November, Two Thousand Nineteen (2019) AMONGST 1) Anik Dutta, S/o. Babul Dutta, Religion-Hundu, by Occupation- Business, residing at 13 Arjun Park, Mukundapur, Kolkata 700099, here in after called the First Partner (Which terms of expression 1 repugnant to the subject or contest be deemed to include his heirs- shall unless excluded by o1 executors administrators, legal representatives and for assigns) of the First Part. contd.p/2..AND 2) Sri. Parag Kundu, S/o. Di bbavachal eseeeaaes ee Kumar Kundu, Religion-Hundu by Occupation- Business, residing at edieaseks ate - Ghuni, PS-Rajarhat, North 24 Parganas, Kolkata- 700157, here in after ae wld we ne Coal terms of expression shall unless excluded by or repugnant to st he deemed to include his heirs- executors adi representatives and for assigns) of the Second Part Se ete ee AND 3) Mrs. Chandana Rani Kundu, W/o. Late Dipok Kumar Kundu, Religion-Hundu by Occupation- Business, residing at Udyachal Cooperative, PO- Ghuni, PS-Rajarhat, North 24 Parganas, Kolkata- 700157, here in after called the Third Partner (Which terms of expression shall unless excluded by or repugnant to the subject or contest be deemed to include his heirs- executors administrators, legal representatives and for assigns) of the Third Part. ‘AND 4) Sti. Pretam Saha, S/o. Satyajit Saha, Religion-Hundu by Occupation- Business, residing at Dakkhina Apartment, 29 Pratapaditya Nagar, Netaji Sangha Club, South Dum Dum, North 24 Parganas. Kolkata 700028, here is after called the Fourth partner (Which terms of expression shall unless excluded by or repugnant to the subject or contest be deemed to include his heirs- executors administrators, legal representatives and for assigns) of the Fourth Part WHEREAS the parties above named have mutually agreed upon to carrying on a business of Fitness and wellness Industry. In the name of M/s. The Retro Fitness with its principle place of business at 104 Jessore Road , 2nd floor-Kolkata 700074 vide a deed of partnership fated 18% November 2019 and to avoid future disputes between themselves. All the parties dare desires of entering into an agreement under the following terms and conditions NOW THIS DEED OF PARTNERSHIP WITNESSES that each of the said partners hereby covenant with other of them in the following terms & conditions:- ‘That the name of partnership business shall be M/s. The Retro Fitness. ‘That the main object of the business will be Fitness and wellness Industry and the partners may embark upon any new line of business. tii, The capital of the partnership business shall be as follows:- Rs. 2, 00,000 = 00 Rs. 1, 00,000 = 00 sue RS, 1, 00,000 FIRST PARTY SECOND PARTY ‘THIRD PARTYFOURTH PARTY... TOTAL Rs.5.00,000 = 00 Moreover, during the business of partnership firm partner can introduce of further capital and withdraw the capital according to requirement of the firm, iv. That the profit & Loss of the partnership business shall be distributed among partners equal ratio, ¥. That if the partners may open bank Account with any Nationalise bank and with any schedule Bank. Moreover, as per mutual consent of all partners of the said firm, the bank account shalll be operated jointly by any Two Partners of the Partnership firm. vi, That the partnership firm can take any office on rent or may purchase for purpose of running of its business ata price as may be mutually agreed and decided by the partners. vii, That all the partners jointly of the partnership firm will make any contract, agreement with another party or and concern. As per the need of the firm, one of the partner can make any contract with any other concern or and an individual for speedy work to avoid extra expenses, by the written authorization on the firm pad along with the seal of the other partner. viii, ‘That every partner of the said the firm will get remuneration from the partnership firm as a working partner according to partnership Act get interest on capital, bonus, commission from the partnership firm, according to their capital investment subject to the following amounts: (1)- On the first Rs. 5, 00,000 of the book profit. Rs. 2, 50,000 or at the rate of 90% of the book -profit whichever is more. (2)- On the balance of the book profit at the rate of 60% For the purpose of this clause “Book Profit” means the net profit as shown on the profit & Loss ‘Account for the relevant previous year, computed in the manner laid down in chapter IV-D of the IT ‘Act, 1961 as increased by the aggregate amount of the remuneration payable to all the partners of the firm of such amount has been deducted while computing net profit. However, the remuneration payable to the working partners shall be limited to the profit in a case where the remuneration payable as par clause © exceeds profit. ‘Though principally the interest and remuneration due to each partner will accrue day to day withthe commencement of the accounting year. Yet it is agrees that ordinarily the interest & remunerationaccount only, once on ascertainment due to each partner will be calculated and pald or credited to h of aarlicr in the event of the retirement or death a irs shail however have ‘emuneration as the book profit after the close of financial year except © partner or change in the constitution or dissolution of partnership. ‘The partner the options to make interim monthly withdrawals as towards interest and oF r ‘as may be deemed expedient and the sum so paid on this account shall determined on finalization of accounts after the close of the hall be limited to Rs. 5,000/- for each of the partners. ally kept and case may be, as such intervals be adjusted against the final figure accounting period. Such withdrawals That the proper books of account shall be kept and maintained as usu: maintained in the ordinary course of business and shall such books of accounts shall be jness and shall be removed there form, kept in the registered office of the partnership busi But the partners shall be at liberty to examine, verify and inspect the said books of accounts one a week and take extra there form. ix. 1x all other purposes the accounting year of the ‘and shall end or the next 31% day ,corded in profit & loss account 6 the last day of March That for the purpose of accounts for partnership business shall commence on 1% day of April of March in every year. All financial transactions shall be re for full year ending 31 march each year and the balance sheet a shall be prepares wherein all assets and liabilities of the partnership business shall be shown according to the General principle of Accountancy. ‘That upon death of any of the partner in the partnership shall not be dissolved; his legal heir or heits shall inherit the share of the deceased partner. The surviving Parkhet shall comtinue the Partnership Business with the legal heir or heirs of the deceased partners woth the same terms & conditions herein continue or any other torm & conditions as the Partners may mutually agree upon and ifthe legal heirs of the deceased partners does not vio not desire to continue. Partnership Business he or she or they shall be entitled to receive the amount standing in credit of the capital account and oF an) other account of the deceased partner and he or she or they shall be entitled to receive the proportionate Share of goodwill as may be valued considering the prevailing market rate of goodwill of the business similar to partner to t isted against any loan or advance taken by the deceased partner but lying unpai new partner or retirement of existing partner the partnership firm follows xi he firm shall be adju: id. In case of admission of the the Partnership Act, 1932. of the firm shall without the consent of all the partners resi from the any partner is will to resign from partnership he shall give (wo :/s he can resign from the xii, That no partner ince and upon agreement by all the partner partnership. In case months notice in advat up to date of resignation shall be prepares /s name shall be transferred to his loan months from the date of resignation 11296 interest on the amount lying yess in the name of partnership. ‘That upon resignation of partner/s an amount ‘and the money lying in the outgoing partner account and shall be paid off within period of three ns all that date outgoing partner/s shal be entitled to outstanding in his name. The remaining partners then carry on the busin Partnership.xvii ‘That no partner shall take any loan any source without the knowle te v 'y source without the knowledge and written consent That the partners shall be UST AND FAITHEUL" to each other in all matter ang transactions relating to the said partnership firm. ae That none of the partners shall during the continuance of this Partnership without the consent of all the partners giving in writing do any following namely - a) Lend any money or deliver on credit any good belonging to otherwise give credit on behalf of the partnership or speculate in the funds ofthe partnership. b) Give any security or undertaking for payment of money account of the partnership. ©) Carry on any business in the name of partnership or which is similar to that of Partnership business or which has the adverse effect to the business of partnership. 4) Compromise or relinquish any claim or portion ofa claim by the firm e) Enter into any bond or become surety for any person or do or knowledge permit to be done anything whereby the capital or property of the partnership seized, attached or taken in execution. f)_Assignor mortgages his share or interest in the partnership or introduced or attempts to introduce other person into the business of the partnership. g) Open a Bank Account on behalf ofthe firm in his own name, h) Take lease on behalf of the firm any immovable property. i) Transfer immovable property belonging to the firm. j) Enter into the partnership on behalf of the firm, k) Hire or appoint or excepting in case proved criminal offences or gross misconduct dismiss any clerk, traveler or other employee of the partnership. 1). Enter into contract for the purchase of property,rom the Pa suit the recovery Piao Partnership so as to extent the period of limitation for Partnership business as stated the oth nei ler partne 'e of one month notice to him the Tepresent can remove fr: ‘om the partn XIX, That the partner committin, indemnity the other Partner cease to be a partner, XX. That this partnershi ha P shall be deemed to have been taken effect on and from 10% August xxi, That the shall devote sufficient time to run the partnership business effectively and efficiently. The Partner in course management of the Partnership business shall look into the benefit and welfare of the Partnership Business. xxii, That all disputes or differences, which may arise between the partners with regard to the construction meaning and accept of these present or any part thereof or whish respect of the account, profit & loss of the partnership business or the rights and liabilities of the partners under these presents of dissolution or winding upon of the partnership shall be referred to the arbitration of the two arbitrators to be nominated by each of the contesting party in case of difference of opinion between such arbitration and matters under arbitrators will be referred to him for discussion and his decision on the matters referred to shall be final. Every such arbitration shall be subject to the provisions of the Indian Arbitration Act of 1940 being in force and binding on all the parties hereto. xxiii, That the partners may with the consent of all the partners amalgamate, merge or convert their business with other Partnership firm or Private Limited Company or Public Limited Company or any Government or Non- government organization. IN WITNESS WHERE OF the parties hereunto set subscribed their hands and seal on the day, month and year above written in presence of the following witness.SIGNED, SEALED & DELIVERED In presence of - SIGNATURE OF THE FIRST PARTY peer wenn SIGNATURE OF THE SECOND PARTY SIGNATURE OF THE THIRD PARTY SIGNATURE OF THE FOURTH PARTY