Partnership Deed

Rs.
100 stamp paper
PARTNERSHIP DEED
THIS DEED OF PARTNERSHIP entered into at [PLACE] on this the [DAY] day of [MONTH YEAR], amongst:
01.
[NAME], son of [NAME], aged about [AGE] years and residing at [ADDRESS], hereinafter referred to as the First Partner
02.
[NAME], son of [NAME], aged about [AGE] years and residing at [ADDRESS], hereinafter referred to as the Second Partner, and
03.
[NAME], son of [NAME], aged about [AGE] years and residing at [ADDRESS], hereinafter referred to as the Third Partner
Rs. 100 stamp paper
WITNESSETH AS FOLLOWS:
WHEREAS The Partners mentioned above have decided to commence a partnership business for carrying on activities [NATURE OF BUSINESS], and
WHEREAS the partners have thought it fit to put forth their understanding in writing, THIS DEED IS DRAWN PUTTING FORM THE FOLLOWING TERMS AND CONDITIONS: The name of the Firm shall be [FIRM NAME].
1.
2.
The registered office cum administrative office of the Firm shall be situated at [ADDRESS OF THE ADMIN OFFICE] and the Branch office shall be situated at such places as may be decided upon from time to time.
3.
The nature of business shall be [NATURE OF BUSINESS] and such other business as may be decided upon the partners from time to time.
Rs. 100 stamp paper
The capital of the business shall be the amounts standing to the credit of the partners accounts in the books of accounts.
The amounts standing to the credit of the partners capital account shall be eligible for interest not exceeding 12% per annum.
All the partners are entitled to draw salary from the business. The amount of salary shall be decided upon from time to time based on the profitability of the business but the maximum amount shall be limited to Rs. 1,00,000/- per month per Partner
The profits and losses shall be shared and borne by the Partners in the following ratio:
First Partner Second Partner Third Partner
[RATIO]% [RATIO]% [RATIO]%
The partners shall be entitled to draw sums from their capital accounts and the same shall be decided upon by the partners from time to time.
Licenses, contracts, agreements and permits necessary for carrying on the business of the Firm may stand either in the name of the Firm or in the name of one or all of the Partners of the Firms.
The Second Partner Mr. [NAME] shall be the Managing Partner of the Firm and he is hereby authorized and entitled to manage the business and he is also authorized to open and operate all bank accounts and is entitled to endorse all receipts and payments and the same shall be binding on the Firm
All the Borrowings of the Firm can be made by the Managing Partner and the same shall be binding on the Firm.
The Managing Partner is entitled and authorized to sign, make, draw, endorse and accept all documents relating to the Partnership with reference to any Bank, Firm, Person, Business, Government or Local Authority.
The Managing Partner is entitled and authorized to sign, make, draw, endorse and accept all documents relating to the Partnership with reference to any Bank, Firm, Person, Business, Government or Local Authority
The Managing Partner is entitled and authorized to enter into all kinds of agreements and contracts necessary for carrying on the business on the Firm
Proper books of accounts shall be maintained at the registered office of the Firm recording day to day transactions in full Books of accounts shall be closed to Profit and Loss A/c for the first time on 31 st March [YEAR] and thereafter on the 31st March every year.
All accounts, records, books and other documents of the Firm shall be kept safely at the registered office of the Firm and all the Partners are entitled to inspect the same at any time and take extracts there from
No Partner shall transfer or encumber his / her share in the Firm without the written consent of the other Partners
Retirement, Death, Insolvency or Legal Incapacity of any of the Partners shall not have the effect of dissolving the Firm
Any Partner desirous of leaving the Firm shall give not less than 2 months prior notice, in writing, to the other Partners. The duration of the Firm shall be AT WILL
In case of any dispute or difference arising in the interpretation or implementation of any of the above mentioned clauses, the same shall be settled by mutual negotiations, failing which the Partners can resort to Arbitration, as per provisions of the Arbitration Act, 1940
On matters not covered by any of the above mentioned clauses, the provisions of the Partnership Act, 1932 shall apply
IN WITNESS WHEREOF THE PARTNERS HERETO MENTIONED ABOVE HAVE SET THEIR HANDS AND SIGNED BEFORE THE WITNESSES AGAINST EACH, ON THE DAY, THE MONTH AND THE YEAR FIRST ABOVE MENTIONED.
FIRST PARTNER
SECOND PARTNER
THIRD PARTNER WITNESSES

Partnership Deed

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Partnership Deed

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Rs.

100 stamp paper

Rs. 100 stamp paper

Rs. 100 stamp paper

First Partner Second Partner Third Partner

[RATIO]% [RATIO]% [RATIO]%

THIRD PARTNER WITNESSES

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