DEED OF PARTNERSHIP

THIS DEED OF PARTNERSHIP made on the 01th day of January Two Thousand Twenty Six between:

1. Mrs ……………… …… W/D/o ………………… Aged …… years resident of ……………………………… hereinafter called the “First Party” (which term shall mean and include all their legal heirs executors representatives nominees successors assignee and administrators) of the First Part

2. Mr ……………… S/o Sh …………………… Aged …………… years resident of ………………………………………………………… hereinafter called the “Second Party” (which term shall mean and include all their legal heirs executors representatives nominees successors assignee and administrators) of the Second Part

Whereas parties have desired that terms and conditions agreed upon by them be reduced into writing in order to avoid any doubt dispute or ambiguity there about in future  

NOW THEREFORE THIS INDENTURE WITHNEESTH AS UNDER:   

1.      That the partnership shall be deemed to have been come into force with effect from 01th day of January 2026

2.      That the partnership business shall be carried on under the name and style of ANKIT ARHAN JAIN  ASSOCIATES and its principal place of business is at the ……………………………………………………………………… or at any other place as the partners hereto may deem fit and appropriate

3.      That the firm shall carry on the business of ……………………………………………………………………………………………………………………………………………………………… However the partners hereto reserve themselves the right to carry on any other business or trade off if they so desire

4.      The Initial Capital of the firm for the time being is fixed at Rs 51000/- (Rupees Fifty-One Thousand) Only which has been contributed by the partners as follows namely:

………………………………… (First Party) Rs 45900/- (Rupee Forty-five Thousand Nine Hundred Only)

…………………………………… (Second Party) Rs 5100/- (Rupee Five Thousand One Hundred Only)

Provided that the partners may by mutual agreement increase or decrease the capital and their respective contributions thereto The partners by mutual consent may raise capital by way of loans if considered expedient

5.      That whatever capital is required shall be contributed by the partners as may be mutually agreed/decided from time to time and the partners will be entitled to interest  6 simple interest per annum on Capital contributed and loans advanced by the respective partners This interest payable to the partners will be calculated on daily product basis and credited to their respective account at the end of the year

6.      The first  Second Party shall actively engage in conducting the affairs of the business of the partnership Firm That both the partners are working partners It is hereby agreed that in consideration of the said partners keeping themselves actively engaged in the business of the partnership firm and working as working partners shall be entitled to remuneration

7.      It is hereby agreed that each of them shall be entitled to annual remuneration of:

a)      …………………… (First Party) Rs 12000/- (Rupees Twelve Thousand)

b)      ………………… (Second Party) Rs 12000/- (Rupees Twelve Thousand)

That the quantum of salary can be increased or decreased to a sum as will mutually decided by the parties hereof The remuneration payable to the said working partners shall be computed in the manner laid down or deduction under section 40(b)(v) read with Explanation 3 of the Income Tax Act 1961 or any other applicable provision as may be in force

8.      That in no case the aggregate remuneration interest bonus and commission per year shall exceed the limit as fixed by the Income Tax Act 1961 as amended from time to time

9.      That the books of accounts will be maintained in the office of the firm and shall remain open for inspection of partners The accounts shall be closed on 31^st March each year or any other date as the partner hereto may mutually agreed upon

10.  That the profit and losses of the firm shall be shared by the partners in the flowing proportions:

              Party of the first part                                                       90

              Party of the second part                                                  10

11.  That the Trading  Profit  Loss Account shall also be prepared at the end of the year and Net Profit and loss of the year shall be divided or borne by the partners in the share ratios specified in clause above These shall be signed by all the partners of the firm shall and when so signed by all binding on the all the partners

12.  The duration of the firm shall be AT WILL of all the partners

13.  That if any of the partner wanted to leave from the partnership business She/he can retire from the date of his verbal or written notice and other partners can carry on the partnership business in the same name and style if they mutually agreed and accounts of retiring partner will be settled on the basis of the book value of the assets on that day and She/he has no right to close down the business of the partnership

14.  That the bank accounts of the firm shall be opened in any bank\banks as may be decided by the partners and shall be operated by any of the partners and/or may be mutually decided from time to time

15.  That any of the partners shall be authorized to sign file or withdrawn any paper or documents relating to Bank Government Departments Industries Departments Income Tax Sales Tax State Electricity Board or any other department organization institution or company etc

16.  That all major decisions for the conduct of the business of firm shall be taken by partners by mutual consent

17.  That the partners of the firm may borrow any sum from banks/financial institutions/Private parties for running the business of the firm and may charge the firm’s assets for the same purpose That in case of dispute among the partners the same shall be decided by Arbitration and provisions of the Indian Arbitrations Act shall apply

18.  That the partnership shall maintain regular books of accounts in the usual course of business and such books shall be maintained and kept at the principal place of partnership business and shall be opened for inspection by the individually partners during the business hours

19.  That none of parties shall without the written consent of the other party or the parties

a)      Assign mortgage or charge his share in the assets or profits of the firm

b)      Land money belonging to the firm

c)      Except in the ordinary course of business dispose of by pledge sale or otherwise any partnership property or profits

d)      Borrow any sum from banks/ financial institutions/Private parties for running the business of the firm and charge the firm’s assets for same purpose

20.  That each of the parties shall carry on the business of the firm to the greatest common advantage and be just and faithful to the other parties and render true account and full information affecting the firm to the other partners or his legal representatives

21.  That all the expenses and outgoing in respect of the said partnership business shall be paid out and borne from the gross earning and assets or the partnership business

22.  That the firm shall not be responsible for the personal liabilities of the partners whether past present or futures No partners shall do anything where by any of the properties of the firm is exposed to the danger of being attached seized or taken into execution

23.  All other terms and conditions which have not been specifically mentioned in this deed shall be governed by Indian Partnership Act as in force from time to time

24.  That the parties may by mutual consent or in writing modify any terms of this Deed and all such additions or modifications or verifications in terms of this deed shall be deemed to be the part of this deed

                                To bind the parties their heirs and successor the parties mentioned above have put their signature at Delhi on the year and date mentioned herein above

Witnesses                                                                                EXECUTANTS

1                                                                                              (Party of the 1^st part)

2                                                                                             (Party of the 2^nd part)