DEED OF PARTNERSHIP

M/S AVM INSPECTION & ASSOCIATES, SAGAR (M.P.)

THIS DEED OF PARTNERSHIP is executed today on the 24 TH day of December 2012 on

non-judicial stamp worth Rs. 5000/- dated 24 TH Dec 2012 of Sagar (M.P.) Treasury bearing no F

370634 Between: -

1. Shri Abhinaw Mishra S/O Shri Krishna Bihari Mishra R/O H.I.G -23,Hari Singh Gour

Nagar ,Makronia,Sagar (M.P.) Aged around 28 Years.

(HERE IN AFTER CALLED THE”PARTY No.1”)

2. Shri Mukesh Patel S/O Shri Motilal Patel, R/O 216 Gulab Colony ,Sivaji Nagar Ward

Sagar (M.P.) Aged around 28 Years.

(HERE IN AFTER CALLED THE”PARTY No.2”)

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WITNESSETH AS UNDER: -
WHEREAS, the above named parties of this deed have agreed and entered into partnership for
carrying on business of Service Provider Government, Semi Government and Private Quality
Inspection of Various Products etc. Under the name and style of M/s AVM INSPECTION &
ASSOCIATES, SAGAR (M.P.) the above named parties now desire that the terms and
conditions of this partnership on which they have agreed for carrying on the said business in
regular partnership from 24TH Dec 2012 to be reduced in writing.
AND WHEREAS in order to safeguard their respective interest in the partnership business
against any future misunderstanding, disagreement or dispute amongst themselves during the
continuance of the business, the parties hereto have agreed to record all the terms and
conditions of the partnership decided on 24/12/2012.

NOW THIS DEED OF PARTNERSHIP WITNESSETH AS UNDER: -

1. That the business of the partnership firm shall be that of Service Provider govt ,semi

Govt,Private Quality Inspection of various Products etc. Under the name & style of M/S

AVM INSPECTION & ASSOCIATES,SAGAR (M.P.) It shall be open to the partners to

undertake other kinds of business or to carry the firm’s business at other place(s) as the

partners may decide mutually from time to time.

2. The Registered Office of Partnership Firm Will be at H.I.G -23,First floor, Hari Singh

Gour Nagar, Makronia,Sagar (M.P.)

3. That the regular books of accounts shall be kept and maintained during the course of

business, and each account year shall close on every 31 st day of March of every year

and as soon as convenient there after the account of the firm shall be made up, the

profits and losses of the firm for the year ended shall be ascertained and the same will

divided between the partners according to their respective shares.

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4. That the share of the partners in the profits/ losses of the firm shall be as under: -

S.No. NAME OF PARTNER SHARE SIGNATURE

1. Shri Abhinaw Mishra 70%

2. Shri Mukesh Patel 30%

5. That all the partners are entitled to receive simple interest @ 12% P.A. on their invested

capital, which would be calculated on the credit balance and accounted for at the end of

the financial year, The rate of interest Can be Nil or Lower then 12% P.A. in case of

inadequacy of profit as may the partners decided from time to time.

6. That All The Parties have agreed to keep them-selves actively engaged in conducting the

affairs of the firms business as “WORKING PARTNERS” and entitled to remuneration,

remuneration payable to working partner quantified as under which shall be calculated at

the end of the accounting year and shall be credited to the account of working partner’s

in equal proportion.

PAYMENT OF REMUNERATION

(A) If book profit is negative - remuneration to partners u/s 40(b) Rs 1,50,000/-

(B) If book profit is positive

1. On first Rs. 3,00,000/- of books profit - Rs 1,50,000/- or 90% of book

Profit, Which ever is more

2. on the balance of the book profit - 60% of Book Profit

Continued
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The Remuneration so worked out as above shall be paid to, working partners in

proportion as:-

a) Shri Abhinaw Mishra 70%

b) Shri Mukesh Patel 30%

Respectively –

Book profit has the same meaning as defined in Exp. 3 of Sec.40 (b) of I.T. Act, 1961,

or

Any other provision of the act as amended up to date,

7. That each partner shall render true accounts of the matters pertaining to the partnership

firm to each other and the firm business shall be carried on with great skill & honesty.

8. That the Bank Account (s) shall be opened in the name of the firm, And shall be operated

either /Or Partner, as directed to bank.

9. That the Capital of the firm shall be managed or contributed by the Partners in

proportion to there percentage of their profit sharing ratio, as may be convenient to them,

And in future if needed it shall be open to the partners to borrow the Funds/ Money from

any financial Institution(s)/ Bank(s) or / and private concern/party etc. And all the partners

of this deed shall be responsible for paying Bank loans, private loans, any liability of

sales tax Professional Tax, or any other Govt. Liability according to their share in profits/

Losses.

10. That the firm shall not be responsible for pay any old Liability of partner or any personal

Liability of partners i.e. before 24/12/2012.

11. That in case of any difference, dispute between the partners the matter shall be referred

to the arbitration and decision of such shall be final & binding on the partners.

Continued
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12. That the firm’s business shall not be discontinued on the sad demise of any partner. It

shall be open to the heir/heirs of the deceased to enter into partnership if the surviving

partner consents to it.

13. That the partners may modify or change or add or alter or omit any of the term and

condition of this deed by executing a supplementary deed, and when any such deed in

writing and signed by the partners, shall effect the necessary change from the date there

in specified and shall from part of this deed.

SUBJECT AND WITHOUT PREJUDICE TO THE FORGOING PRESENTES: -

The provision of Indian Partnership Act 1932 (As amended up to date) shall be

applicable in matters not provided herein.

IN WITNESS WHERE OF We the above named parties have set our respective hands

on this deed, after fully understanding the matters contained herein above on the date and

year first written above in presence of following witnesses.

WITNESSES: - EXECUTANTS

1………………………. ………………………………

Shri Abhinaw Mishra “Party No. 1”

2………………………. ……………………………….

Shri Mukesh Patel “Party No. 2”

……………………………….

Dated:-24/12/2012

SAGAR (M.P.)