DEED OF PARTNERSHIP

This deed of partnership is made and executed at Chennai on 18 th April 2018

between:
1. Yogendra Kumar Mishra, Son of Mr. Father’s Name, Date of birth ……….residing at
A.K.S. MAMTA, hereinafter referred to as FIRST PARTNER.
2. Suresh Nimbalkar, Son of Mr. Father’s Name, Date of birth ………., residing at
[Address Line 1, Address Line 2, City, State, Pin Code] hereinafter referred to as
SECOND PARTNER.
3. Avinashkumar Narendrapratap Rai, Son of Mr. Narendrapratap Rai, Date of birth
14th June 1968 residing at 01, B-17, Panchsheel, Sector 10, Shanti Nagar, Mira
Road Thane, Pin 401107 hereinafter referred to as THIRD PARTNER.
Whereas, the parties hereto have agreed to commence business in partnership to
provide product and services to Government organization, Public sector and Private
sector. It is expedient to have written instrument of partnership. Now this
partnership deed witnesses as follows:

1. The name the firm shall be in the name and style of “M/s

2. The business of the firm shall be carried out at 1254 0/1 Phase II Kumaran nagar,
Chennai 632009. or at such other places as mutually decided by the partners in
writing.

3. The Object of the business is to provide treatment to patients and nursing activities
including take over of all business with similar objects in part or in full as mutually
decided by the partners.

4. The partnership business shall be deemed to have commenced from the 3rd day
of DECEMBER 2016.

5. The Capital of the partnership shall be Rs.15,00,000/- (Rs.Fifteen lakhs only) and
each partner shall contribute equally.
6. A partner making for the purpose of the business any payment of advance beyond
the capital he/she was agreed to subscribe, be entitled thereon at the rate of 12
percentage per annum.

7. The partners shall mutually maintain the accounts and be in charge of the office and
have all supervision of the business.

8. The Partnership shall open an account in any Nationalised Bank or Scheduled Bank
or Private Bank as mutually decided by them in the name of the Firm and shall
operate such account with signature of ANY TWO partners. The Firm is authorized
to borrow funds from any Bank both for working capital and for business expansion
and all the partners are authorized to sign the relevant documents for and on behalf
of the firm in order to avail such loans.

9. All partners shall share the Profit and Losses of the partnership as ascertained from
year to year as follows.

Percentage share
1) FIRST PART 33.34%
2) SECOND PART 33.33%
3) THIRD PART 33.33%
10. The accounting year shall be adopted as 1st April to 31st March next year and the
first year-end of the firm shall be 31st March 2017.

11. The Partnership shall be at WILL.

12. The partners shall be just and faithful to one another and shall conduct and carry on
the business of the partnership mutually in consultation with each other.

13. Any partner desiring to retire from the partnership shall give to the other partner
three months notice in writing of the intention to retire, and after the expiry of the
said period of three months he shall be deemed to have retired from the
partnership and shall thereafter cease to be a partner thereon.

14. Any dispute arising out of this partnership or as to interpretation, operation, or

enforcement of terms of this partnership between partners, or their legal
representatives shall be referred for adjudication by arbitration as provided in the
Indian Arbitration Act.

15. All the partners are working partners and shall be entitled to receive remuneration
for taking part in the business of the firm and the same shall not exceed
Rs.100000/- per month per partner and the same shall be a charge on the profit of
 the firm subject to availability of Profits as per the Provisions of Income Tax Act,
1961.

16. The business activities of the partners in their other individual capacities, if any,
shall not have any implications whatsoever in the business arrangements of “M/s.

17. The provisions of the Indian Partnership Act, 1932 and as amended shall govern all
matters that are not specified herein from time to time.

18. Any of the above clauses can be varied, altered, substituted, amended, added or
deleted by the parties hereto by mutual consent in writing.

INWITNESS WHEREOF the parties hereto herein have set their respective hand to this
deed of partnership at Chennai on this 21st day of November 2013.

WITNESS: PARTIES TO THE PARTNERSHIP DEED.

1. 1.

2. 2.
PARTNERSHIP AGREEMENT
Partnership Agreement is a contract between partners in a partnership which sets out
the terms and conditions of the relationship between the partners, including:

* Percentage of ownership and distribution of profits and losses.

* Dissolution of management powers and duties of each partner.

* Term (length) of the partnership.

* How the partnership can be terminated.

* How a partner can buy his/her share of the partnership.

A Partnership Agreement should be prepared by an Attorney so as to include all
important 'what if' questions and avoid problems when the partnership end. When
such agreement is put down in writing form it is known as Partnership Deed.

CONTENTS OF PARTNERSHIP DEED

This Partnership Agreement is the foundation for the partnership. Partnership can
arise only from a contract and not status. The agreement that forms the basis of the
relationship between the partners specifies the terms and conditions that bind the
partners into the relationship. This agreement may be oral or written. However, it is
always more prudent to get an agreement in writing rather than orally as the
enforceability of the oral agreement is reliant on its credibility which is not always
easy to prove.

* Names of the parties of the firm and their addresses.

* Duration of partnership
* Capital contribution of each partner and aspects relevant to it like introduction of
additional capital, drawings that can be made etc.

* Interest to be paid on capital, loans given by partners to the firm charged on

drawings and the relevant rates of interest.

* Aspects relating to salaries, commissions etc, to be paid to partners.

* The ratio in which the profits and losses are to be shared among partners.

* Rights and duties of partners inter se among themselves.

Even aspects relating to Arbitration (in case of disputes among themselves etc) will be
part of the agreement.

DISSOLUTION OF A FIRM
A Partnership Firm is an organization and like any other organ it has to either grow or
perish.
The Dissolution of Partnership between all the partners of a firm is called Dissolution
of the Firm (Section 39).

Dissolution of the firm without the intervention of Court can be (a)by

agreement(Section 40), (b)compulsory dissolution in case of insolvency(Section 41),
(c)dissolution on happening of certain contingency(Section 42), (d)by notice if
partnership is at will.(Section 43)

A Firm can also be dissolved by court under Section 44

Thus, if partner is changed/added/or goes out, the relations between them changes
and hence partnership is dissolved but the firm continues. Hence, the change is called
reconstitution of firm. However, complete breakage between relations of the partners
is termed as Dissolution of firm and after such dissolution the firm, the firm no more
exists.

Thus, Dissolution of Partnership is different from Dissolution of Firm. Dissolution of

Partnership is only reconstitution of firm while dissolution of firm means the firm
CONSEQUENCE OF DISSOLUTION
After the firm is dissolved, business is wound up and proceeds are distributed among
partners.

3.