Deed of Partnership

This deed of partnership is made on 06th Aug, 2019 between:

1. Mr. Amolak, son of Shri. Vidya Sagar, residing at 825, Sec-37, Faridabad, Haryana
hereinafter referred to as FIRST PARTNER.
2. Mr. Supreet Singh, son of Shri. Mohinder Singh, residing at 2-c/66 N.I.T 2, Faridabad,
Haryana hereinafter referred to as SECOND PARTNER.

Whereas, the parties hereto have agreed to commence business in partnership, which shall
come into force from 10th Aug 2019, and it is expedient to have written instrument of
partnership. Now this partnership deed witnesses as follows:

ARTICLE 1: NAME OF BUSINESS

1.1 The parties herby mutually agreed, that the afore mentioned business shall formally be
named as ‘Stallion’

ARTICLE 2: PLACE OF BUSINESS

2.1 The principal place of the partnership business will be situated at Super Nova, Noida-
2, 161202, Uttar Pradesh.
ARTICLE 3: MANAGEMENT

3.1 The First Partner of the firm shall be Managing Partner and he will look after all the
day to day transaction of the firm and any legal activities in the name of the firm and
the remaining partners shall co-operate to do so.

ARTICLE 4: BUSINESS ACTIVITY

4.1 The parties here to have mutually agreed to carry on the business of formally drafting
partnership deeds, in exchange of capital.

ARTICLE 5: DURATION OF PARTNERSHIP

5.1 The duration of the partnership will be at will.

ARTICLE 6: CAPITAL OF THE FIRM

6.1 Initially the capital of the firm shall be Rs. 5000000, (5 crore), from which the First
partner shall be liable for investment of Rs. 0, and Second partner shall be liable for the
payment of Rs. 5000000.

ARTICLE 7: PROFIT SHARING RATIO

7.1 The profit of the business shall be shared in ratio of 50:50, among partner one and
partner two respectively. And the loss in business shall be shared in ratio on 0:100,
among partner one and partner two respectively.

ARTICLE 8: OPERATION OF BANK ACCOUNTS

8.1 The firm shall open a current account in the name of ‘Stallion’ at any bank and such
account shall be operated by First Partner and Second Partner jointly as declared from
time to time to the Banks.

ARTICLE 9: BORROWING

9.1 The written consent of all Partners will be required for the partnership to avail credit
facilities from any financial institution.
9.2 Any partner who needs to borrow any sum of money from the partnership fund, shall
be charged with the interest of 40 per cent PA.
*Exception – The above mentioned clause (2) shall not be applicable, against First Partner.

ARTICLE 10: ACCOUNTS

10.1 The firms shall regularly maintain in the ordinary course of business, true and
correct accounts of all its transactions and also of all its assets and liabilities, the
property books of account, which shall ordinarily be kept at the firm’s place of
business. The accounting year shall be the financial year from 1st April onwards and
the balance sheet shall be properly audited and the same shall be signed by all the
Partners. Every Partner shall have access to the books and the right to verify their
correctness.

ARTICLE 11: RETIREMENT

11.1 If any partner shall at anytime during the subsistence of the partnership, be desirous
of retiring from the firm, it shall be competent from his to do so, provided he shall give
at least one calendar month notice of his intention of doing so. The remaining partner
shall pay to the retiring partner or his legal representatives of the deceased partner, the
purchase money of his share in the assets of the firm.
11.2 The retiring partner shall also be subject to a non-compete agreement.

Exception – The above mentioned clause (2) shall not be applicable, against First Partner.
ARTICLE 12: DEATH OF PARTNER

12.1 In the event of the death of any partners, one of the legal representatives of the
deceased partner shall become the partner of the firm and in the event the legal
representative show their denial to point the firm, they shall be paid the part of the part
of the purchase amount calculated as on the date of the death of the partner.

ARTICLE 13: ARBITRATION

13.1 Whenever there by any difference of opinion or any dispute between the partners
the partners shall refer the same to an arbitration of one person. The decision of the
arbitration so nominated shall be final and binding on all partners, such arbitration
proceedings shall be governed by Indian Arbitration Act, which is in force.

In witness whereof, this deed of partnership is signed sealed and delivered this 6th Aug,
2019 at Faridabad, Haryana:

FIRST PARTNER SECOND PARTNER

(Amolak) (Supreet Singh)

825, Sec-37, 2-C/66, N.I.T 2,
Faridabad, Haryana Faridabad, Haryana

WITNESS ONE WITNESS TWO

(Mr. Badsha) (Mr. Nawab)

825, Sec-37 2-C/66, N.I.T 2,

Faridabad, Haryana Faridabad, Haryana