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PARTNERSHIP DEED

This Deed of Partnership is entered into on this …..st day of June 2019
between:

1 ANIL KUMAR P P 49 Years, S/o G PRABHAKARAN NAIR, residing at EALI


MADOM HOUSE, ALLIANCE JN, THRIPUNITHURA, PIN. 682 301. Herein after
called the party of the first part and Deemed as MANAGING PARTNER.

2. SURESH KUMAR.S, 5 YEARS, S/o SREEDHARAN NAIR, VIJAYA LAKSHMI


VILASAM, PUTHIYA VILA, MUTHUKULAM SOUTH, KAYAMKULAM,
ALAPPUZHA, PIN 690506 Herein after called the party of the second part.

1. ANIL KUMAR P P
(MANAGING PARTNER)

2. SURESH KUMAR.S
(Party of the second part)
WHEREAS the aforesaid parties have, after ,mutual consolation and discussion, decided
between themselves to form a partnership to carry on the business of MAINLY DEALING
IN WHOLE SALE AND RETAIL OF ALL TYPES OF VEGETABLES.

NOW THEREFORE THIS DEED WITNESS AS UNDER.

1. That the partnership business commences from the date of execution of this deed of partnership.

2. That the partnership business shall be carried on under the name and style of
M/s. SAM ORGANIC SOLUTIONS such other name or names as the parties to this deed may
mutually agree upon from time to time and the address shall be, or such other place in accordance
with the mutual agreement of the partners.

3. That the business of the firm shall be carried on at KANJIRAMATTOM or such place or places
as the parties to this deed may mutually agree upon from time to time.
4. That the business of the firm shall be to do the business of mainly DEALING IN
MANUFACTURING AND MARKETING OF ALL TYPES VEGETABLES.

5. The capital of the firm shall be Rs. 5,00,000/- (5 LAKHS ONLY) which shall be contributed by
the partners equally.

6. That the profits, losses, assets and liabilities of the firm shall be divided or borne by the partners
ASPER RATIO.
7. That the firm may raise loans from banks or from any other sources. Interest and other charges
thereon shall be borne by the firm.

8. That the firm may borrow funds from the partners and such loans shall bear an interest @12%
per annum. The partners are also entitled to an interest @12% per annum on the amount standing
to their credit in their respective Capital account and Current account.

9. That the bank account shall be opened in one or more banks in the name of the firm and the same
shall be operated under joint signature of two of the parties to this deed.

1. ANIL KUMAR P P
(MANAGING PARTNER)

2 SURESH KUMAR.S

(Party of the second part)


10. That the two parties ie; Party of the First Part and Party of the Second Part to this deed shall be
working partners of the firm. The working partners shall be responsible for the day to day
management of the business including appointment of staff, fixation of their remuneration,
termination of their services and they shall jointly or any of them on authorization by all partners
represent the firm before third parties including Government authorities and shall execute
documents and other papers on behalf of the firm and will inform these matters to the silent
partner from time to time.

11. It is hereby agreed that in consideration of the services as working partners each of the
said working partners shall be entitled for a salary cum remuneration as mentioned below
:

(i) PARTY OF THE 1ST PART Rs. 10,000/-


(ii) PARTY OF THE 2ND PART Rs. 10,000/-

However, in case of loss or lower income or for any other reason, the remuneration
payable to the said working partners may be reduced as decided by the partners
mutually subject to that in any case, a minimum remuneration calculated at 5% of
the remuneration worked out as above, shall be paid to each working partner.

12. The partners shall

a) carry on the business of the firm to its greatest common advantage,


b) be just and faithful to the other partner and shall render true accounts and full
information affecting the firm to the other parties or their legal representatives, and pay
his separate and private debts and shall indemnify the other partners and the partnership
assets against all proceedings, claims and demands in respect thereof.

1. ANIL KUMAR P P
(MANAGING PARTNER)

2 SURESH KUMAR.S

(Party of the second part)


13. That no partner without the written consent of the other partners shall :
a) Sell, mortgage or otherwise alienate, assign or charge his share, interest in the assets
or profits of the firm.
b) Lend money belonging to the firm except in the ordinary course of the business.
c) Dispose of by pledge, sale or otherwise any part of the partnership property or profits,
except in the ordinary course of business, and
d) Remit the whole or any part of any debt or sum due to the firm.

14. That each partner shall have the authority in an emergency to do all such acts that may
become necessary for the purpose of protecting the firm from any losses, as would be
done by a person of ordinary prudence, in his own case, acting under similar
circumstances and such acts shall bind the firm.

15. That no acts done or instrument executed by a partner, other than an act done or
instrument executed in the firm name, or in any other manner expressing or implying in
intention to bind the firm, shall bind the firm.

16. That the books of accounts shall be maintained at the place of business of the firm and
the parties to this deed shall be at liberty to inspect them and take copies thereof at all
reasonable times during the business hours of the firm.

17. That the books of accounts shall be closed once in every year on 31st March and the first
accounting year of the firm shall end on 31st March 2014.

18. That if any of the parties is desirous of retiring from the firm, he or she shall give at least
60 days notice in writing before the date of retirement and the retiring partner shall be
entitled to all amounts due to him or her including his or her capital or share of profits up
to the date of retirement and shall be paid the amount in six equal installments; the first
such installment failing due on the first week of next month after the retirement .If,
however, the amount could not be paid within the said period, the retiring partner shall
be entitled to an interest of 12% per annum on the sum due to him/her and the firm shall
pay the amount with interest within the next six months.

19. That on death or retirement of any of the partners, the firm shall not stand dissolved but
shall be carried on by the remaining partners. In the event of death of any partner, the
legal heirs or successors of the deceased may be admitted to the partnership in the place
of the deceased partner only if the continuing partners mutually agreed upon.

1. ANIL KUMAR P P
(MANAGING PARTNER)

2 SURESH KUMAR.S

(Party of the second part)


That on death or retirement of a partner or dissolution of the firm, the Goodwill of the firm
shall be valued by mutual consent and shall be shared by the partners in their profit sharing
ratio.

20. That all disputes and differences relating to the partnership or its dissolution or arising
out of this deed between the parties to this deed or between their legal representatives or
between any of the parties to this deed and the legal representatives or between any of
the parties to this deed and the legal representatives of the others; whether during the
subsistence of the partnership or at any time thereafter, shall be referred to arbitration in
accordance with the provision of Indian Arbitration Act 1940, and any modifications
made therein and the decision or award given by the arbitrators shall be binding on all
the parties hereto.

21. That for any other matter for which no stipulation is made in this deed, the provisions of
Indian Partnership Act, and 1932 shall apply.

22. That any of the aforesaid clauses may be altered or amended by mutual consent of the
parties, which shall be recorded in the Minutes Book of the firm.

IN WITNESS WHEREOF the parties hereto have signed this deed of partnership at
VAIKOM of the month and year above written in the presence of the underwritten witness.

1. ANIL KUMAR P P
(MANAGING PARTNER)

2 SURESH KUMAR.S

(Party of the second part)

Witness of the above signatures:

1.

2.