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RECONSTITUTED PARTNERSHIP DEED

This deed of reconstituted partnership is executed on this th day of Feb 2018 by and
between:

1) SRI SURYA VENKATA SUBASH CHANDRA KUNDETI Aged 37 years ,S/O VENKATA
RAMA RAO KUNDETI RESIDING at D.NO:1-11-10,PLOT NO:119,OPP.SATYA SAI BABATEMPLE SECTOR-8
MVP COLONY,VISAKHAPATNAM,ANDHRAPRADESH,INDIA.PIN:530017.VIDE:AADHAR CARD
NO:780106380050 PAN NO:ASOPK7063P hereinafter called the party of the FIRST PART(Managing
partner) herein after called as incoming partner

2) SRI.VEMULAPALLI PRADEEP aged 35 years, S/O RAVINDRA BABU VEMULAPALLI residing


at D.NO:1-2-39/10/1,PLOT NO 48-49 LAKE VIEW COLONYNIAMPET ROAD NEAR BHAVYAS
ANANDAM HYDER NAGAR,KUKATPALLI,HYDERABAD. PIN:500085.Vide: AADHAR CARD
NO:884915637632 PANo.AEFPV8083F herein after called as SECOND PARTY INCOMING PARTNER

3) SRI VENKATA RAMA RAO KUNDETI S/O.LATE.SHRI.SUBBA RAJU KUNDETI aged 68 years,
residing at D.NO:1-11-10,PLOT NO:119,OPP.SATYA SAI BABA TEMPLE SECTOR 8,MVP
COLONY,VISAKHAPATNAM,ANDHRAPRADESH,INDIA PIN:530017
hereinafter called the THIRD PARTY OUTGOING partner)

4] Mrs,SAVITHRAMMA KUNDETI,W/O SHRI.VENKATA RAMA RAO KUNDETI,, aged 63years,


residing at D.NO: 1-11-10,PLOT NO:119,OPP.SATYA SAI BABA TEMPLE SETOR-8,MVP
COLONY,VISAKHAP[ATNAM,ANDHRAPRADESH,INDIA.PIN:530017hereinafter called as FOURTH
PARTY OUTGOING PARTNER.

Whereas the continuing partners and the outgoing partner started a partnership business under
the name and style of ‘’FIRST INFORMATION REPORTING MEDIA’’ office at D.NO:1-11-10,PLOT
NO:119,OPP.SATYA SAI BABA TEMPLE SECTOR-8,MVP COLONY Visakhapatnam
Dist. Pin. -530017 by means of a partnership deed dated 28th October,2016 registered No. as
542/2009 under the Partnership Act by the Registrar of Firms, Visakhapatnam.

INCOMING PARTNER INCOMING PARTNER OUTGOING PARTNER OUTGOING PARTNER

[S.V.S.CHANDRA KUNDETI] [V.PRADEEP] [V.R RAO KUNDETI] [SAVITHRAMMA


KUNDETI
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Whereas as the outgoing partners is not interested to continue in the partnership and asked the
continuing partners to settle their existence in the said business as per the books of accounts with nil
account. the continuing partners agreed for the same and settled to the outgoing partners as per the
books of accounts and the outgoing partner hereby acknowledges receipt of his share in the partnership
business, the outgoing Partner also assure the Continuing partners that they are entitled to carry on the
business of the partnership business, and that the outgoing partner nor his legal heirs will not claim any
amounts from out the partnership business at any time and also assures that he has nothing to do with
the profit and loss of the partnership business.

Whereas in order to avoid any future difficulties and have better understanding the partners
here to have now agreed between themselves to reduce the terms of Partnership into writing by a
formal instrument and thereby regulate and control the relationship between the parties i.e., the
Partners.
The Reconstituted deed shall come into force with effect from: 07-02-2018
1. NAME OF THE FIRM: The name of the firm shall be “ M/S FIRST INFORMATION REPORTING
MEDIA”

2. OFFICE SITUATED AT: The business of the partnership shall be carried on at D.NO:1-11-
10,PLOT NO:119,OPP.SATYA SAI BABA TEMPLE SECTO 8,MVP COLONY,VISAKHAPATNAM,PIN:530017

3. PRINCIPLE PLACE OF BUSSINESS: THE Business of the partnership shall be carried on at


Visakhapatnam and at other place or places as may be mutually agreed upon..

4 NATURE OF BUSINESS: To carry on the business shall be, to enable round the clock media and e-
commerce services through offices and world-wide-web portals,job advertisements, commercial
ads,deploying human resources as required by the client,placement providers through world wide web
(www) portals,classifieds related to infrastructure,educational promotional activities, creating public
awareness about the fundamental issues related to needs of the public life, providing 24/7 telephonic,
online and in –person support to all the services requested by the public in legal manner. the parties
may vary or extend the activity of the business in another line or lines, which the parties hereto may
determine from time to time

5. SHARES IN PROFITS & LOSSES: The profits arising out of the Partnership business shall be divided
and the losses including loss of capital shall be borne by the partners in the following ratios;

6. CAPITAL: The capital required for the Partnership business shall be contributed by the partners as
per their mutual understandings and as per the requirements of business from time to time.

7.MANAGEMENT: It is mutually agreed by both the partners, that the First PARTNER SURYA
VENKATA SUBASH CHANDRA KUNDETI Aged 37 years shall be Managing Partner and shall
have the General power, control and Management of the affairs of the Affairs of the Partnership firm.
The Managing partner shall have the
INCOMING PARTNER INCOMING PARTNER OUTGOING PARTNER OUTGOING PARTNER
[S.V.S.CHANDRA KUNDETI] [V.PRADEEP] [V.R RAO KUNDETI]
[SAVITHRAMMA KUNDETI]

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The General Powers of the Managing Partner are as follows:

a) To appoint agents, employees, workers or other persons and to remove them as and when
necessary expedient and pay such remuneration or wages or other enhancement as he deems fit.

b) To represent the before any local authority, State Government, Central government, or any other
authority in all matters which the firm may at any time be interested.

c) To enter into, make sign and to do all


contracts,agreements,receipts,payments,assignments,transfers,conveyance,sale mortgages, assurances,
instruments and things as may in the opinion of the managing Partner be necessary or convenient or
expedient for carrying of the business of the firm

d) To demand receive, accept, exercise or utilize any claims, things, privilege, license or any object
to which the firm is entitled and to make and give receipt releases and other discharges for money
payable to the firm and for any claims and demands of the firm.

e) To commence and prosecute and to defend, compound and abandon all actions, procedures,
suits claims, demands in relation to the business and property of the firm and for such purpose to sign,
verify and present any document pleadi9ngs or other instruments in writing and to obtain legal advice in
matter affecting the firm.

All the Partners shall assist the First and Managing and shall work for the common advantage of the firm

8.. INTEREST ON CAPITAL:

a) INTEREST @ 18% PER annum or as may be prescribed U/s 40 (b) (iv) of the INCOME TAX
ACT,1961 or any other applicable provisions as may be in force in income tax Act, as amended from
time to time shall be payable to the partners on the capital contributed and credited to such capital
account such interest shall be calculated and credited to the account of each partner at the close of the
accounting year. I

INCOMING PARTNER INCOMING PARTNER OUTGOING PARTNER OUTGOING PARTNER


[S.V.S.CHANDRA KUNDETI] [V.PRADEEP] [V.R RAO KUNDETI]
[SAVITHRAMMA KUNDETI]

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It is also assumed that in case of loss or lower income, the rate of interest can be NILL or lower than
18% as may agreed to be and between the Partners from time to time

9.DURATION: The duration of the partnership shall be AT WILL but in case any PARTNER DESIRES TO
RETIRE FROM THE Partnership he/she shall be at liberty to do so by giving the one month’s notice in
writing to the other partner. If it happens so, the remaining Partners can do the same business

PROFIT AND LOSS SHARING RATIO: The profit arising out of the partnership business shall be divided
and the losses including loss of capital shall be S.NO. Name of the Partners

1.S.V.S.CHANDRA KUNDETI 99% 2.Pradeep vemulapalli 1%

3.OUT GOING PARTNER NIL 4 . OUT GOING PARTNER NIL

10. BORROWALS: The Managing partner SURYA VENKATA SUBASH CHANDRA KUNDETI may
borrow funds required for the partnership business from such persons banks, financial institutions and
other organizations to such extent and at such rates as they deems expedient. this connection, he/she
shall either pledge the assets of the Partnership firm or give personal guarantee to obtain such loans
The borrowers should be made with the consent of all the Partners.

12. BANK ACCOUNTS: All bank accounts shall be opened in the name of the partnership firm only and
the same shall be opened and operated by the SRI.SURYA VENKATA SUBASH CHANDRA KUNDETI only.

13. BOOK OF ACCOUNTS: All necessary and proper books of accounts shall be kept and maintained by
the partnership[p firm, wherein shall be entered particulars of all moneys goods and effects belong to or
owing to by The partnership firm or paid, received, sold or purchased in the course of the partnership
business and of such other transactions, matters and things relating to the said business as are usually
entered in the books of accounts, kept by persons engaged in a business of the like character.

The said books of Account together with all letters, papers or writings concerning or belongs to the
partnership firm, shall be kept at the place of business of the partnership and each partner shall, at all
times, have free access to and the right to inspect and copy of the same.

14. ARBITRATION: Any dispute or difference the may arise among the partners with respect to the
construction or interpretation of this deed or any matter relating to the partnership affairs shall be
referred to Arbitration under the provisions of Indian Arbitration Act.
INCOMING PARTNER INCOMING PARTNER OUTGOING PARTNER OUTGOING PARTNER

[S.V.S.CHANDRA KUNDETI] [V.PRADEEP] [V.R RAO KUNDETI]


[SAVITHRAMMA KUNDETI]

Contd.5..

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15. JURISDICTION: Every matter out of this deed and all transactions covered by it or subject of the
jurisdiction of Visakhapatnam Court only.

16. MISCELLANEOUS: All other matters in respect of which this agreement is silent shall be decided by
mutual consent of the partners in writing under the provisions of the partnership Act.

17. GENERAL: That in all respects other than those provided from herein this partnership shall be
governed by Indian Partnership Act.

18. DEATH: On the death of any partner the partnership business shall not stand dissolved and the
share of the deceased partner shall be settled by the surviving partner duly preparing the statement of
accounts and he is answerable to his/her nominee or in the absence of nominee his/her legal heirs,
executors, administrators, legal representatives.

19. RETIREMENT: Any partner desiring to retire from the partnership shall give to the other partners
one month notice in writing of his intention to retire and after the expiry of the said period of one
month he shall be deemed to have been retired from the partnership and he shall thereafter of the
partnership as on the date of retirement of the partner, his share of profit or loss shall be ascertained
and paid to him along with his share in the capital and assets/liabilities on or before the expiry of 3
months from the date of retirement.

The other covenants, which are not specially covered under this deed, the covenants of the
Indian Partnership Act 1932 shall apply.

IN WITNESS WHEREOF, The partner hereto set their hands in token of their acceptance of all the
terms and conditions contained herein in this deed, on the day, month and year first mentioned.

INCOMING PARTNER INCOMING PARTNER OUTGOING PARTNER OUTGOING PARTNER


[S.V.S.CHANDRA KUNDETI] [V.PRADEEP] [V.R RAO KUNDETI]
[SAVITHRAMMA KUNDETI]

WITNESSES:

NAME ADDRESS SIGNATURE