AAMANTRAN ENTERPRISES

DEED OF RECONSTITUTION OF
PARTNERSHIP

DEED OF RECONSTITUTION OF PARTNERSHIP

THIS DEED OF RECONSTITUTION OF PARTNERSHIP executed on 1 ST of
July in the year Two Thousand Eight at Mumbai BETWEEN :

1. Shri Nandkumar Yeshwant Shivdikar, aged around ___ years,

son of Shri Yeshwant Shivdikar resident of 16/8, Koli Samaj CHSL,
Sewri Koliwada, Mumbai 400015. Hereinafter referred to as the
Party of FIRST PART ( which expression shall unless repugnant to
the context or meaning thereof include his legal heirs,
representatives, administrators, executors or assigns );

The party of the FIRST PART is hereinafter also referred as a

CONTINUING PARTNER.

2. Shri Kakasaheb Ramchandra Kanse, aged around ___ years,

son of Shri Kakasaheb Ramchandra Kanse resident of Rook No.
101, Sidhivinayak Sankul, Forest Colony, Bhavani Nagar Road, Opp
Swami Samarthg Math, Kalyan (West) Thane District, Hereinafter
referred to as the Party of SECOND PART ( which expression shall
unless repugnant to the context or meaning thereof include his
legal heirs, representatives, administrators, executors or assigns );

3. Shri Dinesh Shashikant Korgaonkar, aged around ___ years,

son of Shri Shashikant Korgaonkar residing at B.I.T. Block 3/174,
Lovelane, Motishah Lane, Mazagaon Mumbai 400010 Hereinafter
referred to as the Party of THIRED PART ( which expression shall
unless repugnant to the context or meaning thereof include his
legal heirs, representatives, administrators, executors or assigns );

4. Shri Mahesh Shashikant Korgaonkar, aged around ___ years,

son of Shri Shashikant Korgaonkar residing at B.I.T. Block 1/149,
Lovelane, Motishah Lane, Mazagaon Mumbai 400010 Hereinafter
referred to as the Party of FOURTH PART ( which expression shall
unless repugnant to the context or meaning thereof include her
legal heirs, representatives, administrators, executors or assigns );

The party of the SECOND PART TO FOURTH PART is hereinafter

also referred as a RETIRING PARTNER.

5. Shri Neel Yeshwant Shivdikar, aged around ___ years, son of

Shri Nandkumar Yeshwant Shivdikar resident of 16/8, Koli Samaj
CHSL, Sewri Koliwada, Mumbai 400015 Hereinafter referred to as
 the Party of FIFTH PART (which expression shall unless repugnant
to the context or meaning thereof include his legal heirs,
representatives, administrators, executors or assigns);

6. Shri Neel Yeshwant Shivdikar, aged around ___ years, son of

Shri Nandkumar Yeshwant Shivdikar resident of 16/8, Koli Samaj
CHSL, Sewri Koliwada, Mumbai 400015 Hereinafter referred to as
the Party of SIXTH PART (which expression shall unless repugnant
to the context or meaning thereof include his legal heirs,
representatives, administrators, executors or assigns);

7. Shri Neel Yeshwant Shivdikar, aged around ___ years, son of

Shri Nandkumar Yeshwant Shivdikar resident of 16/8, Koli Samaj
CHSL, Sewri Koliwada, Mumbai 400015 Hereinafter referred to as
the Party of SEVENTH PART (which expression shall unless
repugnant to the context or meaning thereof include his legal
heirs, representatives, administrators, executors or assigns);

The party of the FIFTH PART TO SEVENTH PART hereinafter also

referred as a INCOMING PARTNERS.

WHEREAS, the parties hereto of the FIRST PART TO FOURTH PART were
carrying on the business of Ice Cream manufacturing, trading, food
processing, cold storage and retailing and such other business or
businesses as may be agreed upon ny the partners from time to time
under the name and style " M/S AAMANTRAN ENTERPRISES " under
the Deed of Partnership executed on 28th April 2015.

WHEREAS, the party of the SECOND PART TO FOURTH PART, have

expressed their desire to resign as partner in their Partnership Firm
under the name and style " " M/S AAMANTRAN ENTERPRISES "
under the Deed of Partnership executed on 28th April 2015 with
effect from 1ST JULY 2019 which was accepted by the Party of the FIRST
PART on the terms and conditions agreed upon by all.

WHEREAS, the party of the FIFTH PART TO SEVENTH PART, have

expressed their desire to join the party of FIRST PART in their Partnership
Firm under the name and style "M/S AAMANTRAN ENTERPRISES"
with effect from 1ST JULY 2019 which was accepted by the Party of the
FIRST PART TO FOURTH PART on the terms and conditions agreed upon
by all.
AND WHEREAS the Continuing Party and the Retiring Parties hereto are
desirous of recording the said terms and conditions into writing.

1. It is agreed that the Retiring Partners have retired from the

partnership business carried on under the name and style of "M/S
AAMANTRAN ENTERPRISES" (Hereinafter called the "said firm") and
accordingly they cease to be Partner of the said firm from the close of
30th June day 2019 and the parties hereto mutually agree to do all the
things necessary according to the provisions of the Indian Partnership
Act 1932 or any modification or re-enactment thereof for the time being
in force in order to give effect to the said Retirement.

2. The parties hereto agree that the changes herein recorded are
changes consequent upon change in the constitution of the firm not
involving the Dissolution of the firm.

3. The parties hereto have prepared the Balance Sheet as on

30.06.2019, being relevant to the date of retirement and reflecting all
assets and liabilities of the firm and have determined the amounts
payable to the Retiring Partners which shall be paid on or before
31.07.2019.

4. In view of the retirement with effect from the close of 30th day of
June, 2019 the Retiring Partners, shall have no share, right, title or
interest or claim of any nature whatsoever to or in the said partnership
firm or business or assets of its name or its properties, whether tangible
or intangible, including the out-standings etc. whatsoever and
whosesoever, save and except as herein provided.

5. It is hereby covenanted that from and since the date of retirement the
Retiring Partners have no claim or interest in the running business of the
firm or in the benefits, rights, enjoyment and advantages of established
name, licenses, registrations and all tangible and intangible advantages
and incidental rights held by the firm and they continue to belong to the
firm.

6. The CONTINUING PARTNER hereby confirm that he will duly discharge

the liabilities of the firm which may arise after 30.06.2019, in respect of
the business carried on by the said firm at any time during the existence
of the firm.
7. The Retiring Partners hereby covenants with the CONTINUING
PARTNER that they had not in any way heretofore contracted any debts
or obligations save and except those which are recorded in the books of
accounts. If, however, any such debts or liabilities be found to exist or
due on the date of retirement but not recorded in the books of accounts,
the same shall be discharged by the concerned Retiring Partners. Save
and except as provided in this clause, the CONTINUING PARTNER shall
have no claim against the Retiring Partners of any nature whatsoever.

8. Save and except as herein otherwise provided the Retiring Partners

shall in no way be responsible for any of the liabilities of the firm
relating to the business carried on by the firm after the date of
retirement and without effecting the generality, this will include
registered firm's tax and indirect taxes and dues to any Government
and/or Municipal or any other semi Government body. The CONTINUING
PARTNERS shall reimburse and keep the Retiring Partners indemnified
against all such liabilities and claims and against all costs and charges
that may become liable to the third parties claiming against the firm of
M/s. AAMANTRAN ENTERPRISES.

9. That the Retiring Partners shall pay and discharge their personal
liabilities for Income tax in respect of the profit of the partnership firm
up to the date of retirement and shall keep others and each of the
Continuing Partner indemnified against all claims, actions, demands
and/or suits or proceedings, costs, charges or expenses arising out of or
concerning the same or relating thereto.

10. The Retiring Partners shall not have any claim to and shall not share
the profit including gains, and/or surplus or accretion as also loss,
damage, etc. arising to CONTINUING PARTNER from the ownership of
various assets of the firm or for carrying on of the firm's business after
30 day of June, 2019.

11. The CONTINUING PARTNER shall be entitled to collect and recover all
the outstanding, effects and properties of the said partnership and shall
have full rights and absolute power to ask, demand sue, recover and
receive and give valid receipts and discharges for all the singular debts
and effects or dues owing or in any way belonging to the said
partnership firm and to settle all accounts, matters and things
whatsoever relating to the said partnership or the business thereof with
all person or persons and to the said partnership or the business thereof
with all person or persons and to compound or compromise any of the
debts or claims of the said partnership and to prosecute any action or
other legal proceedings, if any, that may be filed or adopted in
connection with the said business or liabilities or claims thereof and the
RETIRING PARTNERS irrevocably nominate and constitute the
CONTINUING PARTNER or any one or more of them or otherwise as their
attorneys to do all acts, deeds, matters and things aforesaid as may be
necessary.

12. The parties hereto agree to sign such forms and/or documents as
may be necessary to give effect to or implement effectively the
provisions of this Deed.

13. All disputes or difference which may arise amongst or between any
of the Parties hereto or their legal representatives with regard to this
Deed or any part thereof or with regard to the amount of profit or loss of
the business, or the rights and liabilities of the partners under this Deed
or regarding any other matter relating to the settlement of accounts
between the parties, the said dispute or disputes shall be referred to a
sole Arbitrator appointed by the parties hereto by mutual consent. In the
event of there being no unanimity the dispute shall be referred to a
group of arbitrators one to be appointed by each party hereto and the
arbitration proceedings will be conducted in accordance with and
subject to the provisions of the Arbitration Act, 1996 or any other
statutory modifications or reenactment thereof for the time being in
force.
AND WHEREAS the Continuing Party and the Incoming Parties hereto are
desirous of recording the said terms and conditions into writing.

1. NAME OF THE FIRM :

The business of the firm shall be continued in the name and style
" M/S AAMANTRAN ENTERPRISES ".

2. COMMENCEMENT OF BUSINESS :

The reconstituted partnership firm shall be deemed to have

effect from 1ST JULY 2019.
3. PLACE OF BUSINESS :

The registered office of the firm shall be situated at ______________,

Mumbai 400 015 and / or any other place or places as may be
mutually agreed upon by and between the parties hereto from
time to time.

4. NATURE OF BUSINESS :

The business of the firm shall be that of Food Processing, running

Hotel, Restaurants, Lending money, accepting money on Loan, to
lend and advance money and assets of all kinds or give credit on
any terms or mode and with or without security to any individual
or any other entity, to receive money on deposits or loan upon
any terms and doing all activities allied and incidental to the
above object and any other business/es that the partners may
agree upon, from time to time.

5. DURATION :

The duration of the partnership shall be “ AT WILL “.

6. CAPITAL :

The fixed capital of the partnership shall be Rs. 50, 000 /-

( Rupees Fifty Thousand only ) which will be contributed as
mutually decided upon by the partners.

7. INTEREST ON PARTNERS’ CAPITAL :

It is agreed by and between the partners that simple interest at

the rate that will be agreed upon by all the partners not exceeding
12 % per annum, further subject to the rate prescribed under
section 40 (b) of the Income Tax Act shall be payable by the
partnership on the amount standing to the credit of Capital and/ or
Current and/ or Loan Accounts of the partners. Interest at the
same rate shall be payable by the partners on the debit balances
in their capital and/or current and/or loan accounts if any.

8. SALARY TO PARTNERS :
All the four partners have agreed to work in the partnership
hereinafter referred to the " Working Partners ") shall devote their
time and attention in the conduct of the affairs of the firm, as the
circumstances and business needs may require. It is hereby
agreed to that in consideration of the working partners devoting
their time and attention to the business of partnership firm and
working in the partnership they shall be entitled to draw
remuneration. The total remuneration payable to the working
partners shall be shared as follows :

Sr. Name of the partner Share

No. %
1 Mr. Nandkumar Y 20%
Shivdikar
2 Mr. Neel N. Shivdikar 20%
3 Mr. Nandkumar Y 20%
Shivdikar
4 Mr. Nandkumar Y 20%
Shivdikar
5 Mr. Nandkumar Y 20%
Shivdikar
Total 100%

The total remuneration payable to the working partners shall be

worked out as under :

BASIS AMOUNT OF
SALARY

i. On first Rs. 75,000 /- of Book @ 90 % of Book

Profit Profit
ii. On next Rs. 75,000 /- of Book @ 60 % of Book
Profit Profit
iii. On Balance of Book Profit @ 40 % of Book
Profit
If the Book Profit is less than Rs. 50000 /- the remuneration
payable will be equal to the available Book Profit only.

EXPLANATION :
 For the purpose of this clause the expression " Book Profit " shall
mean the Book Profits as defined in section 40 (b) of the Income
Tax Act, 1961, or any statutory modification or re-enactment
thereof, for the time being enforce. The remuneration payable to
the working partner as above shall be credited to their accounts
on ascertainment of Book Profits.

9. ACCOUNTING YEAR :

The accounting year of the firm will be from 1 st April to 31 st

March of next year i.e. financial year.

10. SHARE IN PROFIT AND LOSSES :

The net profits and/or losses of the firm shall be shared by the
partners as follows :

Sr. Name of the partner Share in profits and

No losses
. %
1 Mr. Nandkumar Y 20%
Shivdikar
2 Mr. Neel N. Shivdikar 20%
3 Mr. Nandkumar Y 20%
Shivdikar
4 Mr. Nandkumar Y 20%
Shivdikar
5 Mr. Nandkumar Y 20%
Shivdikar
Total 100%

11. BANK ACCOUNT OPERATIONS :

Bank accounts of the partnership shall be operated by signature of

Partner Mr. BBB jointly with the signature of any of the remaining
partners with mutual consent.

12. RETIREMENT :
 Any partner may retire from this partnership after giving THREE
month's notice to the other party.

13. CONTINUATION OF THE FIRM :

In the event of death, retirement, insolvency or bankruptcy or

liquidation or winding up of a partner during the subsistence of
the Partnership, the partnership shall not be dissolved. It shall
continue to be carried on by the remaining partners / by admitting
the new partner/s.

14. ARBITRATION :

All disputes and questions whatsoever, which shall arise, whether

during the continuance of the Partnership or afterwards between
the Partners and /or their heirs and /or the legal representatives
and /or between any person (s) and any of the Partners, touching
these presents and Deed of Partnership, or the construction of any
of the Clauses, and as to any deed of commission or omission,
and/or as to any right of any individuals/Partners, or as to any
matter relating in any way to Partnership of the affairs there of,
the same shall be referred to arbitration in accordance with
the provisions of the Arbitration Act and no Partner shall be
entitled to take recourse to the Court of Law without reference to
arbitration.

15. RIGHT IN GOODWILL :

The retiring or deceased partner/s shall not have any right in the
Goodwill of the firm.

16. RESIDUAL CLAUSE :

Anything not provided herein, touching the partnership business

shall be decided by the mutual consent of the partners and shall
be governed by the provisions of the Indian Partnership Act, 1932.

IN WITNESS WHEREOF the said parties hereto have hereunder set their
respective hands to this deed of partnership, the day and the year first
hereinabove mentioned.
SIGNED AND DELIVERED BY THE
Shri Nandkumar Yeshwant Shivdikar
within named Continuing Partner in
the presence of

SIGNED AND DELIVERED BY THE

Shri Neel Nandkumar Shivdikar
within named Incoming Partner in
the presence of

SIGNED AND DELIVERED BY THE

Shri _____ Nandkumar Shivdikar
within named Incoming Partner in
the presence of

SIGNED AND DELIVERED BY THE

Smt ________ Nandkumar Shivdikar
within named Incoming Partner in
the presence of

SIGNED AND DELIVERED BY THE

Smt ________ Nandkumar Shivdikar
within named Incoming Partner in
the presence of

SIGNED AND DELIVERED BY THE

Shri Nandkumar Yeshwant Shivdikar
within named Continuing Partner in
the presence of