Partnership Deed

PARTNERSHIP DEED
This Deed of Partnership is executed on this the ………day of ………,

20……. by and amongst:-
1. …………………………………………...…. S/o ………………..……………..

Address …………………………………………………………………….……....
(hereinafter referred to as the “First Party” which expression shall, unless
excluded by or repugnant to the context be deemed to mean and include its
administrators and permitted assigns);
AND
2. …………………………...……………….… S/o ………………………………
Address ………………………………………………………………….…………
(hereinafter referred to as the “Second Party” which expression shall,
unless excluded by or repugnant to the context be deemed to mean and
include its administrators and permitted assigns).
WHEREAS the parties above named intend to carry on the business in

partnership in the name and style of ……………….……………...…………
(name of the firm) vide this Deed of Partnership.
WHEREAS all the above said two parties (the “Partners”) have decided to
enter into a Partnership through this Deed of Partnership.
AND WHEREAS all the parties referred to above hereby desire that the
terms and conditions be reduced in writing to do away any avoidable
disputes and misunderstanding that may arise in future.
NOW THEREFORE THIS PARTNERSHIP DEED WITNESSETH AS

UNDER :-
1. That the partnership business shall be carried on under the name and
style of ………………………………..(name of the firm).
2. That the business of the partnership firm

………………………………………………………… (Business object)etc. or
any other business as may be decided from time to time mutually by all the
partners to this Deed.
3. That Head Office of the partnership firm will be at

……………………… (address of the firm).The principal place of business
may be shifted to such other place or places as the partners may
unanimously decide from time to time.
4. That any branch may be opened under any name and style at such
place or places as the partners may decide from time to time.
5. That the terms and conditions of the partnership shall be deemed to

have been commenced with effect from the ………day of …………, 20……
6. That the capital required for the partnership shall be contributed by the
partners as mutually agreed upon amongst the partners.
7. That the regular books of accounts of the partnership shall be
maintained at the place of business which shall be closed on 31st day of
March each year and each partner shall have access to and power to have
copies of the same. All the transactions entered into by them on behalf of
the firm shall be faithfully recorded therein.
8. That at the end of each accounting year, the firm’s accounts shall be
drawn up and the Profit & Loss Account and the Balance Sheet of the firm
prepared and the Profit and/or losses falling to the share of each partner
shall be credited or debited to the respective accounts.
9. That the Profit and Loss Account and the Balance Sheet shall be duly
signed by any two partners and upon signing the same shall be binding and
final.
10. That the Profits and Losses as per Profit and Loss Account of the
partnership business shall be divided amongst the partners as under.
1. …………..%
(Part of the First party)
2. ……………. %
(Part of the Second party)
11. That the bank account(s) of the partnership shall be operated by any of
the partner to this deed or as may be mutually decided time to time.
12. No partner, without the written consent of the all the other partners shall
do or abet in doing any of the following acts:-
(i)Sell, mortgage, assign or otherwise transfer his share or interest in the

partnership business or property.
(ii)Charge, mortgage, hypothecate, assign or otherwise transfer the
business, property or rights of this partnership firm.
13. That the partnership is “AT WILL” and can be dissolved at any time with
the mutual consent of all the parties to this deed.
14. That all the parties to this deed shall work diligently and faithfully to the
common advantages of the firm and shall render true and correct
information to each other.
15. That any consent or difference which may arise between the partners
or their legal heirs, successors or representatives with regard to the
construction, meaning and effect to this deed and/or any part thereof or in
respect of the accounts, profits or losses of the business of the said firm or
any other matter relating to the firm shall be referred to arbitration under the
Indian Arbitration Act, 1940.
16. That the provisions of the Indian Partnership Act, 1932 shall apply as
regards matters not expressly provided for hereinbefore in this partnership
deed.
17. That any of the above terms, conditions and stipulations may be
altered, varied or added to by mutually taking the consent of all the partners
in writing.
18. That all business expenses shall be borne by the Partnership Firm.
19. The powers and duties of the Partners, which shall be exercised at their
sole discretion with mutual consent (written/verbal) from partners, shall
include but not be limited to the below:
– To convert this partnership Firm in LLP or Pvt. Ltd. or Ltd. Company as

and when Partner opts to do so.
– To acquire, purchase, takeover and /or amalgamate business or

undertakings of companies or firms which under existing circumstances,
from time to time, may conveniently or advantageously be combined with
the business of the firm, to amalgamate or merge with companies whose
business are so acquired, purchased or taken over and/or to enter into any
agreement with the object of acquisition of such undertaking and/or
business.
– To go into acquisition, purchase, takeover and/or amalgamate of other

entities or vice versa as and when Partner opts to do so.
– To sell, mortgage, assign or lease and in any other manner feel with or
dispose off the firm or properties of the firm or any part thereof, whether
movable or immovable for such consideration as the Partners of the firm
may think fit.
To sell, mortgage, assign, lease or dispose off the properties/assets of the
firm (including movable and immovable) to any person, company or other
entity at mutually agreed prices by the partners.
20. That the capital required for the business of Partnership shall be
contributed time to time by the PARTIES in such manner in all respect as
may be agreed to between them. A simple interest @ 12% p.a. shall be
payable by the firm to the parties.
21. That any partner may draw salary, remuneration and or commission for
working in the partnership firm as agreed upon between the partners.
22. That the books of accounts and other documents belonging to the firm
shall be kept at the place of business only and shall at all reasonable times,
be open for inspection by any of the parties or his authorized agent.
23. The written consent of all Partners will be required for the partnership to
avail credit facilities from any financial institution.
24. That the matters for which no provisions have been made in this deed
may be decided upon by mutual consent of the parties in writing.
25. Joing of new partner:- The Firm may decide to take in any new investor
as one of the partner after he /she /it remits the requisite funds as per the
Firm’s requirements w.e.f. 01st April and in the intervening period simple
interest will be payable by the Firm on the investment /deposits made by
such new investor as per saving bank account rate of interest of
nationalized bank.
26. That unless provided hereinbefore, the provisions of the Indian

Partnership Act, 1932 shall apply.
IN WITNESS WHEREOF the parties hereto have set and subscribed their
hands on the day, month and year first mentioned above.
WITNESSES : EXECUTANTS
WITNESS NAME SIGNATURE
1. Name:-
Address:-
2. Name:-
Address:-
Name of Partners Signatures/Thumb Imp. Photo
1.
(First party)
……………………………….
2.
(Second Party)
………………………………..

Partnership Deed

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PARTNERSHIP DEED

This Deed of Partnership is executed on this the ………day of ………,

1. …………………………………………...…. S/o ………………..……………..

WHEREAS the parties above named intend to carry on the business in

NOW THEREFORE THIS PARTNERSHIP DEED WITNESSETH AS

2. That the business of the partnership firm

3. That Head Office of the partnership firm will be at

5. That the terms and conditions of the partnership shall be deemed to

(i)Sell, mortgage, assign or otherwise transfer his share or interest in the

– To convert this partnership Firm in LLP or Pvt. Ltd. or Ltd. Company as

– To acquire, purchase, takeover and /or amalgamate business or

– To go into acquisition, purchase, takeover and/or amalgamate of other

26. That unless provided hereinbefore, the provisions of the Indian

WITNESS NAME SIGNATURE

Name of Partners Signatures/Thumb Imp. Photo

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