- II6RTq MAHARASHTRA o020rynE 2018 AG 872077 - 1 A116 Ug DEED OF PARTNERSHIP This deed of partnership is executed on the 10th of August 20IB by and between l' MR' DIPAK BHANUDAS PATIL, Age about 40 years, having pAN: ALFpp5ll5R i resident of Ganesh colony, Chopda, Dist. Jalgaon, Called as the party"of the First part. i 2. MRS. RULALI DI?AK ?ATIL, Age about sl years, having pAN: ANTpp6599D resident of Ganesh colony, chopda Dist. Jalgaon , called as the part] of the second part. i S.AN.CU,I,NON,NKANT IIARI PATIL,-AgE AbOUt 62 YEAiS,hAViNg PAN: AHAPP6I69J . resident of Atpo. chahardi, Tal.chopda, Disl.Jalgaon, calied as the p"rty;iiil; part. Third Conl'.* z- / !t 6 ! =s 1. FIRM'S NAME : That the partnership business shall be carried in the name and style of M/S D.B.P. DEVELOPERS at CHOPDA, (MS) and/or in such other/s Name as the parties may mutually decided. 2. PRINCIPLE PLACE : That the partnership business shall be carried at CTS No.2504, Shop No.2, Giriraj Chambers, Gujar uii, CHOPDA, Dist. Jalgaon in state of Maharashtra and/or at any other place/s as may be mutually agreed upon by the parties hereto. 3. COMMENCEMENT AND DURATION : That the partnership business shall be deemed to have commenced with effect from 10th of August, 2018 andthat the partnership would be a partnership 'AT WILL'. 4. BUSIITTESS: The partnership business shall be that of Dealing in real Estates, purchases, sales & Deveiopment of Agricultural & Nonagricultural Lands, construction thereof and other ancillary activities relating to above mentioned business and other activities as the parties may from time to time unanimously agree upon. 5. ACCOT]NTING PERIOD : proper books of accounts shall be maintained for manufacturing & trading and the same shait be closed on the 31't tlay o!March of every calendar year. 6. BANK ACCOTJNTS : That the firm shall maintain one or more than one banking accounts as may be decided by the partners for the time being of the firm, and such account/s shall be operated including the power to overdraw any such account to apply and execute the papers and documenr for loans and advance from banks and any other financial institutions by any one party singty. The power for Purchase & Sales of Lands, Plots, Flats & other Goods shall vest in the Party of the Second Part i.e. Jitendra S. Qhangale. 7. LOANS. ADVANCES. ETC. : That the firm may borrow loan from any financial inStitutions, relatives, friends for partnership on such terms and conditions as may be decided mutually. Crr nf '- '3 - -- B, ' 8. PARTNERS REMUNERATION : to working partner, shall devote their time and attention i,,.on'ia.'utionthereofshatlbeentitledtodrawyearly tax Law from time to time: percentage said partners shall be calculated as a The yearly remuneration payable to th., manner: ifrl income for each aciounting year in the following "f Rs. 1500001- or atthe rate of On the first Rs.300000 of Book Profit for the Year or in case of Loss 907o of the Book Profit, whichever is more. oh at the tate 60 On the balance of book profit i'e' exceeding Rs. 300000 for the Year shatl be distibuted as given below: The yearly remuneration payable as above (First Part) 37.5'/0 I, MR. DIPAK BHANUDAS PATIL (Second Part)375% 2. MRS. RUPALI DIPAK PATIL (Third Part) 25 oh 3. MR. CHANDRAKANT HARI PATIL EXPLANATION: shall be credited to their accounts at the close B. The remuneration payable to the partners of the partnership are made up and the of the accounting p#oa when thi frnar accounts determined' amount of remuneration is due to them is C. The party of first & Second parts being the working partners jointly shall be empowered and all of to execute the Sale deeds of tfre immovable ptofttti.t belonging to the firm il partners' their acts will be binding on the firm & its 9, WITHPBAWALS: any amount during the year from That the above partners shall be entitled to withdraw share of profitsor out of their current the partrrership towards their yearly remuneration, may be decided by them by mutual loan or capital accounts from time to time, as consent. ROPo+it Coo rah'* ' + r Zf +e 10. CAPITAL & INTEREST 9N CAPITAI' Rs. 50,000/- for the partnership That all the partners shall contribute to the capital of firm in their profit & loss sharing ratio' interest up to 12 Yo p-a. on credit balance in an accounts or at such rate as maY be f the Income Tax Act, 196l.or any other the relevant period. Interest shall be charged and in the same manner as provided above for payment of Interest. purpose of the It is further decided that, That the additional fund required for the manner as may be portnrrrt ip shall be contributed or arranged by the partners in such mutually agreed uPon' 11. MODIFICATIONS : , alter, rectiff the above terms to the Partners bY executing a hall have effect unless otherwise g period in which such supplementary deed is deed of PartnershiP. 12. PROFIT SHARING RATIO : That the net profit or loss of the partne payable to the partners in accordance with deed as may be executed by the partners partners in following ratio: (First Part) 37.soh I. MR. DIPAK BIUNUDAS PATIL (Second Part) 375% 2, MRS. RUPALI DIPAK PATIL (Third Part) 25 o/o 3. MR, CHANDRAKANT HAN PATIL 13. ADMITTANCE / RETIREMENT OF PARTNER That if the partners deem proper & in their interest, they may admit persons as partners on the terms and conditions as may be mutua ihemselves. Further any of the partners can retire from the firm by fulhllment of his liabilities in firm. firm of his intention ofietirement, subject to ArDr#t*'S\ €,. 14. DEATH OF PARTNER:- If any partner dies during the continuance o out nominating or appointing aty person to be ing the shall legal months from the death of the deceased partn ented by the legal representative' For calculating the purchase price, an account ance sheet be taken up to the day ofthe death frori ttre iast previous annual account and the share in the capital and assets of the partnership including goodwill, offtce furniture, books and office papers shall be ascertainei and the ruid tr. along with the sum which upon talking of such account and balance sheet shall appear to be the purchase price. The value of the goodwill of the partnership business it utt U. taken to be as the parties may from time to time unanimously agree uPon. 15. uBcBa,sBo pa.RtNBn'S RtrpnrsnNt,q'tIvEs'- On the death of the partner, the surviving partners will execute in favour of the legal representatives of the deceased partner, indemnity against the debts, liabilities, and obligations and the legal represintatives shall also execute proper deeds and other instruments for vesting ihe share of the deceased partner in the partner or partners entitled there to under the provisions of the deed' I6. WINDING UP OF PARTNERSHIP : If the partnership is determined by a notice by any partner or by any means not here in before expressly provided for, then the partnership shall be wound up and assets distributed as provided by the Partnership Act,1932. 17. SETTLMENT OF DISPUTES :- All disputes and differences which shall arise between the partners or between partners and legal representatives of one or more partners or between their respective legal representatives and whether during or after the determination of the partnership relating to the rights and liabilities or interpretation of this deed or to any act or omission of either party or matter or things done or to be done in pursuance here of , such disputes and differences shall be referred to arbitrator and his decision and award shall be final and binding upon the parties. ,e BoP'r+r\ c,o nl" 6 I 6" IN THE WITNESS WHERE OF the parties here to have here to set & subscribed, their respective hands to this dccd on the l0th of August,20l8. Siened bv thc partv of the DIPAK BHANUDAS PATIL - Party of the First part .. \ i\f ie)\ ' nUiTu otp,qK PATIL- parry of the Second part CHANDRAKANT HARI PATIL - Party of the Third parl l. 5helru-9hne Jsh.uar. P.rt;1 6rntdi apatlneen), fJuyS< r.Jo3ay ehapd.. .0,\ 2' o,pd Vqrron P,h'f f 7, 's'yoh fl?Frf nrnh r,n ,r Hi{.J -lrolJ,t Date: 10/08/2018 Placc: Jalgnon