MAHAI nq; N ,$.t$ JUL ?o!5 * {t;;-;{S Ht , BiTr frfi$ / $q *#cr,qrci, [,,u,rro ar"rstom. quf . t+-** DEND OF PARTflERSUIP E H fl t 1l This Pnrffrership is detd of executed at Wardhn on this the 29m day Sep., ?015, between fl L Sau. Vandnna Rajkumar Deshmukh, aged about 47 years, residerrt' Swagat Colony, Kerla Ro*d, Wardha of the First psrt (hereinafter catled the Parner No. 1 or First Pnrtner) E f, 2. shri surendrakunrar Sukhadcokultar singh aged about 50 ye&fs, H H s E hl bi FJ H I l I i 3. Slrri l"lenrant Vi.shwasrilo Deshmuklr, aged about 45 yea *rry1. Circus Cround, Ranrnagar, Wardha "( of the T'hird parl (.hereinafler called the Pa.rtner No.3 or '.1 4. Shri M.ilind Prahladrao Dahake, aged about 49 Ramnagar, Wardha ;il of the Fourth part (hereinafter called tlrc Partner No.4 Partner) 5, Shri Sanjay Shyamji Shrama, aged about 45 years, resident, Sai Mindir Road, Ramnagar, Wardha of thc Five part (hereinafter called the Pzutner No.s or Five partnor) I 6. shri Rajesh shrichand vidhwani, aged about 44 years, resident, sai i ix- r Mindir Mindjr Road, Ramnauar, Wardha Road- Raurnagar, of the Six part (hereinafter called the Partner No.6 or Six " i .. ..r 1 .cfr'f"rtil WHEREAS all the parties to these presents hereby here tn.q I egree to start the business :m .;:## Containted In these presents in partnership on the terms and of the partrrership Hereinafter appearing. AND WHERES, it is expedient to had a written instrument of the partnership containing There in the detail term and conditions of the agreemsnt. i -'r NOW THIS DEED WITNESSES that the said parties for themselves and their respective survivors, heirc, executors and aelministrators have become and shal remain partners so long as they are in the business of this firm and or such other business which may be mutually decided upon at any time during the continuance of the partnersffi by this firm on the terms and oonditions set oul hereinafter. -t ,' l.? !e-Str"lul'(h ' a7 7 9;*&'L*m\ 3 a;W 1. NAME & STYLE: 1.1 The business of the Firm shall be carried out in the name and style of 1\{/S n[AA VAISI{NAYI CITY DE\IELOPER and / or such other name as rnay he mutually decided by the partners from time to time (here in after the firm Nzl/s Maa Vaishnavi City Developer is called the firm). 2. PLACE OF BUSINESS: Principal Oflice of the firm shall be presently situated at clo Rajkumar Deshmukh, Swagat Colony, Karla Road, Wardha and in future at such other place or places as the partners may kom time to time affee upon. The branch of work offices may opened at suoh other places as may be mutually decided upon. 3. NATURE OF BUSINESS: The nature of business of the firm shall be.- a) To carry on all or any of the business of building and civil contractors. b) To supply the building material and lor any other marketable commodities- c) To work as a transport contractors and service contractors d) To carry on business of [and developers and sales purchase of lands, plots etc. And or the firm may carry on business or businesses of any other nature as partners may decided mutually from time to time. 4. DURATTON OF PARTNI,RS}IIP: The partnership since consitued for no fixed period it shall be the partnership "At Will". The partner's desirous of'retiring from the partnershi;r during the subsistenoe of partnershrp, shall do so by serving a ot his noilce of notice nls / ncr her intention tntet)tron [o to retlre retire a[ at teirst one calenclarnronth least orle catcndary'rryntn before thc tlatc fiom whiclr he /shc shall hc clccrncd tf /avc j \ii,fl,&ffi1t,\(kl ,e Nifl been retired fiorn th 4 ?.&"tr\ -t-) 7 \"L t's /l tUnr-' In the event of the death of the partner, the partnership finn shall not be dissolved but the rernaining partner may at his/her discretion continue or wind up the business affairs of the firm. In case of death of any parhner,s his legal heir shall be admitted to the partnership on the terms and conditions as may be agreed upon. 5. CAPITAL & FINANCE: *tf*\ I\ t< 5.1 AUTHORISED CAPITAL \-,,)c )a )* 4y t.i The authorized capital of the firm shall initially be Rs. 100000/- * (Rs. One Lao Ruppes onty) to be Contributed By each partners inclividually l,Z3 - 60,000/-, 4,56 - 40,000/- authorized capital, shall, Initially b'e credited in the Respective FLXED CAPITAL ACCOUNTS and shall notbe withdrawn by the partners except in case of dissolution or grave fixed capitals intersay. Additional capital, if has to be raised to meet temporary needs, shall be credited in respective separate CURRENT ACCot ms. In this current capital account only, the yearly profits and losses as well as interest on capital, if any, shall be credited or debited as the case may be drawing can be Made from these accounts by partners under mutural agreements. However, the partners can T'ransfure any sums from their currsnt accounts to fixecl capital accounts after increasing the Authorized capital. s.2 The fixed capital as well as current capital accounts of the partners shall carry interest @ 12% p.a. or at the maximu.m rate allowable as cleduction uncier the lncome Tax Act 1961, whichever is lower. The interest shall Lre caloulated on rlay to day prodr-rct basis to be crediteclon tho 3l't clay of March every year in respective current accounts. n .lAV,R,,Dr{1r,1vlr\ ,0 7* \NN - \(/ -D \*eL- '2--&mt 6) 5.3 BANKING OPERATIONS 5.3.1 The bankers of the firm shall be any national bank, at Wardha or such other bankers as the firm may deem fit from time to time- 5.3.2 The Bank accounts shall be operated by any Two Partner's with their joint signatures Partner in the following maruxer any of Partner's arrange of L,2 & 3. Any of Partner's alTange 4,5 & 6, In case of death of any partner, bank Shall not be freezed but the entitled to operate the bank accounts. 5.4 ARRANGEMENT OF FINANCE t.; The firrn shall raise Iinance frotn any financial institution, Bank or private party as it deems fit for setting up and the advancement o,[ the business of the firm. The firm may also temporarily borrow from its partners or from the friends and well withers as allowed from time to time under the various enactments, any amount at mutually decided rate of interest to be near to the prevailing market rate . 5, ACCOUNTS 5.1 Proper books ofl account under mercantile accounting {i $ystem shall be rnaintainecl antl kept at the principle place of the business of the f,rrm. All the partners shall be at the libemy at all reasonable timss to hnve thc ficces$ books and other records oflthe ttrm. 5.2 The financinl year shall be the accounting year of the firm and first sulch accounting period shall encl on 3l't March 2016, and the books shalI closecl first time on that clate ancl then ) V &r-De>hl,nt{Ah' /t) 24 D-Ery^l 3 fu-/.= onwards on every 31s March and profits / Losses shall be deterrnined as of the period year ending every 31*t March. 5.3 The accounts shall be approved by the parhrers in monthly meeting. After such approval, These shall not bc competent to raise any objeotions excepting in case of tiaud or manifest elTor. 6. REMUNERATION: (' All the partners shall.be entitled to receive equally the monthly remuneration at the Tentative rate to be decided mutually at the beginning ofthe year but subject to the Availability of profits and subject further to the muimum extent permitred as deduction To ttre firm under the Income Tax Act, 1961 from time to time. No remuneration shall be varied wcry year having rcgard to the olosure 'of the financial accounts of every year. All the partners being the working partners, such remuneration shall accrue to all of them equal proportions and shall bwome tlrp on the last day of the i- accounting year and will be credited to their respective currc*t accounts on that date. Mode of payment of Remuneration i) tf Book Profit is negative: Rs, 150000/- ii) For Profit of first Rs. 300000/- : Rs. 150000/-or 90% Of Book Profit of Book l'roflt which ever is .b J" , B ee\ r,rv Ftf . p-ifht:- - 'o- e. *ry \r*J- -\:--*-) Y-&skr",S // r) more iii) On the balance of the book profit: 600/o of Book Profits 7. PROFIT & LOSS SI{ARING RATIO: The Profit or Loss arising out of the business of the firm shall be shared equally i.e. one forth each. i.e. as mentioned below shall share profit & Losses: PARTNERS SHARE IN PROFITS t.r Partner No. one 20Yo 2Ao/o Partner No. Two 60% 20% Parhrer No. Three 2A% Partner No. Four 13.330)6 13.33 Partner No. Five 13.33o/o 4A% 13.33 t, Parfner No. Six 13.34a/o 13.34 8. DRAW"INGS: AIt the partners shall be free to clraw amounts lrom the current accounts as per n Mutual agreement. [,'urther, the partners shall be allowed to draw reasonable arrroulrts r ^\ I '"*1i,.i'lt,^f'' h m q r{h r,)\k 9*- * v f->'.\-*r P-Ber* 6),fuw In anticipation of the remunerations before it is being credited. 9. RETIREMENTS AND DEATH: Any partner, at his own will only, shall be cometent to retire from the business of l*i \. the firm after giving three months notice in writing on b Jr' i; personal grounds. Unless i2 {y the minimum partners remaining after his retirement it not below twu, rctiring parUler shall not have rigtrt to ask for the dissolution of the firm. * ,.- In case of the death of any of the parhrers, his nominated heir or any one of the Iegal heirs decided by them mutually in case the nominated heir is not alive (despite being several legal heirs) shall have the option to be a partner in lieu of the share ofthe deceased. 10. 1 DURATION OF TTM PARTNERSHIP This partnership shall be at will subject to the foregoing clause and shall continue Till the minimum two prtners rernain in the business of the firm. IO.2 MANAGEMENT OF TI-IE FIRM : All the partner's are working partner and shall have equal rights (as per shere) for all pLrrpose except showing of profit / loss. For convent of all purpr:se it is mutually clecided that any one partner of partner arrange 0f [,2, & 3 and one partner of arrangeof 4,5 & 6, shall jointly signature all docLrmcnt on behalf of' the firrn. JlV []' fle",v\']o\.\(.4h ?"r )7 11. DETERMINATION, DISSOLIJTION AND WINDING UP: In the event of loss of mutual faith betwccn parhrers arl the partner's decide to discontinue the firm, then only the firm shall stand dissolved and not otherwise. In such events, the assets shalr be distributed between the partners as provided by the Indian Partnership Act, 1932 but each partner shall be entitled to bid at the sale of assets by public auction in case the assets can not be conveniently distributed. tJ 12. REGULATIONS: All the parhrers, though have equal rights and liabilities, for the convenience of Management, shall be bound for the inernal working rogulations or the disciplinary Code of operations which are being separately adopted by the partners simultaneous to the signing of this deed. The code shall be varied, altered with the consent of the nrajority of partners and with due recommend signatures. 13. RESTRICTIVE CO VENANTS, No partner shall during the continuance of this partnership without the consent of 2E.,o*x- rryq' ' 15. MEANING AND INTERPRETATION : l4.l For the points not mentioned hereinabove, the provisions of the Indian Partnership Act,1932 shall be applicable. 14.2 There shall be no good will attached to the firm. 14.3 Any change in the constitution of the firm of any account shall not affect in any manner the confiacts, agreements, assignmcnsts or any other protnisus entered in to or made for and on behalf of the firm with the government body corporate, statutory organizations, banks etc. or with any third parties. SICINATURE AND T}IE NAME FIRST PARTNER (Sau. Vandana Rajkumar Deshmukh) V'A$.>hYnqlrh' SECOND IiARTNER (Shri Surendra Sukhad.ur.uffit)f ,,. * Akk J, THTRD PARTNER. (Shri Flemant Vishwasrao) FOURTH PARTNER (Strri Milind P.Dahake ) FIFTH PARTNER. (Shri Sanjay S. Shrama) STX'TII PAR"INER. (Shri ttajesh S, Vidhwani ) ./.^ ,1 TTfiS Ir =-L*mlqlt{ rlr b4&) / Nor,q n v IYA R D H A ( l\litlrurarl" I {lNDlA t