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                                  DEED OF PARTNERSHIP-CUM-RETIREMENT
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                       Tlris Deed of Partrership made at Nanded, this the 1st day of Apil,2017
             I   Bv ancl Between i'*

                 l.    :lhri lagannath s/o. Babulao Pharande agecl about 73 years residing at
                       H.No.51, Shanteya Niwas, Ashok Nagar, Nanded (hereinafter called the
                       1st parbrer) of the first part.

                 2.    Shri Kaustubh s/o. Jagannath Pharande aged about 38 years residing at
                       Flat No.14/110, Sanmati Co-op. HSG Society, Agarkarnagar, Near
                       Alaukar Cinerna, Pune 411 001.(hereinafter callecl ihe 2"a partner) of the
                       second part.
                                                      and
                 3.    Sow. Ketki w / o. Kaustubh Pharande aged about 36 years residing at Flat
                       No.14/110, Sanmati          HSG Society, Agarkarnagar, Near Alankar
                       ( incnrtr, Pture 411            called the Tlpartner) of the.$frf,rd part.
                                            (-7                                       Contd...2.
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       I                                                (2)
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                 WHEREAS the parties hereto of 1't , 2nd and 3rd part together with Shri
           Venkatesh s/o. Jagannath Pharande were carrying on thg business of Property
           Development, at Shop No.1-7-466, Ashoknagar Shopping Compl9x, Bhaqyanagar
           Road, Ashok Nagar, Nanded 431 605 in the name' and style of IOg Pharunde
           Deuelopers since 23rd, November, 2077 under a Partnership Deed dated
           23-77-2077.
                 AND WHEREAS Shri Venkatesh s/o. Jagannath Pharande has decided to
           voluntarily retire from the said partnership on 31't March, 20\7.

       *           ,-\ND \VHEREAS the Parties hereto of 1't to 3'd part are desirous of
                                                                                       herein is
           rerlucirrg to r,r,riting the terms and condi tions on which the partnership
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           to be carried on with           from today i.e. 07-04-2017.
                                         ')                                          Contd...3..
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    {6ffiq MAHARASHTRA                                     o 2016 (D
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                                                               (3)
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                                          NOW THIS INDENTURE WITNESSETH

                                                                                  the name and style of
                    1        The partnership business shall be carried on under
                             N4/s. pharande Deaelopers, or in such other
                                                                          name or names as the parties
                             heretc'r may agree upol'I from time to time'
           I                 The business of the firm shall be that of Developing
                                                                                   Land by Constr":Fg
                    2.
           g                 Buildings,Flats,SnoprandSale/LeaseoutonRentetc''andshallbe
                                                                 10C, Mouje Wadi (Bk)' Dist'
                                                                                 Nanded'
                                                                6, Ashoknagar ShoPPing ComPlex'
           fl                                                   Nanded 431 605 or at such other place
                                                                r nature as the parties hereto may from
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                             time to time agree uPon'
                             The partnershjP shall be a PartnershiP AT
                                                                         WILL'
                        3.
                                                                                              Contd...4.
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                                                     (4)
       -l        Ihe Capital rdquired for tl-re partnership business shall be contributed or
  I             arranged by all the parties, with mutual consent as and when required.
                For which simple Interest shall be paid @ 12o/o per annllm, or at Such other
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                rate as may be mutually agreed upon or prescribed u/s.40(b) of the
                Income tax Act, by partnership on the amount st4nding to the credit of
                Capital, Current, Loan account of the partners. The partrers shall be at
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                Iiberty to increase or reduce the above rate of Interest payable receivable
                on Capital account and the charging of Interest shall be in absolute
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                discletion of the parbrers.
                        If there is any debit balance in the Capital, Current, Loan account of
   !             the parh-rers, interest at the same rate shall be payable by them.

   I                    It is also mutually agreed that the withdrawals by partners against
                 le muncration payable to them and against the interest on their respective
                 Capital, Current, Loan account balances shall be ignored while calculating
                 daily products for the purposes of calculating interest on Capital, Current
                 Loan                    of partners.
                                (2                                                    Contd...5..
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                                                                 (5)
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                               TheFundsrequiredforthebusinessofpartrershipmaybeof
                                                                                   the requirements
                         borrowed from Banky'rinancial Institutions as per
                         the business, with mutual consent of all the partrers'
                                TlreDebitbalanceofparhrersA/c.shallbedeductedfromthe
           I                                                         2nd & 3"i part for calculating the
                         c'apital Account of partners hereto of 1't,
                         irrterest on CaPital.
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                                                                                 that, all the partrers
                     5   The parties hereto of 1rt, 2nd, & 3rd part have agreed
                                                                                  day to day affairs of
                         (hereinafter referred as working partners) shall ittend
                         the parftrershiP business'
           $                     IncaseofLossnosalaryorremunerationshallbepayableto
                         rvorking parhrers.
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                                                 (6)

                    The total Remuneration payable to the working partrers shall be
              vvorked out as under :
              A. In case of Book Profit up to          , Actual Book Profit.
                  Rs.150,000 I - for the Year.

              B. On the amount of Book                    Rs.150,000 /- or 90% of the
                 Profit exceeding of                      Book Profit whichever is
                  Rs.150,000 /-but does not               higher'
                                          Year.
                 exceed Rs.300,000/- for to                          '
              C. On the amount of Book                         Rs.270,000/- plus 60% of
                Profit exceeding of                            the excess of Rs.300,000/-
                Rs.300,000 /- for the year                     of the Book Profit.
                     -ilre worcls Book Profit shall have the same meaning as assigned to
              ri uncler sectiotr a0(b) expl.(3) or any statutory modification reenactment
              their of for   time being irrforce of I.T.Act, 7967.
                             G'                                                 Contd...7


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             E                   The (let Remuneration payabre to the wbrking
                          rneeting of Interest on Capital to the
                                                                                      partrers, after
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                                                                 partners, which shall be credited to
                          their accounts orr 31st March every yeir in
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                                                                      folowing proportion :
                          L Jagannath Baburao pharande            (1't partrer)         s0%
                         2. Kaustubh Jagannath pharande           (2,,d partrer)        30%
                         3. Sow. Ketki Kaustubh pharande          (3.d Partrer)
         il              'rhe Net                                                       20%
                  6                 Profit & Losses of the partnership business
                         l.terest on the capitar to trre paftners &             after meeting the
         $                                                          Rlmuneration to the parhrers,
                         sh.'rll be
                                 clividecl amongst the pirtners as under:
     t                   l. Jagannath Baburao pharar.rde          (1't.P_artrer) 40 paisa in a Rupee.
                         2. Kaustubh Jagannath pharande           (]"dPSrtner) 40 paisa in a Rupee.
     I                   3. Sow. Ketki Kaustubl-r pharande        (3.a Partrer) 20 paisa in a Rupee.
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                                                                                          Contd...8.
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                                                         (8)
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              7.         Proper books of accounts of partnership business shall be kept. The
          E              account sh'all be maintained according to Financial year. Every year on
                         31st March, an annual account shall be taken and ihe Net Profit or Loss
          t              shall be adiusted to the partners accounts in proportion to their respective
                         shares.

              8.         Bank account shall be in the name of the firm, with any Bank or Banks
                         which shall be operated 6y all the parbrers either Individually or Jointly.
              9.         This instrument of partnership may be amended only with mutual written
                         consent of all the partners.
              l0         I'he parties hereto of atl part are authorized to sign the tenders and any
                         other documents, Affidavit, for and on behalf of firm of all Government
                         Offices, Semi Government Offices, Municipal Corporation and others
                         parties and also authorized to receive the payments on behalf of the
                         partnership firm and also to attend Court proceedings if any. But they are
                         not authorized to barrow monev for the firm without the written consent
                         ,,f all the

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    T6RTE MAHARASHTRA                               o 2016 0
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      I                            ,                 (9)
      I       11.    All flre tangible and intangible assets of the firm including the Goodwill,
                     stock in trade, benefits of Business licenses and permits, Benefits of
                     contract entered etc. will belong to the partrers in Profit sharing
                                                                                         ratio and
                     the properl), of the firm shalr be used by the parties exclusivlly
                                                                                           for the
                     business of the firm.
              12.    subject to the provisions hereinabove contained, it is hereby mutually
                     agreed and decided that the provisions of the Indian Partrership Act,I9i2
                     or any other statutory modifications thereof for the time being inforce,
                     shall govern the partrership so far as may be appropriate.
              13      \nv conbrc'rversv or claim relating to this partnership agreement or any
                     breach in respect thereof shall be subject to Arbitration under the
                                                                                         Indian
                     Arbirration Act, then inforce, and the decision given there under shall be
                     binding on all the partners.
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                                       e                                             Contd...10.


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                       In Witness Whereo
                                                           to have set their respective hands
                 day and the year first here                                                    the


                               Witnesses
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