.f #Wtr HTRA o 2018 O o clt4uri vLlo o< ll4 btt En.3l5- E Er;& '* ^ -$d.*... ..".p.H. ...-..ffi_.... (, rsnSe.3frarar.*ilur{D riiiiT,fl ib.etoro6g $frr-- Deed of Partncrehip IWs. V.K.BUILDERS AI{D DEVELOPERS This deed of partnership is executed at Aurangabad on Ml72/Wl8 by and between:- 1 Mr.Vitthal Raiaram Kale Age 51 years ,Occu: Business, H.No.03, Gut No. 144, Satkarma Nagar, Nerr Ayyappa ldardir, Satara Parisar, Aurangabad43lm0. (Hereinafter called and referred ag party of the First PART) 2 Mr. Eknath Raiaram Kale Age- 46 years, Occu: Business, Plot No. L, Gut No. 143, Satkarma Nagar, Near Ayyappa Mandir, Satara Parisar, Aurangbagd431010. (Hereinafter called and referred as party of the Second PART) koq6J Which Expression Shall Mean And Include Their Legal Heirs, Executors, Administrators And Assignees NOW THIS DEED OF PARTNERSHIP witness that parties hereto above have mutually agreed the following terms and conditions:- 1. That, the business of the Partrership shall be carried on under the name and style of "I\IVs.V.K.BUILDERS AND DEVELOPERS. " 2. That, the place of the business shall be at shop No, 8, Gut No. '1.42, "sai sagar Apartment", Near Ayyappa Mandir, satara Parisar, Aurangbad-43l0l0. Firm shall be free to carry on its business & may open it's Branch Offices at any other place or places as the partners may decide mutually from time to time. a J. That, the main business of the partnership Firm is Builders & Developers .the firm may also carry any other business or businesses in this or any other line as may partners mutually decide from time to time. 4. That, the partnership firm shall be deemed to have commenced the business with effect tuom 06/1U2018 5. That, the duration of the firm shall be "PAIITNERSHIP AT WILL". 6. That. at any time before the expiration of the period fixed in above para any partrer desires to retire from the business, he may do so by grving at least six months notice expiring with the date of annual accounting. 7. ThaL the initial capital of the firm shall be Rs. 50,000/- (Rs. Fifty Thousand only) which should be brought in by the partnt)rs as per the requirements of the business. If any additional capital is requirerl the same should be brought in br' the partners ()r from any outside parties irrcluding Bank, Banks or ;rny other financial instilution with or without interest as may be mutually agreed by and between the p,uties from time to time, 8. That, it is agreed by and between parties hereto that simple interest at the rate of 72% p. a. as l)rescribed u/s a0@) of the Income Tax Act shall be pavable bv partrership ft m on share capital accounts of the partrers. 9. That, the botlr pafty of firm actively devote their time and attention to the business of tht' parhrership. &{?-b.> x It is hereby agreed by the parties hereto that in consideration of the services rendered by the partners they are entitled to draw yearly remuneration as under: D The yearly remuneration payable to each of the parbrers shall be calculated on Percentage of book profits for each accounting year in the following manner:- In respect of On the first Rs. 3,00,000/ - of the Book Rs.1,50,000 or At the rate of 90 y. Profit or in case of losses of Book Profit On the Balance of book profit At the rate of 60% of Book profit The Proportionate remuneration will be distributed among the partrers in the following ratio, Ratio of Partrers L Mr. Vitthal Raiaram KaIe 2 Mr. Eknath Raiaram KaIe II) For the l)urPose of the above calculation the book profit shall be calcu]ated on the basis of book profit as shown by the books and computed as provided in Section 28 to Section 44 D (Chapter IV-D) of the Income Tax Act without deducting the remuneration paid or payable to the partners for the relevant accounting year. 10. That, the partners shall be cntifled to rnoclify the above terms relating to remuneration, interest ertc. payable to parhrr:rs by executing a supplementan, deed and any such deed when executed shall be effective from the date of execution and same shaL1 form part of this deed of partnership. 11. That, the books of acco,unts shall be maintained for partrership business and accounts shall l'e closed :rnd adiusted at the encl of MARCH every Vear. 12. That, the books of accounts shall be open for inspection or scrutiny by any partrer during business hours. Any partrer may take extract of books of accounts if needed. 13. That, the share of parties hereto in the net profit or losses of the firm shall be as follows:- Name of Partners Ratio of Partrers 1 Mr. Vitthal Rajaram Kale 50.00% 7. Mr. Eknath Rajaram Kale s0.00% 14. That, the partrers may open the bank account in fum name and account shall be operated by all partrer parties here to in such manner as may be decided from time to time by mutual consent. 15. That, the firm may admit any new partner or partrers on the terms and conditions which would be decided by mutual consent of all the partrers. 1.6. In case any dispute arises in between thc partners shall be referred to an Arbitrator for adjudication. The decision gtl'en by the Arbitrator shall be final and binding on all. 17. That any addition, alteration or deletion in an1' of the above terms and conditions may be made with mutual consent and in writing. 1.8. That, the death of any partners/retirement of any partners shall not Amount to dissolution of partrership firnr but the surviving partner shall continue the partrership business, admittinl; legal heirs of the partners or :rny other person as the case may be. 79. That, the parties hereto above bound by the tndian Parhrership Act 1932 in all matters. @;ob& '( IN WITNESSETH WHEREOF THE PARTIES HERETO ABOVE HAVE SIGNED THIS DEED OF PARTNERSHIP ON THE DATE ABOVE MENTIONED. PARTNER NAME SIGNATURE OF PARTNER <_t Mr. Vitthal Rajaram KaIe *>r,u [Parg of The First part] 2. Mr. Eknath Rajaram Kale I Party of The Second part] WITNESSE SIGNATURE OF WITNESSE 1. Vishal Vithal Kale Satara Parisar Aurangabad. Amol D Patil Shivshankar Colony, Aurangabad