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7th March 2012
Assignment1 (final)
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DEED
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PARTNERSHIP th
THIS
DEED OF PARNERSHIP made of Mumbai on the 30 d December, 2011, BETWEEN Shri. MANGILAL GENARAM CHOUDHARY About 33 years, Hindu adult, Inhabitant of Mumbai, residing & doing Bu ROOM No.2, SITA CHAWL No,1, TRIVENI NAGAR, KURAR VILLAGE, MALAD EAS 400 097, hereinafter reffered to as “FIRST PARTNER ” (which expression sha be repugnant to the context or contrary to the meaning thereof, be deeme mean and include his respective legal representatives, executors, adm successor – in – interest, till the last survivor and permitted assigns ), the FIRST PART.
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:2: AND
Shri. MOHANLAL VAGARAM SOLANKI , Hindu, aged 33 years, Indian Inhabitant, residing & doing business at RAMJI PHULABHAI CHAWL, NEAR AZ LAUNDRY, DATTAWADI KURAR VILLAGE, MALAD EAST, MUMBAI – 400 097 , he referred to as “ SECOND PARTNER ” ( which expression shall unless it be repugnant to the context or meaning include his heirs, executors, legal representatives, administratives successor interest, till the last survivor and permitted assigns ) of the SECOND PART
AND WHEREAS the parties hereto have proposed and Fervently decided to give a through to such ideas on their part of finding out a propitious start to their future.
AND WHEREAS the parties decided to do business of Manufacturing and trading of Imitation Art Jewellery And accordingly the have started doing business in the Name of and style of SHREE BALA JEWELLERY since 01 /12/ 2011, however Parties have decided to reduc and conditions mutually Settled between them today on execution of the present, which are as under: You're Reading a Preview
NOW THEREFORE THESE PRESENTS WITNESSETH AS FOLLOWS : Unlock full access with a free trial.
1.
NAME OF THE FIRM : Download With Free Trial
2.
The partnership Business shall be carried on it the firm Name & Style of “ SHREE BALAJI ART JEWELLERY ”& in any such name and/or names as all the partners may agree from time to time. DATE OF COMMENCEMENT OF BUSINESS : st
The partnership shall be deemed to be effective from 1 title day Sign up to vote on this Useful Not useful of December, 2011. :3:
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The Registered Office of the Firm shall be ROOM No.2, SITA CHAWL No. 1, TRIVENI NAGAR, KURAR VILLAGE, MALAD EAST, MUMBAI - 400 097 which is owned by The First Partner.
5.
DURATION OF THE FIRM :
The duration of the Partnership shall be until dissolved by the Mutual consent of both the partners hereto. 6.
CAPITAL OF THE FIRM
The Capital of the Partnership has been brought by the partner in equal proportion and both agreed to bring the capital in equal proportion in the said partnership firm as and when order to develop the said business run under this partnership.
7.
FURTHER CAPITAL
Further Capital for the Partnership Business, as and when required, shall be contributed by both the partners in equal shares. :4: ADDITIONAL CAPITAL BY ANY PARTIES:
8.
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The Partners who provides additional Unlock full access with acapital free trial. shall receives interest at the rate of 18 % per annum and the same shall be credited to his personal Download account With and Free shall be paid to him the Trial last date of the accounting year, in every year, before any division of profits is made and such excess contribution to the capital shall be a debt on the partnership business. 9.
SHARE IN PROFIT & LOSS:
That, the Net Profit or Losses of the said partnership business Signout up to goings vote on this title After the payment of all expenses and other including Not useful Useful partners the capital profits and/or losses if any after making interest and capital profits remuneration shall be divided, between the parties in the following proportion:
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Said profit and loss account shall be final and binding upon all the partners. :5:
13.
BANKERS & BANK OPERATION
The Account in the Firm name shall be opened in a Co-operative/ Nationalized Bank or Bank and the same shall be operated Jointly by partners or by such partners/ partners as may be specifically decided mutully between parties by passing special Resolution thereof. 14.
DUTIES OF PARTNERS :
(a) Work whole heartedly to the greatest advantages and for the benefit of the partnership and be just, faithfully and honest to the other partner. Each partner shall be diligently and intelligently in the interest of firm.
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(b) Give and render true,Unlock proper andwith satisfactory account and full access a free trial. Explanation to the other partners and also of all the dealings and transactions in respect ofWith the Free partnership business and Download Trial affairs thereof and. (c)
Deposit forthwith all monies, cheques, Hundies, negotiable instruments etc. received by him on firms accounts in the Bank of the firm. Sign up to vote on this title
15.
Useful PRIVATE DEBTS, COSTS, ACTIONS ETC. ETC.:-
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PERSONAL LIABILITIES:
No partners shall be liable for any personal liabilities of the Partners and the partnership properties and the firm shall Not be liable for personal debts of any partners. 17.
18.
MAINTAINANCE OF FIRM ACCOUNTS: The firm shall regularly maintain in the ordinary course of the business, an account of all its incomings and outgoings and also of its assets and liabilities, in proper books of account which shall be kept at the principal place of the business and each partners shall at all times, have free access to them and shall be at liberty to make such extract threre from as and when he/ she may think fit and proper. IT IS EXPRESSELY AGREED BY THE PARTNERS HEREIN THAT : No partner shall be directly or indirectly engaged or interested In any other trade or business or the business Which may be allied or similar to the business of the partnership except with the written consent of other partner. :7:
19.
20.
ASSETS ETC. You're Reading All the Tangible and intangible assetsa Preview of the firm including the goodwill, stock – in – trade, benefit of acontracts entered etc. Unlock full access with free trial. will belong to the partners in equal shares and the property of the firm shall be usedDownload by the parties exclusive for the With Free Trial business of the firm.
FINACIAL YEAR: The Accounting year of the Partnership Business shall be the st
Finanicial Year, that is to any, commencing from 1 April and st
Ending with the 31 March, every year.Sign up to vote on this title
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That, NOTWITHSTANDING
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anything contained in the Indian :8:
Partnership Act it is herby mutually agreed to by and between the parties that in case of death of any one or more partners, the firm shall not be dissolved but shall continue to be carried on by and between the surviving partners and legal heirs and/or representatives of the deceased partner, can join the firm , as a continuing concern, on the same terms and conditions as incorporated in this deed on such terms and conditions as may be agreed in this Deed or on such terms from time to time. It is hereby further clarified that it shall be deemed as change in constitution and not succession.
23.
ARBITRATION – IN CASE OF DISPUTES: All Disputes and questions whatsoever which shall either during the Partnership of afterwards arise between the partners, their respective representatives, touching these presents or the construction or application thereof or any clause or thing herein contained or any other in any way relating to the partnership business shall be referred to arbitration in accordance with and subject to the provisions of the Arbitration Act, 1940, or any statutory modification and reenactment. You're Reading a Preview
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24.
Unless repugnant to the context or contrary to the meaning Download With Free Trial Thereof, the expression all partners shall be deemed to mean and include their respective legal heirs, legal representatives, executors, administrators, successor – in – intrest, till the last survivor and permitted assigns. :9:
up to vote on this title IN WITNESS WHEREOF, the Partners heretoSign have signed th Useful 2011. Not useful this DEED OF PARTNERSHIP this the 30 day of December,
SIGNED SEALED AND DELIVERED
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:10:
WITNESSES : NAME
SIGNATURE
1. 2.
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3.
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4.
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Assignment1 (final)
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DEED OF PARTNERSHIP ADDRESS OF BUSINESS ROOM No.2, SITA CHAWL No.1 TRIVENI NAGAR, KURAR VILL MALAD EAST, MUMBAI – 400 0
http://learntohack.co.uk/ Posted 7th March 2012 by poonamvishwa
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