PARTNERSHIP DEED

This deed of partnership is executed on this _______th day _________of 2017 between
following parties

1. Shri Himanshu Sharma S/o Shri Vinay Sharma R/o Chandra Nagar, Opp. Ram Chandra
Sharma School, Moradabad ........................ hereinafter called Party No-1
2. Shri Aman Shamra S/o Shri Vinay Sharma R/o Chandra Nagar, Opp. Ram Chandra
Sharma School, Moradabad ..............hereinafter called Party No-2
3. Shri Pankay Arora S/o Rakesh Arora R/o Budhi Vihar, Delhi Road, Moradabad
..............hereinafter called Party No-3
&
4. Shri Asahok Kataria S/o Shri Sohan Lal Kataria, R/o New Civil Lines,
Moradabad ..............hereinafter called Party No-4

Whereas above said parties wish to carry you business in partnership w.e.f. ......................... and
now in order to have a deed as on evidence, they have agreed to write terms and conditions,
which are as follows :-

1. That name of partnership business in Kanika Agencies.

2. That place of business is situated at .......................................GMD Road, Moradabad.
That partners may agree to open branch or branches, they may agree to change business
place also.
3. That nature of partnership business is trading of Medicine/Drugs. That nature of business
may be change and .......................................................................... firm may deed in any
other commodity or commodities also.
4. That capital contributed by parties have been duly recorded in goods of Account of the
Firm.
That parties may increase or decrease their capital contribution.
5. That parties are agreed to charge interest @12% p..a. on their capital contribution from
the firm.
6. That parties will work activity for the business offers of the firm and for the that they are
agreed to charge remunerated salary in the following manner-

A-On the first Rs. 300,000/- of the book profit Rs. 1,50,000/- at the rate 90% of book profit
or in case of loss whichever is more
B-On the balance of book profit @60% of book profit
That remuneration/salary as discussed above shall be shared equally in between the parties.
7. That after deducting all the expenses, including salary/remuneration to parties and
interest to parties net profit or loss as the case may be shall be shared equally.
8. That accounting period of the firm is based on 1 st April to 31 March, and at the end of
every year profit and loss A/c and balance sheet will be drawn.
9. That duration of partnership is At will.
10. That bank account or accounts, as the case may be will be with any one or more than one
bank, and any of the party is entitle to operate it.
11. That in case of death of any party, the firm will not be dissolve and remaining parties,
with the help of legal heir of decreased party will run the business,
12. That in case of dispute amongst the parties on arbitrator shall be appointed and his
decision shall be final and binding.
13. That in any other case not provided hereto, provisions of Indian Partnership Act shall
apply.