PARTNERSHIP DEED

THIS AGREEMENT of Partnership is executed on this 14th Day of February Two Thousand
Nineteen in between:

1. Sri. Pankaj Matanhelia S/O Late Durga Prasad Matanhelia, Age about 50 Years, by
Occupation Business, by religion Hindu, R/O Gorakhpur (U.P)- 273001 here in after
called the First Party, and

2. Smt. Alka Matanhelia W/O Shri Pankaj Matanhelia, Age about 46 years, by
Occupation Business, by religion Hindu, R/O Gorakhpur (U.P)- 273001 here in after
called the Second Party, and

3. Smt. Radha Matanhelia D/O Shri Pankaj Matanhelia, Age about 22 years, by
Occupation Student, by religion Hindu, R/O Gorakhpur (U.P)- 273001 here in after
called the Third Party

And whereas the aforesaid parties are interested to start a partnership firm to carry on a new
business under the name of M/S DP MOTORS having its principal place of business at 13,
Jalkal Building, Golghar, Gorakhpur.

Now this agreement further witness as under and practise here to mutually agree on this
following terms and conditions;
1. That the name of firm shall be M/S DP MOTORS.

2. That the Principal Place of the business shall be at Jalkal Building, Golghar,
Gorakhpur.

However the firm can open its branch anywhere in India or abroad with mutual
consent of the parties here to.

3. That the capital of the firm shall be contributed by the parties here to in the ratio
as decide by them from time to time.

4. That the business of the partnership firm shall be the carry on the business of
manufacturers, importers, exporters, merchants, traders, commission agent, brokers
in all types of Two Wheelers, Three Wheelers, Four Wheelers, its stores, spares,
parts and carry on their workshops.

However the firm can carry any other business also with mutual consent of all the
parties here to.

5. That the proper accounts shall be minimised of the firm’s operation and the
financial year shall be the accounting year of the firm. However the first account
shall be made from 14th February,2019 to 31st March, 2020.
6. That the bank accounts of the firm shall be opened with any Scheduled Bank and
shall be operated by the signatures of the parties about the firm informs to bank.

7. That the parties here to shall be entitled to get/pay interest as the case may be their
capital balances @ 12% P.A or any other rate as may be decided mutually by all
the parties here to. However all or any of them may forgive their right of interest to
any extent with consent of the parties here to in the common interest of the firm.

8. That the net profit or loss after allowing interest and remuneration to partners shall
be shared by the parties here to as under:

Particulars Profit & Loss Shares

Ist Party 51%
IInd Party 25%
IIIrd Party 24%

9. That the parties hereto will not do any work contrary to the interest of the
partnership business.

10. That the First party hereto is working partner and shall get remuneration @20,000/-
P.M.

However he may forgive his salary to any extent with mutual consent of the parties
hereto in the common interest of the firm.
11. That death of any of the parties hereto shall not dissolve the firm. However the
legal heir being either spouse or the eldest spouse or the eldest son shall be taken as
partner in place of the deceased party.

12. That if any of the parties hereto is not desirous to continue as partner of the firm he
can sell or dispose of or alienate or otherwise deal his share in the firm to any of
the parties hereto only and shall not be entitled to deal with any outside party other
than the parties hereto in these regards in any manner what so ever.

13. That any matter or point not embodied in this deed shall be governed by the
provisions of Indian Partnership Act, 1932.

14. That the civil suits amongst the parties hereto are expressly barred. All disputes and
misunderstandings arising between the parties hereto in respect of any matter,
whatsoever, concerned with the firm shall be resolved by arbitration under the
provisions of India Arbitration and Conciliation Act, 1996.
In witness whereof all the aforesaid parties hereto have put their signatures on this DEED of
Partnership on this 14th day of February, Two Thousand Nineteen only at Gorakhpur.

WITNESSES SIGNATURE OF PARTIES

1. (FIRST PARTY)

2. (SECOND PARTY)

(THIRD PARTY)
 BUSINESS LAW

CIA -2

PARTNERSHIP DEED

SUBMITTED TO

Prof. Radhakrishnan

SUBMITTED BY

Radha Matanhelia – 1828050

MBA ‘M’

Institute of Management

CHRIST (DEEMED TO BE UNIVERSITY), Bengaluru