WHEREAS the business carried on in the name and under the style of M/S MARIYAM OVERSEAS, Flat No. 3, Greenwood Apartment, 22 Gokhle Marg, Lucknow had been a Partnership Concern wherein SRI ANIL MEHROTRA S/o Sri Kashi Nath Mehrotra, Aged about 40 yrs. R/o 3/445, Viram Khand, Gomti Nagar, Lucknow (U.P.) and MR. DHARAM GARG, S/o Sri Naresh Chandra Garg, Aged about 41 Yrs. R/o Kutchery Road, Rae Bareli (U.P.) had been Partner by a duly executed Deed of Partnership dated 07/09/2006
AND WHEREAS w.e.f. 19th January 2009 partners have mutually agreed to alter para 5 & 8 of above deed due to this reason, a fresh partnership deed is being executed.
AND WHEREAS the partners mentioned above deem it proper and necessary to reduce to writing the terms and conditions of this partnership to avoid misunderstandings amongst the partners, in future, if any.
WHEREFORE, this deed of partnership executed on 19th January 2009 Witnessed as under and the terms and conditions mentioned below shall govern this partnership unless and otherwise modified. .
NOW THIS DEED OF PARTNERSHIP WITNESSETH AS UNDER
That the Name & Style of the partnership business shall be “M/S AN OFFICE & INDUSTRIAL SOLUTIONS” or in any other name as mutually agreed upon among the parties.
That the principal place of business shall be at flat No. 3, Greenwood Apartment, 22 Gokhle Marg, Lucknow (U.P.) or any other place or places as mutually agreed upon between the partners.
That the partnership business shall be that of Sale of Furniture, Security Equipments, Industrial Products, Interior and Civil Work, Sale & Service of EPABX Systems or any other business or venture that may be agreed upon between the partners from time to time.
That the firm may extend and expand its business in such other ways as may appear desirable. the firm can also open and close Branch or Branches at any place in what so ever trade name as mutually agreed upon by the parties.
That the capital shall be contributed by all the partners as and when required by the firm for the smooth running of the business of the partnership.
That the partners shall be allowed simple interest at the rate of 12% on their capital investment with the firm irrespective of the Profit or loss of the firm
That the both Party of this deed will be working partner and have agreed to keep themselves actively engaged in managing the entire affairs of partnership business and shall be responsible for carrying out the day to day functioning of the partnership business.
That all the remuneration payable to the partners shall be as under :
Rs. 15,000.00 P.M.
Rs. 2,000.00 P.M.
That the salary of Mr Anil Mehrotra Shall increase by 10% every year.
That the profits of the partnership business after deducting all the business expenses including Interest and remuneration paid and/or payable to the partners as in accordance with the clause 6 & 8 of this Deed of the partnership or any supplementary deed as may be divided between the partners as under :-
That the profits & loss account and the balance sheet shall be drawn up every year on 31st day of March and the profit and loss after meeting all business expenses including interest and remuneration paid and/or payable to partners shall be apportioned between the partners according to the specified shares mentioned above in clause 9.
That all the necessary and proper books of account shall be kept and maintained by the firm at the place & places of business of the partnership and shall be open to inspection to all the partners at all the reasonable time.
That the partnership business shall be continued till such time as the partners mutually decide and agree. It can be dissolved at any...
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