Business Laws Assignment No.

1 Partnership Deed
23th January 2014

Submitted to: Prof M.C. Gupta

Submitted By:

Anubha Jain( 1211109 !o"hni Ma#umdar (1211 An"hita Shri$a"ta$a (12120% Bipa"ha Sar&ar (12120'

Gauri #ain (121211 S(AMP )*(+

),,) -. PA!(/,!S01P THIS DEED OF PARTNERSHIP is made at Ahmedabad on this 23rd day of January 2 !" bet#een $!% &s' Anshita Shri(asta(a) dau*hter of Shri Asho+ Shri(asta(a) a*ed 2, years) Hindu) Indian Nationa-) resident of .2")!st f-oor) /rysta- A0artment) 1a-a2y So3iety) Sate--ite) Ahmedabad $hereinafter 3a--ed as the FIRST PART4% of the one 0art 5 $2% &s' .i0asha Sar+ar) dau*hter of Shri .asudeb Sar+ar) a*ed 2" Hindu) Indian Nationa-) resident H"63)ON1/ /o-ony ).andra 7ur-a

/om0-e2) .andra East )&umbai $hereinafter 3a--ed as the SE/OND PART4% $3% &s' 1auri Jain) dau*hter of Shri Sudhir Jain) a*ed 23 years ) Hindu) Indian Nationa- ) resident

$hereinafter 3a--ed as the THIRD PART4% of the other 0art 5

$"% &s

Anubha Jain) dau*hter of &r' a*ed 2" years )Hindu) Indian nationaresident F!23) 849 3o-ony) :astra0ur) Ahmedabad $hereinafter 3a--ed as the FO;RTH PART4% and $,% &s' Roshni &a<umdar) dau*hter of &r' Su<oy &a<umdar) a*ed 2, years) Hindu) Indian Nationa- resident of .2") Sa00hire En3-a(e) 1a-a2y Road) Ahmedabad$ hereinafter 3a--ed as the FIFTH PART4%' AND =HEREAS as the abo(e 0arties ha(e a*reed and de3ided to start a business of manufa3turin*) tradin* ) e20ort) sa-es and 0ur3hasein retai- stores of Artifi3ia- <e#e--ery) hair a33essories) use and su3h other business and>or any an3i--ary business and>or any other business or business in the name and sty-e of ?A:AN4A ?&ITED on and u0on the terms and 3ondition a*reed bet#een the 0arties hereto as hereunder' AND =HERAS the 0arties hereto no# desire to redu3e the terms and 3ondition mutua--y a*reed by and bet#een them in #ritin*' No# it is hereby a*reed by and bet#een the 0arties hereto that ha(e be3ome and <oined in 0artnershi0 u0on the terms and 3ondition hereinafter e20ressed' !' NA&E AND ST4?E@ 6

The name and the sty-e of 0artnershi0 firm sha-- be ?A:AN4A ?I&ITED' The 0artners sha-- be entit-ed to 3arry on business under any
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other name and>or name as may be a*reed u0on mutua--y from time to time' 2' /O&&EN/E&ENT@ 6

The 0artnershi0 firm sha-- be deemed to ha(e 3ommen3ed on and from ! st day of February 2 !" 3' .;SINESS@ 6

The .usiness en*a*ed in artifi3ia- <e#e--ery) hair a33essories of different siAes and Desi*ns for use' "' .;SINESS P?A/E@ 6

The business of the 0artnershi0 sha-- be 3arried on at P-ot No' ! ,>A) Orion Estate) Sr' No' ,3>3 $A%) ! st f-oor /hand-odiya) Ahmedabad and>or su3h other 0-a3e or 0-a3es as the 0arties may from time to time de3ide'

,'

D;RATION@ 6

The duration of 0artnershi0 sha-- be BAT =I??C but in 3ase any 0artner desire to retire from the 0artnershi0 he>she sha-- be at -iberty to do so b *i(in* one #ee+Ds noti3e in #ritin* to the other 0artners' The remainin* 0artners may 3ontinue the same business a3ti(ities of any other 0artner as abo(e' E' SHARES@ 6

The Net Profit>?osses of the 0artnershi0 business as 0er the boo+s of a33ounts maintained by the 0artnershi0) after dedu3tion of a-- 3osts) 3har*es) e20enses and out*oin*s of the in3identa- to and re-atin* in may manner to tradin* a3ti(ities of the 0artnershi0) in3-udin* #a*es and sa-aries and a-- other estab-ishment e20enses) as #e-- as interest on -oans and borro#in*s and rents) rates) ta2es) assessments) in3ome ta2 and other ta2es) duties) 0ena-ties of the 0artnershi0 firm) insuran3e 0remiums su3h other e20enses sha-- be di(ided and distributed amon*st the 0artners in the fo--o#in* 0ro0ortions@6 !' &s' Anubha JainFFFFFF2 G 2' &s'Roshni &a<umdar FFF''2 G 3' &s' Anshita Shri(asta(aFFF2 G "' &s'.i0asha Sar+ar FFFFF2 G ,' &s'1auri JainFFFFFFF'2 G

The -osses) if any) in3-udin* -oss of 3a0ita- suffered in any years) sha-- be a00ortioned bet#een the 0artners in the abo(e 0ro0ortions'

H'

/APITA?@ 6

The 3a0ita- reIuired for the business of the 0artnershi0 sha-- be 3ontributed or arran*e for by the 0artners in su3h manner as may be mutua--y a*reed u0on' J' PARTNERDS PERSONA? =ITHDRA=A?S@ 6
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The 0arties herein sha-- #ithdra# the amount a*reed u0on by the mutua3onsent from the a(ai-ab-e funds of the 0artnershi0 .usiness' K' .ORRO=IN1S

The 0artnershi0 firm may borro# from 0ersons) firm) 3om0anies) finan3ia- institutions) 3or0orations of ban+s su3h moneys as may be reIuired for their business or de0osits or -oans at any a*reed rate of interest' ! ' .AN7 A//O;NTS The ban+ a33ount of the 0artnershi0 business sha-- remain #ith any s3hedu-ed ban+ of ban+s in the name of the firm as mutua--y a*reed u0on by both 0artners' A-- su3h ban+ a33ount or a33ount sha-- be o0erated as mutua--y a*reed u0on by 0artners here to se3urity and terms and 3ondition as they may mutua--y de3ide' !!' A//O;NTS@ 6 The ne3essary and a33ount of the sa-es) 0ur3hase) re3ei0ts) 0ayments) en*a*ements) transa3tions) dea-in*s and thin*s re-atin* to the business of the firm sha-- be made u0 and maintained at the 0remises of the firm under the dire3t su0er(ision of the 0artners' The said boo+s of a33ounts) (ou3hers) re3ei0ts) se3urities) 0a0ers) do3uments) -etters and #ritin* 3on3ernin* be be-on*in* to the 0artnershi0 sha-- be +e0t in the sa-e 3ustody at the re-e(ant a00ro0riate 0-a3e or 0-a3es in a33ordan3e #ith the reIuirement of the business of the 0artnershi0 and both 0arty sha-- ha(e
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a33ess at a-- the time #ithout interru0tion or hindran3e by #ay of any other a3t to ins0e3t) se3urities or 3o0y the same by himse-f or his duty authoriAed a*ent' !2' A//O;NTIN1 4EAR@ 6 The a33ountin* year of the 0artnershi0 firm sha-- be from ! st A0ri- to 3!st &ar3h ea3h year and first a33ountin* 0eriod #i-- be from ! st February 2 !" to 3!st &ar3h 2 !"' !3' FINA? A//O;NT@ 6 At the end of the a33ountin* year as aforesaid #i-- be ta+en of a-- the assets and -iabi-ities and of the 0rofits and -osses of the 0artnershi0 for the same be in3or0orated in the finan3ia- 0artnershi0 for the same be in3or0orated in the finan3ia- statements #hi3h sha-- be si*ned by both the 0artners and #hen so si*ned by them a-- 0artners sha-- be bound thereby un-ess some manifest error ha(e been dis3o(ered #ithin three 3a-endar month of si*nin* in #hi3h su3h errors sha-- forth#ith be re3tified'

!"' AD&ISSION OF NE= PARTNERS@ 6 The 0artners herein may admit any ne# 0artner or 0artners u0on su3h terms and 3onditions as may be a*reed u0on' !,' .;SINESS &ANA1E&ENT@ 6

It is mutua--y a*reed bet#een the 0artners that a-- im0ortant matters) 0o-i3y and business a3ti(ities dea-in*s and transa3tions in3-udin* o0eration of the ban+ a33ounts) -oans and borro#in*s any +ind of a3ti(ities re-ated to the business of the firm #i-- be attended to -oo+in* after and mana*ed by the 0arties' !E' D;TIES@ 6 $A% Ea3h 0artners sha--@ 6 !' Pun3tua--y 0ay his se0arate debt and indemnify the other and the

assets of the firm a*ainst the same and a-- the e20enses on a33ount thereof' 2' Forth#ith 0ay a-- moneys) 3heIues and ne*otiab-e instruments

re3ei(ed on a33ount of the firm into the 0artnershi0' 3' .e <ust and faithfu- to the other and *i(e to the others fu--

information truthfu- e20-anation of a-- the matters re-atin* to the affairs of the 0artnershi0' !H' DEATH@ 6 Death) retirement or inso-(en3y of the 0artner sha-- not disso-(e the firm'

!J' DISSO?;TION@ 6 On the disso-ution of firm *enera- a33ounts sha-- be ta+en of a-- the money) in(entories) debts and effe3ts) that be-on*s or due o the 0artnershi0 and of a-- the -iabi-ities of the 0artners in3-udin* 3a0ita-s and
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su3h a33ounts sha-- be made #ithin si2 months from the date of disso-ution and the amount 0ayab-e to ea3h 0artnershi0 sha-- be 0aid to ea3h one>him>her' !K' RETIRE&ENTS@ 6 !' Any 0artner may retire from the 0artnershi0 by *i(in* one #ee+Ds

noti3e in #ritin* to other 0artners of his>her intention to do so and on the e20iry of the 0eriod of su3h noti3es the 0artnershi0 sha-- stand determined so for as 3on3ernin* the 0artner *i(in* the noti3e' 2' In the e(ent of any 0artner retirin* from the 0artnershi0 sha-- be

0aid the ba-an3e standin* to his>her 3redit as on the date of retirement in3-udin* the 0rofits determined u0 to the date of his>her retirement' ?i+e#ise) he>she sha-- forth #ith 0ay to the firm any ba-an3e standin* to the debit of his>her a33ount' If any) as a-so his>her share in the -osses of the 0artnershi0 business determined on to the date of retirement' The net amount 0ayab-e to retirin* 0artner or his>her -e*a- heirs may be 0aid or re3ei(ed by insta--ments as may be mutua--y a*reed u0on bet#een the 3ontinuin* 0artners and the retirin* 0artner or his>her -e*a- heirs'

2 ' DEATH OR INSO?:EN/4@ 6 ;0on the death or inso-(en3y of any 0artner the 0artnershi0 sha-- not BI0so Fa3ioC be disso-(ed as re*ards the sur(i(in* or remainin* 0artners #ho sha-- be entit-ed to 3ontinue the 0artnershi0 business ti-- the end of
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the a33ountin* year and in su3h e(ents the -e*a- heirs of the de3eased 0artner or the assi*nee or the estate of the inso-(ent 0artner #i-- be entit-ed to re3ei(e form the 0artnershi0) the amount re0resentin* the share of the de3eased or inso-(ent 0artner based on 0rofit or -oss) as the same may be as at the 3-ose or year) a-on*#ith the amount standin* to the 3redit of the de3eased or inso-(ent 0artner is his>her 3a0ita-) 3urrent and>or -oan a33ount) -ess the amount standin* to his>her debit or #hi3h the de3eased or inso-(ent 0artners sha-- be -iab-e to 0ay to the 0artnershi0 on any a33ount ti-- them' /ertifi3ate from the Auditors of the firm re*ardin* the same and the share in 0rofit or -oss of the de3eased or inso-(ent 0artner as sho#n in the 3ertifi3ates sha-- be fina- and bendin* u0on and sha-- not be Iuestioned by the heir of the de3eased 0artner or the assi*nee of the estate of the inso-(ent 0artner' 2!' A?TERATIONS OR ADDITIONS OF AN4 /?A;SE OF THE PARTNERSHIP DEED Not#ithstandin* anythin* stated or 0ro(ided herein the 0artners sha-ha(e fu-- 0o#ers and dis3retion) to modify or a-ter or (ary the term and 3onditions of the 0artnershi0 deed in any manner #hatsoe(er they thin+ in by mutua- 3onsent #hi3h sha-- be redu3ed it #ritin* and sha-- be3ome a00enda*e and 0art of this deed' 22' AR.ITRATION@ 6

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If any dis0ute arises bet#een the 0arties hereto res0e3t to the 3ondu3t of the business of 0artnershi0 or in res0e3t of inter0retation) o0eration or endorsement if any of the terms and 3onditions of these 0resents or in res0e3t of any other matter) 3ause or thin* #hatsoe(er not herein other#ise 0ro(ided for the same sha-- be referred for ad<udi3ation to the arbitration under the 0ro(ision of the Indian Arbitration A3t) !K" or any statutory modifi3ation or reena3tment thereof for the time bein* sha-- be a00-i3ab-e the de3ision of the said arbitration sha-- be fina- bindin* on the 0arties and their -e*a- re0resentati(es'

PRO:IDED A?=A4S and is here#ith a*reed that #hene(er su3h inter0retation #ou-d be reIuisite *i(en the fu--est 0ossib-e s3o0e to the
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3onte2t and 3o(enants herein 3ontained the e20ression) THE FIRST PART L SE/OND PART4) herein abo(e 3ontained sha-- be deemed to in3-ude res0e3ti(e heirs) su33essors) -e*a- re0resentati(es) e2e3utors and assi*ns of the 0arties themse-(es'

IN =ITNESS =HEREOF the 0arties to this deed ha(e set their hands on the day and year first abo(e #ritten and in the 0resen3e of@ &s' Anubha Jain

First Party

&s'Roshni &a<umdar

Se3ond Party

&s' Anshita Shri(asta(a

THIRD PART4 &s'.i0asha Sar+ar

FO;RTH PART4

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&s'1auri Jain

FIFTH PART4

=ITNESSES@ !' Soma Dee0ti Nambiar

2' 7an3han A*ar#a-

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