PARTNERSHIP DEED

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PARTNERSHIP DEED

This deed of partnership is made on this (date). . . . . . . .  . between:

1. . . . . .  . ..  . ..  . . . . … …… . . . . . . . . . . . . . hereinafter referred to as first

part.

2. . . . .    . . . . . . . . . . . . . .     …….   ………………… hereinafter referred to as

second party.

3. . . . . . . . . . . . . . . . . . . . . .. . . . . . . .. . . .. .hereinafter referred to as third party and

4. . . . ..    .. . . . . . . . . ……………………………….. hereinafter referred to as

fourth party.

Whereas, the parties hereto have agreed to commence business in partnership and it is expedient to have a written instrument of partnership.

NOW THIS PARTNERSHIP WITNESSES AS FOLLOWS:

1)   The parties here to have mutually agreed to carry on the business of civil contract like, construction of building, layout formation, land development and builders under the name and style of . . . . . . . .. . . . . . .

. . . . . . (Firm Name)

2)   PLACE OF BUSINESS:

The principal place of partnership business situated at No.

3) DURATION OF PARTNERSHIP:

The duration of the partnership will be at will

4) CAPITAL OF THE FIRM:

Initially the capital of the firm shall be Rs.. . . . . . . .. . and contributes by all the partners as per their profit sharing ratio.

5) PROFIT SHARING RATIO:

The profit or loss of the firm shall be shared equally among all the partners and transferred to partners current account.

6) MANAGEMENT:

The first party of the firm shall be the Managing partner and he will look after all the day to day transaction of the firm and any legal activities in the name of the firm and the remaining partners has to co-operate to do so.

7) OPERATION OF BANK ACCOUNTS:

The firm shall open a current account in the name of . . . . . . . . . . . . . at any nationalized banks, scheduled Banks or any co-operative Banks and such account shall be operated by first and second partners jointly as declared from time to time to the Banks.

8) BORROWING:

The firm shall require any additional capital/working capital, shall being from any financial institutions only with written consent of all the partners.

9) ACCOUNTS:

The firm shall regularly maintain in the ordinary course of business, true and correct account of all its in comings and out goings and also of all its assets and liabilities, the proper books of account, which shall ordinarily kept at the firms place of business. The accounting year shall be the financial year from 1st April onwards and the balance sheet shall be properly audited and the same shall be signed by all the partners. Every partner shall have access to the books and the right to verify their corrections.

10) PATIREMANT:

If any partner shall at anytime during the subsistence of the partnership, be desirous of retiring from the firm, it shall be competent from his to do so, provided he shall give at least one calendar month notice of his intention of gadding so: The continuing partner shall pay to the retiring partner or his legal representatives of the deceased partner, the purchase money of his share in the assets of the firm.

11) DEATH OF PARTNER:

In the event of death of any partner/s, one of the legal represents of the deceased partner shall become the partner of the firm and in the event the legal representative show their denial to point he firm, they shall be paid the part of the purchase amount calculated as on the date of the death of the partner.

12)  Whenever there by any difference of opinion or any dispute between the partners the partners shall refer the same to an arbitration of one person. The decision of the arbitrator so nominated shall be final and binding on all partners, such arbitration proceedings shall be governed by Indian arbitration Act, which is in force.

In witness whereof, this deed of partnership is singed sealed and delivered this the day of . . . . . . . . . . . at Bangalore.

WITHNESSES:

1.                                                                                                      1.

2.

2.

3.

PARTITION DEED

PARTITION DEED

THIS DEED OF PARTITION made at __________this _________ day of

(1)   Sri._________________,S/o._____________,Age______years,

Occupation__________, Residing at__________________________. hereinafter referred to as the Party of the First Part.

(2)   Sri._________________,S/o._____________,Age______years,

Occupation__________, Residing at__________________________. hereinafter referred to as the Party of the Second Part.

(3)   Sri._________________,S/o._____________,Age______years,

Occupation__________, Residing at__________________________. hereinafter referred to as the Party of the Third Part.

(4)   ……………………..Etc.

WHEREAS;

1        (a) The parties hereto are the members and coparceners of their joint and undivided Hindu Family and as such own immovable properties consisting of land and building thereon and situate at ________________and more particularly described in Schedule "A" hereunder written and each of the parties hereto is entitled to share in the Schedule "A" property.

(b)   Parties to this partition have thrown their properties described in Schedule "A" in the common hatch pot and declared themselves as these properties are belongs to Joint Family property.

2.  The parties desire to effect a partition of the said properties between themselves as they no longer desire to continue as members and coparceners of their joint family property and desire to be separate in food, worship and estate.

3.  The parties have agreed that the said Schedule "A" properties will be divided and partitioned in such a way that namely;

(a)   The property described in the said First Schedule shall be allotted and belongs to the Party of the First Part exclusively,

(b)  The property described in the said Second Schedule shall be allotted and belongs to the Party of the Second Part exclusively and,

(c)   The property described in the said Third Schedule shall be allotted and belongs to the Party of the Third Part exclusively.

4.  The parties hereto have proposed to effect and record the said partition in the manner following:

NOW THIS DEED WITNESSETH AS FOLLOW:

1.  The parties have agreed that the said Schedule "A" properties will be divided and partitioned in such a way that namely;

(a)   The property described in the said First Schedule shall be allotted and belongs to the Party of the First Part exclusively,

(b)  The property described in the said Second Schedule shall be allotted and belongs to the Party of the Second Part exclusively and,

(c)   The property described in the said Third Schedule shall be allotted and belongs to the Party of the Third Part exclusively.

2.  In consideration aforesaid, each of the parties hereto grant and release all his/her undivided share, right, title and interest in the property allotted to the other of them as aforesaid so as to constitute each party the sole and absolute owner of the property allotted to him/her freed and discharged from all rights, title, interest claims and demands of the other party hereto or concerning the same but subject to the payment of all taxes, rates, dues and duties and assessment payable to Government or Municipal Corporation or any other public body in respect thereof.

3.  Each party covenants with the other that he/she has not done any act deed or thing whereby or by means whereof he/she is prevented from conveying and releasing the property to the other in the manner aforesaid.

4.  Each party also covenants with the other that each party will execute and get registered, if necessary any deed, assurance or other document which may be required for fuller and more perfectly and effectually assuring the property, allotted to the other but at the cost and expenses of the other.

5.  Each party hereto further covenants with the other that the latter will hereafter hold and stand possessed of the property allotted to him/her quietly and peacefully and enjoy the rents and profits thereof without any suit, interruption, claim or demand by the covenanting party, his/her heirs, executors administrators and assigns or any person claiming under him/her.

6.  The original of the deed of partition will remain in the custody of the Party of the First Part and the duplicate copy hereof will remain in the custody of the Party of the Other Part.

7.  And  it  is  further  agreed  and  declared  that  the  title  deeds  relating  to  the properties and which are common to both of them and which are set out in the

____________Schedule hereunder written shall remain with the Party of the First Part who has agreed to give a covenant for production in favour of the Party of the ___________Part.

SCHEDULE "A"

(Details of Undivided properties belongs to Joint Family)

Sl.	Description of the Property	Property standing in the
No.		name of
1
2
3
4 etc.
	FIRST SCHEDULE

(Property allotted to the share of Sri.__________________________ First part)

SECOND SCHEDULE

(Property allotted to the share of Sri.__________________________Second part)

THIRD SCHEDULE

(Property allotted to the share of Sri._________________________Third part)

WITNESS:
1.	FIRST PARTY
2.	SECOND PARTY
3.	THIRD PARTY

LICENSE AGREEMENT

LICENSE AGREEMENT

Agreement made at _______________ this _______ day of _________ years between Sri./Smt._____________ herein after referred to as “the Licensor” of the one part and Sri./Smt.____________ herein after referred to as “the Licensee” of the other part, as follows:-

WHEREAS

1.  The Licensor is the owner of the property described in the schedule written here in under herein after called as “scheduled property”.

2.  The Licensee is approached the Licensor with request to allow the Licensee to temporarily to occupy and use the scheduled property for carrying on his

____________________ business, on license basis until the Licensee gets other more suitable accommodation.

3.  The Licensor has agreed to grant license to the Licensee to occupy and use the said scheduled property on the following terms and conditions agreed to between the parties hereto.

NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

1.     The Licensor hereby grants license to the Licensee to occupy and use the scheduled property for a period of ______________ month from

_________. The Licensee agrees to vacate the said premises even earlier if the Licensee secures any other accommodations.

2.     The Licensee shall pay to the Licensor a sum of Rs._________ per month as license fee or compensation to be paid in advance for each month on or before the _______ day of each month.

3.     All the municipal taxes and other taxes and levies in respect of the licensed premises will be paid by the Licensor alone.

4.     The electric charges and water charges for electric and water consumption in the said licensed scheduled property will be paid by the Licensee to the authorities concerned and the Licensor will not be responsible for the same.

5.     Licensee will be allowed to use the licensed scheduled property.

6.     The licensed scheduled property will be used only for carrying on business and for no other illegal, immoral purpose.

7.     Licensed scheduled property has normal electricity fittings and fixtures. If the Licensee desires to have any additional fittings and fixtures, the Licensee may do so at his cost and in compliance with the rules. The Licensee shall remove such fittings and fixtures on the termination of the license failing which they shall be deemed to be the property of the Licensor.

8.     The licensed scheduled property is given to the Licensee on personal basis and the Licensee will not be entitled to transfer the benefit of this agreement to any body else or will not be entitled to allow any body else occupy the scheduled property or any part thereof. Nothing in this agreement shall be deemed to grant a lease or tenancy and the Licensee agrees and undertakes that no such contention shall be taken up by the Licensee at any time.

9.     The Licensee shall not be deemed to be in the exclusive occupation of the licensed scheduled property and the Licensor will have the right to enter upon the premises at any time during working hours to inspect the scheduled property.

10. The Licensee shall maintain the licensed scheduled property in good condition and will not cause any damage thereto. If any damage is causes to the scheduled property or any party thereof by the Licensee or his employees, servants or agents, the same will be made good by the Licensee at the cost of the Licensee either by rectifying the damage or by paying cash compensation as may be determined by the Licensor’s Architect.

11. The Licensee shall not carry out any work of structural repairs or additions or alterations to the said scheduled property. Only such alterations or additions or not of structural type or of permanent nature may be allowed to be made by the Licensee inside the scheduled property with the previous permission of the Licensor.

12. Licensee shall not cause any nuisance or annoyance to the people in the neighbourhood or store any hazardous goods in the schedul ed property.

13. If the Licensee commits a breach of any term of this agreement then notwithstanding anything herein contained the Licensor will be entitled to terminate this agreement by _____________ days prior notice to the Licensee.

14. On the expiration of the said term or period the license or earlier termination thereof, the Licensee shall hand over vacant and peaceful possession of the licensed scheduled property to the Licensor in the same condition in which the scheduled property now exists subject to normal wear and tear. The Licensee’s occupation of the scheduled property after such termination will be deemed to be that of a trespasser.

SCHEDULE

(License under this deed)

All the piece and parcel of immovable property bearing No.____________* Measuring _______________

Bounded by: -

On the East

On the West

On the South

On the North

Market value of the property Licensed under this deed is Rs._____________ (Rupees____________________________________only).

The Stamp duty is paid as per Article 32A of the Schedule to the Karnataka Stamp Act, 1957.

IN WITNESS WHEREOF the parties herein have affixed their respective signatures to this deed at _______________ on this ______________ day of ______________ year in presence of the witness:

WITNESSES:
1.	LICENSOR
2.	LICENSEE