DEED OF PARTNERSHIP
THIS DEED of Partnership made at Kolkata, West
Bengal, this day of December 2014
among Mr. ZAKIR MONDAL, son of
Samsher Ali Mondal, Muslim in habitant, resident of Dakshin Ramchandrapur,
P.O.Narendrapur, P.S. Sonarpur, Kolkata-700103, District- South 24 Parganas of
the ONE PART. Mr.BASUDEV TALUKDER, son of Jagganath Talukder, Hindu in habitant, resident
of Kalitala Yaba Sangha, P.O. Laskarpur, P.S. Sonarpur, Kolkata-700153,
District- South 24 Parganas of the SECOND
PART. Mr.MALAY BHOWMICK, son of
Narayan Bhowmick, Hindu in habitant, resident of Kalitala Yaba Sangha, P.O.
Laskarpur, P.S. Sonarpur, Kolkata-700153, District- South 24 Parganas of the THIRD PART. Mr. TARUN CHOWDHURY, son of Kanai Chowdhury, Hindu in habitant, resident
of Laskarpur Lake Garden Pally, Unnayan Samity, Jyostna Sarani, P.O. Laskarpur,
P.S. Sonarpur, Kolkata-700153, District- South 24 Parganas of the FOURTH PART.
WHEREBY IT IS AGREED that the parties hereto (hereinafter
together called the partners) shall become partners in the business of Promoting/Developing
the building Construction and supplier of building materials etc. with effect
from 4th December upon the terms and conditions hereinafter
contained namely:
1. The partnership shall be carried on
the name and style of “M/s MTBZ
Enterprise” a Building material supplier and Promoting/Developing the
building Construction.
The further capital if any required by the partnership shall be brought
by the partners and such additional capital brought by the partners shall be
treated as loan to the firm and shall be paid interest on loan mutually decided
by the partners out of the gross profit of the firm.
5. The bank account of the partnership
shall be opened in any bank and the operation of bank account shall be mutually
decided by the parties. The bank account of the firm shall be operated upon by
jointly.
6. The net profits of the business shall be
divided between the partners in equally of the capital and they shall bear all
losses including loss of capital in equally.
8. Each partner shall-
a) Be just and faithful to other
partners in the transaction relating to partnership business;
b) Pay his separate debts and indemnify
the other partners and assets of the firm against the same and all other
proceedings, costs, claims or demands in respect thereof;
c) Give full information and truthful
explanation of all matters relating to the affairs of the partnership to all
the partners at all times.
9. No partner shall without the consent
of the partners:-
a) Engage in any other business directly
or indirectly.
b) Lend money or give credit of the
goods of the firm to whom the other partners have previously forbidden him to
trust.
c) Mortgage, charge or assign his share
in the assets or profits of the firm.
d) Draw, accept or indorse any bill of
exchange or promissory note on account of the firm.
e) Engage, remove or dismiss any
apprentice, employee or agent of the firm.
f) Give any security or promise for the
payment of money on account of the firm except in the ordinary course of
business.
g) Give bail, bond or guarantee or become
surely for any person or do or knowingly suffer any thing to be done where the
partnership property may be endangered.
h) Compromise or compound or, release
or, discharge any debt due to the partnership.
10.
The Books of Accounts of the partnership
Business shall be closed on the last day of March of every financial year. The
Books of Accounts of the firm shall be kept at the office of the business and
shall remain open for inspection of the partners at any reasonable time.
11.
A new partner may be introduced with the
consent of all the partners on such terms and condition as the partners agree
with the person to be introduced as a partner, in the firm.
12.
That in the event of death of any of the
partner the firm shall not be dissolved but the heirs, executors,
administrators, representatives and assigns of the deceased partner may step
into the shoes of the deceased partner in his place or stead of the firm if
legal heir/heirs agree.
13.
If a partner retires (prior one month notice
necessary) or becomes insolvent, then the partnership will not be dissolved, and
the remaining partner shall have the option to purchase the share of such
partner and the purchase price shall be calculated as given in the preceding
clause.
14.
All
outgoing and expenses of the partnership and all losses or damages incurred,
interest payable for any loans received and taxes, etc. shall be paid first out
of the profits, next out of capital and in the case of further deficiency, by
the partners in the shares in which they are entitled to the net profits of the
partnership business.
15.
All partnership moneys, bills, notes, cheques
and other instruments received by the partnership shall as and when received be
paid and deposited in the bank to the credit of the firms’ account, except such
as are immediately required to meet the current expanses of the partnership
firm.
16.
All transaction of the firm shall be done in
the name of the partnership and all goods shall be purchased or sold in the
firm name. All the bills, vouchers, delivery notes, receipts, etc. shall be
issued in the name of the firm.
17.
Upon
the determination of the partnership by efflux of time or in the case of death,
retirement or expulsion of a partner from the partnership , the surviving or
other partner shall not exercise the option of purchase the share and interest
of the deceased, retired or expelled partner or the partnership is determined
by any other event not herein otherwise provided, a full and general account of
the assets, credits, debts, liabilities of the partnership shall be taken and
the assets and credits shall be sold, realized and the proceeds shall be
applied in paying and discharging debts, liabilities and expenses of and
incidental to the partnership business and the winding up affairs of the
partnership affairs and subject thereto in paying to each partner any unpaid
profits which may be due to him and his share of the capital and the balance of
such proceeds shall be divided between the partners in the shares in which they
are entitled to the net profits of the partnership and the partners shall
execute, do or cooperate in all necessary or proper instruments, acts, matters
and things for effecting or facilitating the sale, realization and getting in
of the partnership assets and credits and the application and division of the
proceeds thereof and for their mutual release or indemnity or otherwise.
18.
Upon the determination of the partnership,
each partner shall have the option to purchase the goodwill of the partnership
on a price as agreed to by the partners, and if no partner exercise the option
to purchase the goodwill, the same shall be sold to a willing purchaser,
PROVIDED THAT it upon any such determination as aforesaid of the partnership,
the business thereof shall be sold as a going concern, the goodwill shall be
sold along with the business. No partner (unless he is the purchaser of such
business) shall directly or indirectly carry on or be concerned or interested
in a completion of sale of goodwill. The value of the goodwill shall be
considered as an asset of the firm and will be added to and form part of the
sum payable to all the partners on the dissolution of the partnership.
19.
All disputes and differences whatsoever which
shall arise between the partners or between the partners and the personal
representatives of the deceased partner relating to any matter whatsoever
touching the affairs of the partnership or the interpretation of this agreement
and whether before or after the determination of the partnership shall be referred
to a single arbitrator, if the parties agree upon one, otherwise to four arbitrators one to be appointed by each party
to the difference in accordance with and subject to the provisions of the
Arbitration and Conciliation Act, 1996 or any statutory modification or
re-enactment thereof for the time being in force.
20.
All the other matters for which no provision
is made in this deed. Shall be decided by the majority of the partners for the
time being of the partnership.
IN WITNESS WHEREOF, the parties hereto have hereunto set
and subscribe their respective hands the day, month and year first hereinabove
written.
WITNESSES: -
-----------------------------------
1. (Mr. ZAKIR MONDAL)
Signature of the First partner
2.
-----------------------------------
(Mr.BASUDEV TALUKDER)
Signature of the Second partner
3.
--------------------------------------
(Mr.MALAY BHOWMICK)
Signature of the Third partner
-------------------------------------
(Mr. TARUN CHOWDHURY)
Signature of
the Fourth partner
Identified by me
Advocate
Drafted
by :-
S.
Sutradhar
Advocate.
Alipore
Judges Court
Kolkata-
27
Computer
Print by:-
Avijit
Laha
“JOY
MATAJI PRINT”
Alipore
Judges Court
Kolkata-
27.
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