Legal Documents Library

RELEASE BETWEEN TWO PARTNERS

ON DISSOLUTION OF PARTNERSHIP

THIS RELEASE is made the ________ day of ________ 20 ________,

BETWEEN AA., aged _____________, etc.(hereinafter called 荘the First Party鋳) of the one part

AND BB., aged __________________, etc. (hereinafter called 荘the Second Party鋳) of the other part.

WHEREAS the said AA. and BB. were carrying on in partnership the business of __________________________________ and the said business was wound up and the partnership dissolved by deed, dated ___________________, executed by the said partners.

AND WHEREAS the winding up of the said

MUTUAL RELEASE BY TWO PARTNERS

ON ENDING OF PARTNERSHIP

THIS RELEASE DEED is executed on the _______ day of ________

BETWEEN

Sh. __________________________________________,

S/o Sh. __________________________________________,

R/o __________________________________________ of the first part;

AND

Sh. _______________________________________,

S/o Sh. _______________________________________,

R/o__________________________________________ of the second part;

both parties hereinafter collectedly referring as parties with individually as first party, and second party respectively, which expression shall

MUTUAL RELEASE BY THREE PARTNERS

ON ENDING OF PARTNERSHIP

THIS RELEASE DEED is executed on the _______ day of ________

BETWEEN

Sh.________________________________________,

S/o Sh._____________________________________,

R/o ________________________________________ of the first part;

AND

Sh.________________________________________,

S/o Sh.____________________________________,

R/o ________________________________________ of the second part;

AND

Sh.________________________________________,

S/o Sh.____________________________________,

R/o ________________________________________ of the third part;

A

DEED OF PARTNERSHIP

THIS DEED of Partnership is made at.................... on this .................... day of ............... by and between: Shri ............................... aged about .............. years, son of Shri .................................. resident of (Hereinafter to be called the First Party); Shri ............................... aged about ............... years, son of Shri .................................. resident of (Hereinafter to be called the Second Party); Shri ............................. aged about ................ years, son of Shri .................................. resident of (Hereinafter to be called the Third Party); Shri .......................... aged about ................. years, son of Shri .................................. resident of (Hereinafter to be called the Fourth Party);

WHEREAS the parties to this deed have been carrying on the business of ....................................... under the name and style of M/s. ......................... with its principal place of business at ............. on the terms and conditions incorporated in the Partnership Deed executed on .........................................

AND WHEREAS vital amendments have been made by the Finance Act, 1992 in the procedure for assessment of firm. Consequent to the said amendment, the parties to this deed had a meeting and have orally and mutually agreed to amend and alter some of the terms and conditions contained in the aforesaid partnership deed with effect from 1-4-1992.

AND FURTHER WHEREAS the parties to this deed have been carrying on the above said business in partnership on the terms and conditions orally and mutually agreed amongst themselves as aforesaid;

AND NOW WHEREAS the parties to this deed desire that the terms and conditions on which they have been carrying on the above said business in partnership since ...................... and propose to continue in future be reduced to writing to avoid future difficulties or misunderstanding.

NOW, THEREFORE THIS DEED WITNESSETH as under, incorporating the aforesaid amendment/ alteration in the terms and conditions of the partnership:

1. That the partnership business has been and shall continue to be carried on under the name and style of M/s. ....................................

2. That the partnership business has been and shall continue to be that of ................ with its principal place of business at .............. The parties by mutual consent may carry on business at such other place or places, in such other name or names and of such other nature or natures, as they may deem fit and proper from time to time.

3. That the amount lying to the credit of the partners as on 1-4-1992 shall be deemed as their capital investment. Further capital, loans or deposits looking to the needs/requirements of the partnership firm shall be arranged, invested or contributed by the partners.

4. That interest at the rate of 18% per annum or as may be prescribed under section 40(b)(iv) of the Income-tax Act, 1961 or any other applicable provisions as may be in force in the income-tax assessment of the partnership firm for the relevant accounting period or at a lower rate as may be agreed to by and between the parties from time to time shall

“THIS DEED OF PARTNERSHIP

is made the……………………………. day of……………………………. 2018 Between A.B., aged…….. etc. (hereinafter called the “First Party”)

AND C.D., aged……. etc.

(hereinafter called the “Second Party”) of the second part AND E.F., aged…….. etc. (hereinafter called the “Third Party”) of the Third Part.” Thereafter, the terms and conditions as mentioned in the above Model Form, with suitable modifications, should be given. Deed extending Period of a Partnership

THIS DEED OF AGREEMENT is made the…………………………….

day of……………………………. 2013

BETWEEN

A.B., C.D. and E.F. AND WITNESSES as follows: That each of the said A.B., C.D. and E.F. do hereby agree with the others of them, jointly and severally, in the manner following, that is to say: That the said A.B., C.D. and E.F. will remain and continue partners together in the said trade or business of……………………………. for the further term of……………………………. years to be counted from the……………………………. day of……………………………. 2018 the day on which the original deed of partnership shall expire, upon such and the same terms and conditions, and with, under and subject to such and the same covenants, provisions and agreements as are expressed and contained in the said original deed of partnership to which this agreement is appended, and to which the said partners hereto, their respective legal representatives would have been subject or liable, if the said deed of partnership and the partnership thereby created, and the several covenants, declarations, provisions and agreements therein mentioned and contained had been made or entered into for the term of ten years instead of the term of five years.

IN W ITNESS whereof the said A.B., C.D. and E.F. have hereto at……………………………. by way of a supplementary deed executed these presents on the day and the year first above mentioned and appended the same to the original deed of partnership, deed………………

WITNESSES:

Sd/- A.B. Sd/- C.D. Sd/-

E.F.

ANNEXURE III Deed of Agreement of Admission into Firm of a New Partner THIS DEED OF AGREEMENT IS made the ………………… day of ………………… 2018

BETW EEN AB ………………… son of ………………… aged ………………… R/o ………………… and CD ……………… son of………………… aged ………………… R/o ………………… partners in the firm CD & CO. of the one part, AND EF ………………… son of ………………… aged ………………… years resident of ………………… of the other part.

WHEREAS the said AB and CD are partners in the firm CD & Co. situated in………………… and are bound as such under a deed partnership executed by them on the………………… day of………………… 2018 hereinafter referred to as the “partnership deed”.

AND WHEREAS the said EF is desirous of being admitted as a member in the aforesaid firm of CD and Co. and invest a sum of Rs………………… AND the said AB and CD are willing to admit him as an additional partner. NOW THEREFORE THE DEED WITNESSES that in pursuance of the said agreement and in consideration of the said EF bringing in and contributing the sum of Rupees………………… (Rs…………………) only as additional capital of the above partnership firm, it is mutually agreed as follows:

1. The parties hereto shall, as from the date hereof be and continue partners for the unexpired residue of the terms mentioned in para………………… of the partnership deed subject in all respects to the conditions, stipulations, and provisions of the aforesaid partnership deed, so far as applicable, and except as varied by this deed of agreement. Lesson 7 n Drafting and Conveyancing Relating to Various Deeds and Agreements-IV 325

2. The capital mentioned in the partnership deed shall hereafter be changed to the sum of Rupees………………… only and the partners shall hereafter have the undernoted shares in the capital. AB shall have Rs………………… in the said capital; CD shall have Rs………………… in the said capital; and EF shall have Rs………………… in the said capital. 3. The profits and losses of the partnership shall continue to be borne by the partners hereto in proportion to their above named respective shares. IN WITNESS WHEREOF the said AB, CD and EF have hereto at………………… signed the day and the year

Deed of Partnership between two Partners

(To be executed on Rs. 15/- Non Judicial Stamp Paper)

THIS INDENTURE OF PARTNERSHIP IS MADE ON the………………… day of………………… 2018

Between

A.B. ………………… S/o…………………

R/o………………… aged………………… (hereinafter called the ‘First Party’) AND C.D………………… aged………………… years, son of………………… resident of………………… (hereinafter called the ‘Second Party’). WHEREAS the parties hereto have agreed to commence business in partnership and it is expedient to have a written instrument of partnership. WHEREAS the parties hereto have mutually agreed to carry on the business of………………… (here describe the business) at………………… (here specify the place or the principal place of business) and to share the profits and losses of the said business in partnership between themselves and they have with that object 322 PP-DP&A constituted themselves into a firm of partners under the name and style of M/s………………… (here give the name of the firm). The terms and conditions agreed to by and between the parties hereto witnesses: 1. The duration of the firm shall be, to begin with, a period of………………… years or such further or lesser period as the parties may choose to mutually agree. 2. The capital of the firm for the time being is fixed at Rs.………………… (Rupees…………………) only which has been contributed by the partners as follows namely: First Party………………… Second Party………………… (In case minor is admitted to the benefits of the partnership the capital contributed by him, if any) Provided that the partners may by mutual agreement increase or decrease the capital and their respective contributions thereto. The partners by mutual consent may raise capital by way of loans if considered expedient. 3. The partners shall distribute the net profits and bear the losses in the following ratios: First Party………………… Second Party………………… 4. The partner, shall be entitled to withdraw out of the profits, money not exceeding Rs………………… in each month adjustable against the account of the respective partners at the time of annual accounting. 5. The First party shall make available to the firm the shop premises in which the business of the firm shall be carried on, situated at………………… and which shop or

PUBLIC NOTICE BY A MINOR ON EXTINING MAJORITY TO ELECTING BECOME A MEMBER

IN THE PARTNERSHIP FIRM

Notice is hereby given to Public that I, the undersigned, having now attained majority on the______day of ------------------ do hereby elect to become a partner in the partnership subsisting between Mr.____________________________________,

S/o_____________________________,_______

R/o____________________________________,

Mr ____________________________,________

S/o________________________________,____

R/o__________________________________,__

& Mr ___________________________________,

S/o____________

NOTICE OF DISSOLVING PARTNERSHIP

Notice is hereby given to all concerned that from the date hereof the partnership subsisting

between

Mr._______________________________,

S/o________________________________,

R/o________________________________,

Mr ________________________________,

S/o________________________________,

R/o_________________________________, &

Mr __________________________________,

S/o__________________________________,

R/o___________________________________, carrying on business of _______________________ at address _________________ under the name of ______________ is dissolved

JOINT VENTURE / SHARE HOLDERS AGREEMENT

MODEL OF A JOINT VENTURE/SHARE HOLDERS AGREEMENT BETWEEN TWO COMPANIES HOLDING EQUAL SHARES IN THE JOINT VENTURE COMPANY TO BE INCORPORATED FOR A PARTICULAR PROJECT

THIS AGREEMENT executed at_______________ on the day of___________________

BETWEEN: M/S. ABC PRIVATE LIMITED.

(herein after referred to as the "ABC", which expression shall, wherever the context so requires or admits, mean and include, its successors and assigns).

A N D: M/S.XYZ PRIVATE LIMITED,

(here in after referred to as the "XYZ ", which expression shall, wherever the context so requires or admits, mean and include, its successors-in-title and assigns);

WITNESSES AS FOLLOWS:

I. WHEREAS ABC is engaged in business of ____________________ and have the necessary experience and expertise in that field;

II. WHEREAS the XYZ are doing ____________________________________ and have the necessary experience and expertise in that field;

III. WHEREAS the parties hereto have decided to float a project of _______________________________ ( hereinafter referred to as the "PROJECT");

IV. WHEREAS ABC and XYZ both having the necessary infrastructure and the capabilities of providing the services required for the project have agreed to form a Joint Venture Company for the Project and ABC and XYZ are desirous of entering into an Agreement for constituting Joint Venture Company in terms hereof;

V. WHEREAS the Parties hereto for the said Project have decided to form a Joint Venture Company and whereas subject to all necessary consents, licences, permissions and authorities to be procured for the formation and incorporation of the joint venture Company in the State of India, with the principle object, inter alia, being that of ____________________;

VI. WHEREAS ABC and XYZ are desirous of recording the Agreement with regard thereto and the agreement arrived at between them;

VII. NOW THIS AGREEMENT WITNESSESTH AS FOLLOWS:

1. It is agreed between the parties hereto to constitute a new Company which will be incorporated under the provisions of the Companies Act, 1956 and the Parties further agree that the said Company shall carry on its business in the name and style of "XYZ - ABC PRIVATE LIMITED" or any other name as may be mutually agreed between the parties hereto, (hereinafter referred to as the "SAID COMPANY" or "JOINT VENTURE COMPANY")

2. It is agreed that the terms and conditions of this Agreement shall govern the relationship of ABC and XYZ and the rendering of services under this Agreement and any subsequent Agreement;

3. It is agreed between the Parties hereto that the share holdings of the said Company shall be held by XYZ and ABC in the ratio of _% belonging to XYZ and _% belonging to ABC;

4. The Company shall be incorporated in the State of _________, after following all the provisions of the Companies Act, 1956 including any amendments from time to time, required for the incorporation thereof. The Registered Office of the Joint Venture Company shall be situated at "__________", ___, ________ Road, ___________________;

5. It is agreed between the Parties hereto that the said Company shall have as its object of business recorded in the Memorandum of Association & Articles of Association inter alia _____________________________________________________________________;

6. It is agreed between the Parties hereto that the authorised capital of the said Company shall be Rs.______ /- (Rupees _______only) divided into ______equity share of Rs.__________ /- (Rupees _________only) each;

7. The Parties hereto shall jointly approve the Memorandum and Articles of Association of the said Company taking into consideration the principle objectives as set out in Paragraph 5 above;

8. ABC shall on incorporation of the Joint Venture Company subscribe to ___% of the authorised share capital and the XYZ shall on the incorporation of the said Company subscribe to __% of the authorised share capital, and pay for such shares on call made by the said Company