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Partnership deed

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					                          DEED OF PARTNERSHIP.
THIS DEED OF PARTNERSHIP made at Karachi on this dated 24th September 2010 and
between.

     1. Mr. Xyz, son of Mr. ABUL HASSAN QURESHI holding National Identity Card
        No.42201-2367397-7 Muslim, Adult, Resident of House No. R-12, Street 8/A, NCHS,
        Block-10-A, Gulshan-e-Iqbal, Karachi (HEREINAFTER CALLED PARTY OF THE
        FIRST PART).

     2. Mr. xyz, wife of Mr. MUHAMMAD SHAHID QURESHI, holding National Identity Card
        No 42101-1682233-8 Muslim Adult, Resident of House No. R-12, Street 8/A, NCHS,
        Block-10-A, Gulshan-e-Iqbal, Karachi, (HEREINAFTER CALLED PARTY OF THE
        SECOND PART).

        NOW THEREFORE THIS DEED OF PARTNERSHIP WITNESS THAT THE PARTIES
        HERETO COVENANT AND AGREE TO FOLLOWING TERMS AND CONDITIONS.

1.      NAME OF PARTNERSHIP FIRM.
        That the name and style of the partnership shall be "M/S. INTERNATIONAL, the same
        shall be carried at Plot No. SB-14, Block-M, North Nazimabad, Flat No.3, Al Waheed
        Centre, Karachi.

2.      NATURE OF BUSINESS That the nature of the partnership business shall be that of
        “MANUFACTURING, IMPORT, EXPORT& LOCAL SUPPLLY.

3.      DURATION
        That partnership shall be "AT WILL"

4.      FINANCIAL YEAR
        That the business of the firm shall be deemed have to commence from 15th October
        2010 and the first accounting year of the firm will close as on 30th June 2011 each year.

5.      PARTNERSHIP CAPITAL.
        That the capital of partnership shall be contributed by the partners hereto as and when
        required and in such proportion as mutually agreed upon. Any amount contributed
        towards capital will carry no interest. The partners shall be invested in initially of Rs.10,
        000 (Rupees: Ten Thousand Only) each.

6.      PROFIT/LOSS SHARING
        It is agreed between the partners that the profits/losses shall be divided among the
        partners in the following proportion.

        a)      The partners will share profits as under:
             i)      Party of the First part                 80%
             ii)     Party of the Second part                20%

      b)     The losses in Partnership will be borne by the partners as under:

             i)      Party of the First part                 80%
             ii)     Party of the Second part                20%

7.    MANAGEMENT

      a)     That business of the partnership will be managed by the partners as mutually
             agreed from time to time.

      b)     That all policy decisions relating purchase, sales, employment, operating of
             accounts, transactions, loans, hundies, overdraft, entering in any contract
             and/or joint venture with any other firm, company etc. or such allied matters
             relating to this partnership business will be taken by mutual consent of all the
             partners and where necessary.

8.    SIGNATORIES FOR OPERATING BANK ACCOUNTS AND OTHER DOCUMENTS

      a)     The above-mentioned partners of the firm shall operate the accounts of the
             partnership in banks and such account or accounts shall be operated upon by
             cheque drawn by any two or any one of partners of M/s. MEGA POLYMERS
             INTERNATIONAL.

      b)     Even bond, bill, note or other security or any document, lease assignment, sale
             deed etc., connected with the moveable or immovable property and given on
             account of partnership be signed endorsed, accepted or executed by the
             partners in the manner as in herein above provided for the drawing of cheques.

9.    DRAWING BY PARTNERS
      The partner will be allowed drawings as per mutual agreement and the same will be
      done after finalization of accounts on year-end i.e. after every 30 June each year.

10.   ACCOUNTS

      a)     Regular books of accounts will be maintained which will remain open for
             inspection to all the partners during working hours.

      b)     That the partnership accounts will be settled yearly (first accounting period
             being ending on 30th June 2011, thereafter 30 June each year) and after
             deduction of all expenses profits if any will be divided among partners in
              proportion to their shares in profit and in the event of loss, the same shall be
              borne by the partners in proportion to their share in loss.

11.    DISSOLUTION/WINDING-UP/RETIREMENT

       a)     That in the event of the death of any partner, the partnership will not stand
              dissolved but will continue and the heir or heirs of the deceased partner will
              succeed his share by will enjoy the same rights as if he was alive. The heirs
              will also be responsible for the liabilities if any of the deceased in the said firm.

12.    IDENTITY/INDEMNITY/ARBITRATION

       a)     That all the partners of M/S. MEGA POLYMERS INTERNATIONAL shall be
              indemnified against loss or damage incurred as a consequence of the act in
              good faith.

       b)     All disputes and questions whatsoever which shall either during continuance of
              the partnership or thereafter arise between the partners or the respective
              representative of any deceased partner touching these presents or applications
              thereof, on any account, valuation or division of assets, debts or liabilities to be
              made hereunder or any act, deed of commission of any partner or as to any
              other matter in any way relating to the partnership business or the affairs
              thereof or the rights duties or liabilities of any partner between themselves,
              and in the clause of tie, the same shall be referred to arbitration to be
              appointed by each partner in accordance with and subject to the provisions
              of the Pakistan Arbitration act or any statutory modification thereof, for the
              time being in force.

       c)     That it is expressly agreed that on partner shall seek assistance of courts of
              law without referring the dispute to the aforesaid arbitration.

13.    GENERAL

       a)     Henceforth no partner shall carry on any business in competition with the firm.

       b)     That are partners shall be true and just to each other.

       c)     That any matter not provided in this deed of the partnership shall be decided
              under the provision of Partnership Act, 1932.

       d)     That the contents of this deed have been fully understood by all the partners.

IN WITNESS WHERE OF the parties have set and subscribed their respective hands on this
partnership deed on the day month and the year first above mentioned.
SIGNATURES:


      1)_____________________________
      2)______________________
       as                  Mr. NUSHABA SHAHID
       Partner                                  Partner


WITNESSES


 1). ______________________
       2).____________________

				
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Description: Deed for starting a partnership business