Deed of Partnership - India

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					                       DEED OF PARTNERSHIP

THIS DEED OF PARTNERSHIP (hereinafter referred to as „the Deed‟) is made at______, on
this _____ day of _______, 20_____, BY AND BETWEEN:

(1) Sh./Smt. ___________ aged about _______ years, son/daughter/wife of Shri ___________,
residing at _____________________________ (hereinafter called the „First Party‟);

(2) Sh./Smt. ___________ aged about _______ years, son/daughter/wife of Shri ___________,
residing at _____________________________ (hereinafter called the „Second Party‟);

(3) Sh./Smt. ___________ aged about _______ years, son/daughter/wife of Shri ___________,
residing at _____________________________ (hereinafter called the „Third Party;);

[Remove/ Add extra names]


WHEREAS the parties hereto have expressed their desire to enter into the business of
_____________________________;

AND WHEREAS in order to accomplish their aforesaid desires, the parties hereto (hereinafter
referred to as „Partners‟) desire to join together and form a partnership firm („Partnership‟) under
and pursuant to the Indian Partnership Act, 1932 as amended from time to time.


NOW THEREFORE the Partners hereto agree as follows:


1) PARTNERSHIP

The Partnership shall commence its business on the ___________ day of ______________,
20____ and shall continue for a term of ____ years.

                                              OR

The Partnership shall commence its business on the ___________ day of ______________,
20___. The duration of the Partnership shall be “At Will” i.e. for an indefinite period unless it is
determined.


2) NAME AND STYLE

The business of the Partnership shall be carried on in the name and style of
M/s._____________________. The Partners by mutual consent may carry on business in such
other name or names as they may deem fit and proper from time to time.


Deed of Partnership                                                                            1
3) PLACE OF BUSINESS

The principal office and place of business of the Partnership firm shall be located at
_____________________. The Partners by mutual consent may carry on business at such other
place or places as they may deem fit and proper from time to time


4) BUSINESS

The     Partnership    hereby formed         shall   carry on       the    following business:
________________________. The Partners may by mutual consent carry on business in such
other nature or natures, as they may deem fit and proper from time to time

All transactions of the firm shall be made under the name of the Partnership and all goods shall
be purchased or sold in the firm name only. All the bills, vouchers, delivery notes, receipts, etc.
shall be issued in the name of the firm.


5) INITIAL CAPITAL

The initial capital of the Partnership shall be Rs. ____________ which shall be contributed by
each of Partners in the following proportions:

First Party:          _____%          Rs.___
Second Party:         _____%          Rs.___
Third Party:          _____%          Rs.___


6) FURTHER INFUSION
If any further capital or infusion of funds is required by the Partnership, the Partners shall bring
in additional capital. Any such additional capital brought by the Partners shall be treated as loan
to the firm and the Partners are entitled to receive interest @ ______ % p.a. out of the gross
profits of the firm.

OR

If any further capital or infusion of funds is required by the Partnership, the Partners will
contribute such further amounts towards the capital of the firm in equal shares as may be
required. If any partner shall contribute more amount than his share in the capital it will be
treated as a loan by it to the Partnership carrying interest at the maximum rate allowable as
deduction under the Income Tax Act.


7) ASSETS



Deed of Partnership                                                                            2
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DOCUMENT INFO
Description: This is a deed entered into by more than one persons to enter a new business venture as Partners . This sets out the rights of each partner in the partnership business.
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