India Partnership Deed by Megadox

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Establish the terms of a partnership in India with this ready-made Partnership Deed template.
- Management. One of the partners will be the managing partner and will conduct the partnership’s affairs.
- Capital Contributions. The partners will contribute additional funds to their respective capital accounts as required by the partnership business.
- Interest. Interest will be paid on the capital and/or loan accounts of the partners. If a partner’s capital account has a debit balance, the partner will pay interest to the partnership at an agreed rate.
- Profits and Losses. Net profits will be distributed among the partners in proportion to their capital contributions. Losses will be allocated on the same basis.
- Personal Debts. Each partner agrees to pay his separate debts and to indemnify the other partner(s) and the assets of the partnership against such debts.
- Death or Retirement. No goodwill will be payable on the death or retirement of a partner.
- Dispute Resolution. The parties agree to binding arbitration in the event of a dispute.
This India Partnership Deed template is available in MS Word format, and is fully editable to fit your particular circumstances.

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									                            PARTNERSHIP DEED (INDIA)


THIS DEED OF PARTNERSHIP made effective at ____________________________________
[location], as of the _____ day of ______________________, _______.

BETWEEN:

                                    [NAME OF PARTNER A]
                                  an Indian inhabitant residing at
                                             [address]
                                          (“Partner A”)

                                             - and -

                                    [NAME OF PARTNER B]
                                  an Indian inhabitant residing at
                                             [address]
                                          (“Partner B”)

                                  (Collectively the “Partners”)


WHEREAS the parties hereto have expressed their desire to join as partners and carry on business in
partnership (the “Partnership”).

NOW THEREFORE the parties hereto agree as follows:

1.     The Partnership shall commence its business on the _________ day of
       __________________________, ___________. The duration of the Partnership shall be “At
       Will”.

2.     The Partnership shall be carried on under the name and style of M/S.
       ___________________________________________, and/or such other name(s) as the Partners
       may agree upon from time to time.

3.     The Partnership shall be carried on at __________________________ [location], or at such other
       location(s) as the Partners may from time to time decide.

4.     Partner A is a working partner and is actively engaged in conducting the affairs of the
       Partnership, and therefore shall be entitled to a yearly remuneration in the amount of
       __________________ Rupees (Rs._____________) per annum.

       The yearly remuneration payable to Partner A shall be credited to his account at the close of
       the accounting year when the final accounts of the Partnership are made up.

       Partner A shall be entitled to draw the above yearly remuneration only after the end of the
       relevant accounting year. However, nothing herein contained shall preclude either Partner
       from withdrawing any amount from the Partnership against the amount standing to his
       capital and/or current or loan account, or his share of the profit for the relevant accounting
       period in such manner as may be decided by the Partners by mutual consent.

5.     The credit balance in the capital accounts of the Partners as on the ___________ day of
       _____________________________, ____________ shall be treated as their capital and the
                                                 -2-


      additional funds required for the purpose of the Partnership shall be introduced or
      contributed by the Partners in such manner as may be mutually agreed upon.

      The simple interest at the rate of _______________ percent (_________%) per annum shall be
      payable by the Partnership on the amount standing to the credit of the capital and/or current
      or loan accounts of the Partners. If there is any debit balance in the account of either Partner,
      interest at the rate of _________________ percent (__________%) shall be payable by him to
      the Partnership.

6.    The net profit of the Partnership as per the accounts maintained by the Partners after
      deducting all expenses relating to the business activities of the Partnership (including, but not
      limited to, rent, salaries and other establishment expenses) shall be divided and/or
      distributed between the Partners in the following proportions:

      Partner A shall receive _______________ percent (_______%) share of the profit

      Partner B shall receive _______________ percent (_______%) share of the profit.

7.    Any losses suffered by the Partnership, including the loss of capital, shall be apportioned in
      accordance with the proportions set forth in Section 6 hereina
								
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