PARTNERSHIP DEED
THIS INDENTURE OF PATNERSHIP DEED is made a nd executed at Ulhasnagar-1, District Thane, in the state of MAHARASHTRA, on this day of AUGUST, 2013,
BETWEEN:(1)
DR. ANIL HEROOR, PAN-AAPPH2552M, aged about 43 years, Occupation Medical Practitioner, Practitioner, inhabitant of Thane, hereinafter called as the PARTY OF THE FIRST PART .
(2) DR. SUNIL DIGAMBAR BHOSALE, PAN AAWPB4770A , Aged about 53years, Occupation Medical Practitioner, inhabitant of Anant layori Hospital, Kolsewadi, Kalyan (E). Ulhasnagar, hereinafter called as the PARTY OF THE SECOND PART.
(3) DR. AJAY KESHAV GAWALE, PAN, Aged about 56 years Occupation Medical Practitioner, inhabitant of Swastik Hospital , Kurla Camp , Ulhasnagar-4, Hereinafter called as the PARTY OF THE THIRD PART AND
(4) DR. AMBADAS ANANT RODE, PAN, Aged about 54 years Occupation Medical Practitioner inhabitant of Dombivali, Hereinafter Hereinafter called as the PARTY OF THE FOURTH PART .
WHEREAS, the parties here-into have agreed upon to do business in partnership in Medical Practice, Laboratories and Diagnostic Centre and as such any other business as may be agreed upon by and between the parties hereto have decided to reduce in writing the terms and conditions under which they have agreed to carry on business in partnership.
NOW THIS INENTURE AND it is hereby agreed by and between the parties hereto Follows :-
1. That the business of the partnership Firm shall be that as Medical Practice, Laboratories, Diagnostic Centre and as such any other business as the parties from time to time agree upon. 2. THAT the partnership business shall be carried in the same name and style of M/S. MAMTA HEALTH CARE , and/or under such any other name or names as the parties hereto may be mutually agreed upon.
3. THAT in respect of the business place of the firm it is decided by and between the partners hereto that the Head Office of the Firm would be at: ______________________________________, Ulhasnagar -1, PIN-421 103, AND Branch Office at: ______________________, or at any place or places as may be mutually agreed upon by parties. st
4. THAT the Partnership Business shall be deemed to be commenced with effect from 1 day of AUGUST, 2013 (01/08/2013) and duration of the partnership “ AT WILL” of the parties hereto.
5. THAT the regular Books of Accounts shall be maintained in respect of the partnership and Account shall be closed annually observing Financial Year and a statement of al assets and liabilities and profit and loss Account shall be prepared and the net profit or Loss of every year shall be divided among or borne by the parties hereto as under;
(I) (II) (III) (IV)
DR. ANIL HEROOR DR. SUNIL DIGAMBAR BHOSALE DR. AJAY KESHAV GAWALE DR. AMBADAS ANANT RODE
25% 25% 25% 25% 100% 6. THAT the Account of partnership in Bank/Banks shall be opened at any Bank or Banks and the same will be operated as mutually agreed by and between the parties hereto.
7. The fix Capital of the partnership Firm Shall be RS.50,000/- (Rupees Fifty Thousand Only) and further, if required , the capita will be contributed by all or any of the partners hereto as mutually agreed upon and additional arrangement of the loans, Funds or Extra Investment will be decided mutually by and between the parties hereto. 8. It is agreed by and among the parties hereto that all the partners shall be entitled to have interest at the rate of 12% per annum on the amounts standing to their respective capital , loan, deposit or current Accounts or at such higher rate as many be allowed under section-40(b) of Income Tax Act-1961 or at any Lower Rate as may be mutually agreed upon by the parties/partners consideration the need of the business, financial position of the business of the firm or for any other reasons which they may think proper. 9.
It is also agreed that if there be debit balance in the account of any partner/partners, interest at the rate of 12% per annum or such any other rate, as may be mutually agreed upon by the partners shall be payable to the firm by him/them.
10. It is hereby agreed that all the partners are working partners and are actively engaged in conducting the affairs of the business of the firm and are entitled to receive remuneration/salary from the commencement of the Partnership Business. 11. The total remuneration payable to all the partners shall be worked as under; On the first Rs. 3,00,000/- of book
@90% of the book profit or Rs.
Profit or in case of a Loss
1,50,000/- whichever is more.
On the balance of book profit
@60% of the book profit
EXPLANATION : For the purpose of this clause the expression “ Book Profit” as defined in section 40(b) of the income Tax Act, 1961 or any statutory modification or re-enactment thereof for the time being inforce.
Such total remuneration shall be paid to the partners as follows:(I) (II) (III) (IV)
DR. ANIL HEROOR DR. SUNIL DIGAMBAR BHOSALE DR. AJAY KESHAV GAWALE DR. AMBADAS ANANT RODE
25% 25% 25% 25% 100%
The remuneration payable to the working partners as above, shall be credited to their respective account or ascertainment of books profits.
st
12. The accounts of the partnership Firm shall be taken annually on 31 March every year and profit and Loss Account and balance sheet shall be prepared and accounts of the partners shall be adjusted as per clause No.5 of the partnership Deed.
13. That the partners may carry on any business over and above this partnership business in his individual capacity and/or in partnership with other which will not in any way affect interest/profitability of this partnership concern.
14. Not-With-standing any thing stated or provided herein the parties shall have full powers and discretion to modify, alter or verify the term and conditions of the partnership Deed in any manner what-so-ever they think fit, by mutual consent, which shall be reduced into writing and be signed by all the partners and thereupon the said writing shall become appendage and part of this Deed. 15. The right and obligations of the parties hereto shall be governed by the Indian Partnership Act and any o9ther law of the time being in force regularising the same. 16. THAT the partners shall attend diligently to the partnership for the best advantage of the partnership Firm 17. That the partners shall be entitled to withdraw money out of the Partnership business with mutual consent of remaining partner. 18. That no partner shall enter into a bond or become a bail or surety or per-security for any person whereby the partners property or any part thereof may be sized or attached or taken into execution. 19. That no partner shall take any loan in the name of the firm except with the concept of all partners. And the same amount of loan will be utilized in the Business/interest of the firm. 20. All account books relevant papers, files, registers, vouchers and correspondence including the bill and vouchers for payment and receipt thereof, of the firm shall be kept at the place of the firm. 21. That the partner shall be faithful to each other in transaction related to the partnership and shall at all times give just to each other and faithful accounts of the same and also upon any responsible partner shall furnish the full and correct explanation thereof to each other.
22. Any partner of the partnership firm will be entitled to represent the firm and other partners in connection with the business and affairs of the firm before any income tax sale tax, Central, Excise, State Government or semi- Government Officer or authorities and before Court, Tribunal, Magistrate or any Government or semiGovernment or Municipal or Local Bodies/Authorities or officer or before any Company, firm or person will be entitled to sing, execute and do such acts, deeds and things, as may be required for the aforesaid purpose for and on behalf of the firm and other partners and they shall be executed and done by all the partners had authorized such partner to do and each of the parties hereto hereby appoint aforesaid acts, deeds, and things. 23. All disputes and difference and questions whatsoever which shall either during the partnership or afterwards arise between the partner or their respective representatives of the other touching these presents or things herein contained or any account of assets, debts or liabilities to be made or as to any way relating to the partnership Business or the affairs thereof the duties of the liabilities or any person under this present shall be referred to a single arbitration in case the parties agreed upon one or otherwise two arbitrators or one to be appointed by cash party to the difference in accordance with the subject to the Indian Arbitration Act-1940 or any statutory modification thereof for the time being in force. 24. Death, Retirement or Insolence of any partner shall not dissolve the firm and the remaining partners shall be entitle to continue the business of the firm as before subject to the determination of share of the deceased, retired or insolvent partner as the case may be.
25. If any partner desire to retire from the partnership Firm shall have to give three-(3) months prior Notice to that effect of his retirement.
IN THE WITNESSES WHEREOF THE PARTIES HERE TO HAVE SET SUBSCRIBED THEIR RESPECTIVE HANDS TO THIS DEED OF PARTNERSHIP ON THE DAY, MONTH AND YEAR MENTIONED HEREINABOVE IN PRESENCE OF THE WITNESSES:
SIGNED, SEALED AND DELIVERED
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BY THE WITHINNAMED
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DR. ANIL
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HEROOR
IN THE PRESENCE____________________
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_____________________________________
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DR. SUNIL DIGAMBAR BHOSALE
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IN THE PRESENCE____________________
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_____________________________________
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DR. AJAY KESHAV GAWALE
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IN THE PRESENCE____________________
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_____________________________________
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DR. AMBADAS ANANT RODE
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IN THE PRESENCE____________________
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_____________________________________
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WITNESSES : 1) 2)
