Deed of Partnership

This deed of partnership is made on [Date, Month, Year] between:

1. [First Partner’s Name], [Son/Daughter] of [Mr. Father’s Name], residing at

[Address Line 1, Address Line 2, City, State, Pin Code] hereinafter referred to as
FIRST PARTNER.
2. [Second Partner’s Name], [Son/Daughter] of [Mr. Father’s Name], residing at
[Address Line 1, Address Line 2, City, State, Pin Code] hereinafter referred to as
SECOND PARTNER.

Whereas, the parties hereto have agreed to commence business in partnership and
it is expedient to have written instrument of partnership. Now this partnership deed
witnesses as follows:

1. BUSINESS ACTIVITY

The parties here to have mutually agreed to carry on the business of providing
services specially in the field of retail and wholesale medical pharma business The
parties hereto agree to carry on the business herein mentioned in partnership on
the terms and conditions herein mentioned, in the name and style of M/s.
____________________..
 a. The type of trading will be retail and wholesale dealing in medicine include
all type of medicine, medical devices and instruments and other health
services

b. Above mentioned firm will start or engaged in any type of business with the
mutual consent of both the partners of above firm

2. PLACE OF BUSINESS

The principal place of the partnership business will be situated at [Address Line 1,
Address Line 2, City, State, Pin Code]

3. DURATION OF PARTNERSHIP

The duration of the partnership will be at will.

4. CAPITAL OF THE FIRM

Initially the capital of the firm shall be Rs. 5,60,000/- in words (Rs. Five lakh sixty
thousand )

Total Contribution of first partner for business startup expenses which will be
require necessary for preliminary process and second partner agree to provide his
shop for commencement of business without any charge it will free to used till this
partnership exist and work as operational partner and devote his whole time to
established business .

5. PROFIT SHARING RATIO

The profit or loss of the firm shall be shared equally among all the partners and
transferred to partner’s current account

The net profits and losses of the firm will be shared by the partners hereto in equal
shares or proportion. Net profit will mean the gross profits earned in such year less
the expenses of the management of the business including the rent of the premises
of the firm. the outgoings in respect of the salaries and wages of the staff.
commission paid to others interest payable on the amounts advanced by the Party
of the Second Part and by other creditors if any and all other expenses incurred In
connection with the business and allowable as deduction under the Income Tax Act.

All the tangible and intangible assets of the Firm Including the goodwill, stock-
in-trade, benefit of business licenses and permits, benefits of contracts entered etc.
will belong to the parties in equal shares but subject to the debts and liabilities of
the Firm and the property of the Firm shall be used by the parties exclusively for the
business of the firm

6. MANAGEMENT

The [second Partner] of the firm shall be Managing & working Partner and he will
look after all the day to day transaction of the firm and any legal activities in the
name of the firm and the first partners shall co-operate to do so.

7. OPERATION OF BANK ACCOUNTS

The firm shall open a current account in the name of [Partnership Firm Name] at
any bank and such account shall be operated by [First Partner] and [Second
Partner] jointly as declared from time to time to the Banks.

8. BORROWING

The written consent of Partner will be required for the partnership firm to avail
credit facilities from any financial institution or private loaning for markrt.

9. ACCOUNTS

The firms shall regularly maintain in the ordinary course of business, true and
correct accounts of all its transactions and of all its assets and liabilities, the
property books of account, which shall ordinarily be kept at the firm’s place of
business. The accounting year shall be the financial year from 1 st April onwards and
the balance sheet shall be properly audited and the same shall be signed by all the
Partners. Every Partner shall have access to the books and the right to verify their
correctness.

10. RETIREMENT / RESIGNATION

If any partner shall at anytime during the subsistence of the partnership be desirous
of retiring from the firm, it shall be competent from his to do so, provided he shall
give at least one calendar month notice of his intention of doing so.

The remaining partner shall pay to the retiring partner or his legal
representatives of the deceased partner, the purchase money of his share in the
assets of the firm.

If by any reason partnership between both the parties come to end both the
partner no 1 & 2 Not carry on any business similar to the business of the Firm or any
other business anywhere without the consent of the other partner/s or up to six
month in the state of Maharashtra

11. DEATH OF PARTNER

In the event of the death of any partners, one of the legal representatives of the
deceased partner shall become the partner of the firm and in the event the legal
representative show their denial to point the firm, they shall be paid the part of the
part of the purchase amount calculated as on the date of the death of the partner.

12.REGISTRATION

The parties shall as early as possible but in any event within the prescribed period
get the Firm registered under the Partnership Act, 1932 and the Income Tax Act.
1961.

13.DISSOLUTION
When the partnership is dissolved an account of the assets and property and list will
be made up to the date of dissolution and out of the assets in specie or by sale
thereof all debts and liabilities including the loan advanced by the Party of the
Second Partner will be paid In priority and if any balance will remain the same will
be shared by the Parties hereto in equal shares

14.ARBITRATION

Whenever there by any difference of opinion or any dispute between the partners
the partners shall refer the same to an arbitration of one person. The decision of the
arbitration so nominated shall be final and binding on all partners, such arbitration
proceedings shall be govern by Indian Arbitration Act, which is in force.

15.OTHER

Subject to what is otherwise provide herein, each of the partners- hereto shall

a. Participate and attend to the business of the firm to the greatest common
advantage of the firm.

b. Be just and faithful to each other.

c. Render true accounts and full information of all moneys affecting the Firm to
the other.

d. Indemnify the Firm for any loss caused to it by willful negligence or fraud in
the conduct of the business.

e. Not carry on any business similar to the business of the Firm or any other
business anywhere without the consent of the other partner/s.

f. Attend to the business of the Firm diligently and actively.

g. Not withdraw any amount for his own profit, benefit or use as remuneration
or otherwise without the consent of the other.
 h. Be entitle to be assure by the Firm in-respect of payment made and liabilities
incurred by him- (i) in 'the ordinary and proper course of business of the
firm and (ii) in doing any act for protecting the Firm from loss in emergency.

In witness whereof, this deed of partnership is signed sealed and delivered this
[Day, Month, Year] at [City, State]:

FIRST PARTNER SECOND PARTNER

[Address Line 1] [Address Line 1]

[Address Line 2] [Address Line 2]

[City, State, Pin Code] [City, State, Pin Code]

WITNESS ONE WITNESS TWO

[Address Line 1] [Address Line 1]

[Address Line 2] [Address Line 2]

[City, State, Pin Code] [City, State, Pin Code]