PARTNERSHIP DEED

THIS DEED OF PARTNERSHIP IS MADE ON between:

1. S/o age 27, residing at , party of the first part

2. S/o , residing at , party of the second part

[hereinafter called partner(s)]

WHEREAS all the aforementioned parties have mutually agreed to carry on the business of
trading of printing media under the name and style of

And whereas all the parties hereto mentioned above agreed to enter in to a new partnership
business with its head office situated at NO. 161/C, Ground floor, 3rd Main JHBCS Layout,
Padmanabhanagar, Bengaluru - 560070 under the name and style of

And whereas all the parties hereto mentioned above are major and of sound mind.

The terms and conditions agreed to by and between the parties hereto witnesses:

1. That the name and style of the firm shall be and the partnership shall
carry on the business of trading of printing media and/or any business and/or trade as
the partners, may from time to time determine;

2. That the office of business of the partnership firm shall be and/or any
other place(s) as the partners may, from time to time, determine;

3. That partners shall enter in to engagements or transactions on behalf of the firm’s

4. That both the party mentioned above i.e., shall be working partners
and shall attend to the business activities of the firm diligently and honestly and with
their proper duties of work as the partners may, from time to time, determine by their
mutual consent;

5. That both the partners will be authorized signatory of the Firm and they will sign all the
documents, etc. of any type, in regard to the business of the firm or for the smooth
running of business of the firm. They will also sign the required document for obtaining
any permission/NOC etc. from any Government/Private department on behalf of the
firm;

6. That this deed shall come in to force w.e.f;

7. That the duration of partnership shall be at “WILL” and can be dissolved at any time as
may be decided by the partners;
8. That the capital of the firm initially is only which has been contributed by the partners
as follows:

i. , party of the First part Rs.

Further partners shall contribute capital according to the needs of the business as may
be mutually agreed upon. Partners shall be entitled to receive interest on the capital
invested or any other sum that may be introduced hereinafter in the partnership
business at the rate of 12% P.a.

9. That the net profit or losses, as the case may be, of the partnership business shall be
shared by all the partners as under-

i. , party of the first part 50%

10. That both the partners are the working partners and may draw salary, remuneration
and or commission for working in the partnership firm as agreed upon between the
partner. However, the aggregate of remuneration payable to the working partners shall
be proportionately restricted to an amount which shall be worked out as under:

a. In respect of book profits of the firm up to Rs. 3,00,000/-, 90% of such profits.
b. In respect of the book profits exceeding Rs. 3,00,000/-, 60% of such profits.

Provided, however, in case of the book profits not exceeding Rs.1,50,000/-, the whole
of such profits may be payable as remuneration to the working partners;

Provided further, that in case of the book profits exceeding Rs.1,50,000/-, the working
partners may be paid a minimum aggregate remuneration of Rs. 1,50,000/-;

Provided further, that in case of no book profits or in case of a loss, the partners may,
if so mutually agreed upon by both partners of the firm, draw an aggregate
remuneration of an amount not exceeding Rs. 1,50,000/-;

For the purposes of the above computation, “book profits” shall mean ‘book profits’
as defined in Explanation 3 to Section 40(b) of the Income Tax Act, 1961, or any other
relevant provision that may be applicable for the assessment of the partnership firm for
the relevant accounting year;

11. That the accounts of the partnership business shall be closed on 31 st Day of March
each year when a profit and loss account and balance sheet shall be prepared and the
net profit or losses, as the case may be, of the partnership business, will be divided or
born amongst partner in the manner indicated above;

12. That the partner shall maintain proper books of accounts which shall be kept at the
place of work for the time being and every partner or his/her duly authorised
 representative shall have access to and power to take copies of the same at all
reasonable times;

13. That an account may be opened in any scheduled Bank in the name of the firm, which
shall be operated upon by both the partners on behalf of the firm;

14. That no partner, without the written consent of the all the other partners shall do or
abet in doing any of the following acts:

a. Sell, mortgage, assign or otherwise transfer his share or interest in the

b. Charge, mortgage, hypothecate, assign or otherwise transfer the business,

15. That no partner shall hypothecate, pledge or alienate in any manner, any property of
the firm for raising any loan or to create any liability in his/her personal capacity for
his/her personal purpose;

16. That no partner shall be responsible for the personal debts of the other partner;

17. That the partners shall be just and faithful to each other in all transactions and at all
times be responsible to give the other a true and faithful account of the affairs of the
partnership;

18. That the partnership shall be deemed to be continuing on the admission of a fresh
partner or partners, provided the admission is on the terms herein laid down and is
approved by all the partners;

19. That every partner shall be entitled to dissolve the partnership in the event of the other
committing breach of the conditions herein covenanted. The partnership may be
dissolved by a notice in writing sent by registered post to the address herein given. On
the dissolution of the firm under this clause the expelled partners shall not be liable for
any loss incurred as from the date of dissolution. But no profit or loss shall be paid or
become payable except at the time of annual accounting;

20. That any partner desiring to retire from the partnership business shall be required to
give three months’ notice in writing to the other partner of his intention to retire. On
dissolution of the firm the assets and liabilities shall be determined and the retiring
partner shall be paid the share found to his credit;

21. That, if at any time any dispute, doubt or question shall arise between the partners, or
their representatives either on the construction of these presents, or respecting the
accounts, transaction, profits or losses of the business or otherwise in the relation to
the partnership then every such dispute, doubt or question shall be referred to
arbitrators chosen by each of the partners and the representatives of their umpire to be
appointed in the manner provided by law and such reference shall in all respect, as to
 the mode and consequence thereof conform to the provisions in that behalf contained
in the Arbitration and Conciliation Act, 1996 or any statutory modification thereof;

22. That the partners may, by mutual consent, from time to time alter, add to, change,
amend or delete any of the above provision;

23. That all other matters for which no provision is made in this deed shall be governed by
the Indian Partnership Act 1932.

In Witness whereof, all the parties hereto mentioned above have put their signatures hereto
this day and year first mentioned above

Witnesses

1.
1. Party of the First part

2. 2.
Party of the Second Part