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PARTFIERSHIP DEED OF *AKSHAR INC 6'

.. This agreement of Partnership is made on this 27"d April2Ol5 amonpg

I
1) Mr. Ketankuhar Amrutlal Patel" agg 38 Years, residing at- A-28,Rukhmani Nagar Society,
H New Sama Road, Vadodar4390008.
PAI\I NO. AICPP6882F
H
6-'V
H FOT AKSHAR INC
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Partner
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 2) Mr.IGmleshkumar Bhikhabhai Patel, age 40 years, 24, Mamti Nandan Society, T P13 Chhani
Jakat, Nr Temple, Vadodara-390002
PAIY NO.

3) Mr Vipulkumar Jamnadas Dharsandrp , age 38 years, residing at 4)l,Kishan tlarm ony,2l

Rajnagar Society, Akotq NearAkota SAdiunL Vadidara -390008
PAN NO. ACAPD9321M

(Alr major and hereinafter referred to as "Parhers 'Vhose expression shall mean and
include their, successors, exeoutors, administrators and legal assig4ees. )

Whereas the parties hereto, have decided to carry on Partrrership business from 2Ze April
2015 for the purpoJe of doing business at Vadodara in the firm name and style of "Akshar INC"
/' ' OF CONSTRUCTION OF Housing Complex and Land Development on the terms and
conditions agreed to by and between the parties hereto.

1) NAME: The name of tle Partnership Firm shall be "Ahshar INC" other name(s) as may be
mutuallydecided by the partners from time to time.

2) Place: The principal place of business of partnership shall be at "Akshar

INC" "A-28, Rukshmani Nagar Society, New Sama Roa4 Vadodara 390008 and or at such
place(s) an may be mutually agreed betrveen the partners. The Partnership Finfr many change
its place ofBusiness andlor open its branch(s) at any place(s) with mutual consent of
partneN.
3) Obiects: The business ofthe partnership shall be that of Construction ofHousing Complex
and Land Development and it is being agreed the partners may do such other business as may
be mutually agreed upon by the partners from time to time.

4) Commencement: This Partnership has come into existence irom27hApril20l5 and

accordingly this partnership shall be deemed to have been commenced from the said date.

5) P.S.Ratio: The Profits and Losses of the partnership business including the ioss of capital if
any, after providing tom Remuneration to the partners as per ParaNo. l5 and interest on
capital as per ttre Para No. I 6 of this deed, shall. be divided. and bome by all partners as
fotlow.

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For AKSHAR INC

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 Partner's Name Share

Mr. Ketankuman Alnrutlal Patel 37.5

Mr.Kamleshkumar Bhikhabhai Patel 37.5
Mr Vipulkumar Jamnadas Dharsa-ndia 2s.a

t00%

6) Capital: The partners as may be mutually agreed upon bi them shall contribute to the capital
of the partnership {irm. The parhrership can raise loans or deposit from their relatives, friends'
of outsiders at mutually agreed rate of interest.
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'
7) Duration: The partnership shall be AT will and will continue so land as the partners may
desire. In case any partner should desire to retire from the said partnership he shall give three
months' notice in writing to other parmer or in any other manner as rnay be mutually agreed
by the partners-

8) DeathlRetirement & Goodwill: On the Retirement or death of any Partner or on Dissolution

of the firm, the goodwill of the firm shall be treated as NIL. In the event of the death of any
party to this deed, this partnership shall not be dissolved but the legal heir(s) ofsuch deceased
partner shall be admitted to this partnership in place and instead ofsuch deceased parlner.

q) Agggg4g41!93g Proper and regular book of account shall be maintained regarding all the
transaction relating to the partnership business. On 31"Mafch of every year a statement of
profit and loss and the balance sheet as on that date be prepared after appropriating the net
hofit/Loss as mentioned above. The first account year of this newly constituted partnenhip
shall be from 276 April 201 to 3l't Mar 2016.

10) Bank Accounts: Bank Account(s) in the name of the Partnership firm shall be opened with
any Bank(s) and shall all the cheque(s) and other instruments(s) shall be signed by any one
L) partrcr fronU Mr. Ketankumar Amrutlal Patel , Mr.Kamleshkumar Bhik'habhai Patel
Oi Mr Vipulkumar Jamnadas Dharsandia.

11) Rightsq All ihe partners or his/her authorized agen(s) qhall have access to the books of
accounts and shall be entitled to take copies or extrait there from-

12) Dutbli All the partners shall devote fi.rll time attention to the affairs of the firrn. The
activities shall be collectively carried out by the partners, and each partrer shall spare no
. effort in solving the problemVtrindrances that the firm may facg AND shall;

a) Cdrry out the business to the greatest common advantage of the firm
b) Be just and faithful to ottrer parurer and shall render the true accounts and full
information regarding the business of the firm to other p4rtner

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For AKSHAR INC
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 c) Pay his sepfiate and private debts and shall indemnifrother paftEr and firm against all
proceedings, claims or demands in respect thereof.
1 3) Restrictious: NgSe of the partnen without the consent of the other partner shall;

t:

a) Shall not utilize the assets of the"firm.for his personal beneflt

b) Assigt, sell mortgage or change ltis/trer personal share the assets or profits of the fimr to
any other.
c) Lend money belonging to the frmr to an outsider except in the ordinary course on
bnsirpss. &

d) Raise loan in the name of partnenihip firm.

i
14) Withdfawal: All the partrers are permitted to dralv reasonable sum ofmohey to meet their
personi'l expenses. Any unusual withdrawal stratt Ue done only with the consent of other
_ partner.
J

15) Salarv to Partners: The partners of this firm are working partners and shall pay their

t
attention to the affairs of the firm. All partners shall be entitled to remuneration as per the
following method of computation.

Method of Computation

a) The total remuneration of the parties hereto shall not exceed the limits laid down under
the provisions of sections 40(bX2) of the Income Tax Act, 1961. For the sake of
clarification the limits as laid down by the above said section is as under:

A) For first Rs. 3,00,00/- of the book-profit or in the case of a loss; Rs. 1,50,000/- or at
the rate of 90%o of the book-profits, whichever is more; :
B) On the balmce of book-profit, at the rate of 60% of the book-profit;

{} It is further agred bythe parties hereto that any amendments made in the Income Tax
Act, 196l or any limits mentioned above shall automatically get altered without having
any amendment necessary in the padnership deed.

b) It is firther agreed to between the parties hereto that if the total amount ofremuneration
computed above is less than Rs- 1,50,000/- for the year, the total remuneration payable
shall be Rs. 1,50,000 or such lower sum as many be agreed by the parties hereto.

c) Theyearly Remuneration payable to the above parhers shalt be due to and credited to
their respective accounts at the close ofthe accounting year whpn the final accounts of
the partrrership are made up and the amount of,the remuneration due to them is .

determined. However, the remuneration so determined shall be deemed to have accrued

evenly during the year on a month to month basis. The remuneration as computed abcive
dividd
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shall be as follow.

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For AKSHAR INC
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Pa'rtner
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Mr. Ketankumai Arirrutlal Patel 37.5
Mr.IGmleshkuniar Bhikhabhai Patel' 37.5
Mr. Vipulkumar Jamnadas Dharsandia 25.0

100Yo

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16) Intereqt ofPartners: The capital ofeach paltner shall be entitled to an interest atthe rate of
V 12% p.a or such rate as may be prescribed in section 40(b) W) of the Income Tax Ac! I 96 I
and other applicable rules. The interest shall be payable at the end ofthe year.

Bug if the net ta4able income of the firm after providing the interest on capital as
aforementioned is loss or is less than the amorrnt of interest calculated above then the
' partlers by mutual agreemont may provide for waiver of interest or for the payment of
interest on capital at a lower rale.

17) Alteration: Any addition, variation or alteration in the terms and conditions of the
parhership deed may be made in writing by the parties hereto without drawing up a fresh
partnership deed in that matter.

18) Arbitration: Any dispute or difference that may arise amongst the partrrers or their
representative(s) about the interpretation ofthis deed accountg,'rights and liabilities or any
other matter whatsoever touching t}le partnership affain shall be referred to an arbitrator
agred upon by all the partners/their legal representatives, who shall'adjudlcate in accordance
with the provisions ofthe Arbitration and Consolidation Act, 1996 anil his decision shall be
final and binding to all the parties hereto.
.)
19) Simine Authority: it is further agreed between all the partners/parties hereto that
. MrXetankumar Amrutlal Patel authorized to execute any agreement to sale, sale deed,
construction agreement and/or any other documen! pertaining to propertyfland or part
. thereof, owned by partnership firm.

This partrrership deed is drawn on a stamp paper of Rs. 500/- issued by a stamp vender on
Z7d aprit 2015 atVadoda.ra bearing Sr. No. '
S-L AKSHAR INC
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Signed and delivered by within named Sigt

Mr. Ketankurnai ahrutlal Patel

Mr.Kamlesbkuilar Bhikhabhai P4tel'

4
Mr. Vipulkumar Jamnadas Dharsdndia (4--V
Presence of I

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PRTNERSHIP DEED OF Akshar INC D 27-04-2015

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For AKSHAR INC

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ARAT K 011122
or.aojylq / *r.
REG. S.R. NO. tT.-q--*- PP',-
; NAME : i2,Ys" {
ADD. : ( ,t O li,ft.rt lq ql9)
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NAME & ADDIIESS
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i VAR.SEIA V. SHELSiIS
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Opp. Sargam Appt., (Stamp Vendors'Sign.
t fl Piramitar Road, Licence No. 912003
Dandia Bazar, Vadodara. Vadodara.)
R800. SR, tJo,

P ERSHIP D EED OF 1[KSHAR lNc" Dal:

I i.l0

This aqreement of partnership is made on this 30th April

201g amongst;
1 Mr. Ketankumar Amrutlal patet, age 3g years, residing at -A-
E
28, Rukhmani Nagar society, New sama Road, vadodara,39oo0c.
PAN Np. AtcPP6882F
2 Mr.Kamteshkumar Bhikhabhai patel, age 40 years, 24, Maruti Na,rian
Societf,, T P-|3 Chhani Jakat, Nr Tempte, Vadodara-390002
PAN NO. AMYPPO492K
h
3 Mr Viptlkumar Jamnadas Dharsandia , age 38 years, residing at 4A!,
Kishari
Harmopy, 21 Rajnagar Society, Akota, Near Akota Stadium, Vadidara
39OOOS PAN NO. ACAPD9321M
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FOT AKSHAR INC
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(All major and hereinafter referred to as "Partners "whose expression .shall

mean and include there, successors, executors, administrators and legal
assignees. )

Whereas the parties hereto, have decided to carry on Partnership business

from 30th April 2018 for the purpose of doing business at Vadodara in the
firm name and style of "Akshar lNC"
OF CONSTRUCTION OF Housing Complex and Land Development on tlre
terms and conditions agreed to by and between the parties hereto.

1. NAMF: The name of the Parthership Firm r lNC" other

name(s) as may be mutually decided by m time to
time.
l

2. PLACE: The principal place of business p shall be at"Akshar

i\ ,r

lNC" 'A-28, Rukshmani Nagar Society, New Sama Road, Vadodara 39{)008
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il, \2\ , and or at such place(s) as may be mutually agreed between the partrrers.
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'l*l ')f.he Partnership Firm many change its place of Business and/or open its

"i' :iY ' branch(s) atany place(s) with.mutual co'nsent of partners.

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3. OBJECTS: The business of the partnership shall be that of Construction of

l
Housing Complex and Land Development and it is being agreed the
.
partners may do such other business as may be mutually agreed upon by
:
the partners frop.li.ryejo time.
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ii 4. COMMENCEMENf'I..[ig:iartnership has come into existence from 39ilr
-i
il April 2018 ap$ acl$din'lIy this partnership shall be deemed to have bcen
commenced'frbm tht'sa id date.
.

I
5, P.S.RATIO: The Profits and Losses of the partnership business including the
..
:. l
loss of capital if any, after providing from Remuneration to the partners as
l per Para No. 15 and interest on capital as perthe Para No. 16of this decd,
:; shall be divided and borne by all partners as follow.

Partner's Name Share

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Mr. Ketankumar Amrutlal Patel '.50%

o/o
Mr.Kamleshkumar Bhikhabhai Patel .5O
I a
Mr Vipulkumar Jamnadas Dharsandia .oo%
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I too%
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I 6. CAPITAL: The partners as may.be mutually agreed upon by them shall
I contribute to the capital of the partnership firm. The partnership can
t
t raise loans or deposit from their relatives, friends. of outsi-cJers at
I
mutually agreed rate of interest.
7. DURATION: The partnership shatt be AT will and will continue so land as
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the partners may desire. ln'case any partner'should desire to retire frorn
6
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the said partnership he shall give three months' notice in writing to
other partrrer or in any other manner as may be mutually agreed by the
partners.
a EATI-I/RETTREMENT & G On the Retirement or death of any
Partner or on Dissolution of the firm, the goodwill of the firm shall be
treated as NlL. lnthe event of the death of any party to this deecj, this
R
a partnership shall not be dissolved butthe legal heir(s) of such deceased
rtner shall be admitted tothis partnership in place and instead of such
eceased partner.

9. ACCOUNTING YEAR: ,Proper and regular book of account shall be

maintained regarding all the transaction relating to the partncrship
business. On 31"March qf every year a statement of profit and loss and
the balance sheet.t ori that date be prepared after appropriating the
net Profit/Loss aj:me-ntioned .above. The first account year of this ncwly
constituted partnership shall be from 30th April 2018 to 31" Mar 2019 .
10.BANK AC9OUNTi: Bank Account(s) in the name of the Partnership firt:r
i
I shall be opened with any Bank(s) and shall all the cheque(s) and other
T
I
' 'be
signed by any one partner from,
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a instruments(s) shall I'rlr.

Ketankumar Amrutlal Patel , Mr.Kamleshkumar Bhikhabhai Patel

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I Or Mr Vipulkumar iamnadas Dharsandia. .t^J
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1-1. RIGHTS; All the partners or his/her authorized agent(s) shall have
access to the books of accounts and shall be entitled to take copies
or extract there from.

1,2. DUTIES: All the partners shall devote fulltime.attention to the affairs
of the firm, The activities shall be collectively carried out by the
partners, and each partner shall spare no effort in solvi
problems/hindrances that the firm may face, AND sha

a Carry out the business to the greatest com mon advanta Be

just and faithful to other partner and shall render the true nts a nd
full information regarding the business of the firm to other partner

r1

Pay his separate and private debts,and shall indemnify other partner il

and firm against all proceedings, claims orrdemands in respect therecf

r
g 3.RESIB!-EIISNS: None of the partners without the consent of the otler
,q partner m'eTI;

Shall not utilize the assets of the.Br:m.for his personal benefit

b Assign, sell mortgage or change his/her personal share the
assets or profits of the firm to any other.
c Lend money belonging to the firm to an outsider except
in the ordinary course on business.
d Raise loan in the name of partnership firm.
, ,.,.:..
' I4.W|THDRAWAL: All the partners are permitted to draw reasonable
sum of mone)l: to 'meet their person! expenses. , Any unusual
withdrawal shall,'be done only with the consent of other partner.
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AKSHAR INC
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15. SALARY TO PARTNERS: The partners of this firrn are working
partners and shall pay their attention to the affairs of the firm. All
partners shall be entitled to remuneration as per the following
method of computation.

a
The total remuneration of the parties hereto shall not exceed
the limits laid down under the provisions of sections 40(b)(2)
of the lncome Tax Act, 1961. For the sake of clarification the
laid down by the above said section is as under:

i. , Rs. 3,00,00/- of the book-profit or in the case of ar

I
L,SO,OOO/- or at the rate of 90% of the bool<s-
I
t pro fits, whichever is more;
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on the balance of book-profit, at the rate of 60% of the
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I book-profit;
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E Itis further agreed by the parties hereto that any amendments made in the
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lncome Tax Act, 1961or any limits mentioned above shall automatically
$ . ".., ,.. ;,- .

get altered without having anVliamendment necessary in the partnership

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i deed.
I a. lt is fu rther agreed ib U",*"un the parties hereto that if the tota I

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amount of remuneration computed above is less than Rs. 1,50,000./-
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for the year, the total remuneration payable shall be Rs. 1,50,000 or
such lower sum as many be agreed bythe parties hereto.
b. The yearly Remuneration payable to the above partners shall be due to
and credited to their respective accounts at the close of the accounting
year when the final accounts of the partnership are made up ancl the
amount of the remuneration due to them is determined. However, the
remuneration so determined shall be deemed to have accrued el,enl\r
during the year on a month to month basis. The remuneration as
conipu'ted above shall be divided as follow. .,.,-^-"J
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Mr. Ketankumaf Arutlal Patel 37.50

M r. Kamleshkuniar Bhikhahhai Patel 37
Mr. Vipulkumar Jamnadas Dharsandia 25.
7

16) TNTERES OF PARTNERS: The capital of each pner be entitled to

an interest at the rate of 12%p.. or such rate as may be prescribed in
section 40(b) (lV) of the lncome Tax Act, L951- ' and other applicahrle
rules. The interest shall be payable atthe end of the year.

But, if the net taxable income of thg firrn after providing the interest
on capital as aforementioned is loss or,is less than the amoiint of
interest calculated above then the partners by mutual agreement tttay
\r/ provide for waiver of interest or for the payment of interest on capital
at a lower rate.
I

lt t1) ALTERATION: Any addition, variation or alteration in the terms

sf Al{
Itr. a
and conditions of the partnership deed may be made in writing b,,'
tyl
{l;. fr' the parties hereto without drawing up a fresh partnership deed in
;
)t that matter,.r " '' il ,
.

'"..-:.
t8) ARBITRATI0'i\|ihny'dispute or difference that may arise amongst the
partners or their representative(s) about the interpretation of this,
deed, accounts, rights and tiabilities or any other matter whatsoi:ver
touching the partnership affairs shall be referred to an arbitrator
agreed upon by all the partners/their legal representatives, who :hall
adjudicate in accordance with the provisions of the Arbitra,[ion anci
Consolidation Act, 1996 and his decision shall be final and binding to
all the parties hereto.

l9) SIGNING AUTHORITY: it is further agreed between allthe

partners/parties hereto that Mr.Ketankumar Amrutlal Patel
authorized to execute any agreement to sale, sale deed, constructiorr
agreement and/or any other document, pertainin g to property/land
-/
or part thereof, owned by partnership firm.
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This partnership deed is drawn on a stamp paper of Rs.1000/- issued by a

stamp vender on 30th April 2018 atVadodara bearing Sr. No.

Signed and delivered by within named Sign I

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Nlr.Kamleshkumar Bhikhabhai Patel

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M;
I)r'esence of ::-

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For AKSHAR INC

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Partner