Partnership
This query is : Resolved
Guest
Guest
(Querist)
29 July 2013
Dear Sir
how to form Partnership Firm in India ?
please explain me the procedures
thanks and regards
how to form Partnership Firm in India ?
please explain me the procedures
thanks and regards
29 July 2013
u need to make a partnership deed and if possible get it registered with registrar of firms.
Guest
Guest
(Querist)
30 July 2013
please provide me the Draft of Partnership deed
09 August 2024
Certainly! Below is a basic draft of a Partnership Deed that you can customize to fit your specific needs. This draft covers key components such as the name of the partnership, the nature of the business, capital contributions, profit sharing, and other important terms. Please note that this is a general template and should be reviewed by a legal professional to ensure it meets all legal requirements and reflects your particular situation.
---
### PARTNERSHIP DEED
**THIS DEED OF PARTNERSHIP** made at [City], on this [Date] day of [Month], [Year].
**BETWEEN:**
1. **[Partner 1 Name]**, residing at [Partner 1 Address], hereinafter referred to as the "First Partner."
2. **[Partner 2 Name]**, residing at [Partner 2 Address], hereinafter referred to as the "Second Partner."
**WHEREAS** the parties hereto have agreed to form a partnership in accordance with the terms and conditions set forth in this Deed.
**NOW THIS DEED WITNESSETH as follows:**
1. **Name of the Partnership:**
The name of the partnership shall be “[Partnership Name].”
2. **Business of the Partnership:**
The business of the partnership shall be [Nature of Business], and it shall be carried on at [Business Address] or such other places as may be decided by the partners.
3. **Commencement:**
The partnership shall commence on [Commencement Date] and shall continue until terminated as per the terms of this Deed.
4. **Capital Contribution:**
The partners agree to contribute the following amounts as their fixed capital to the partnership:
- **First Partner**: [Amount] ([Currency])
- **Second Partner**: [Amount] ([Currency])
The total capital of the partnership shall be [Total Amount] ([Currency]).
5. **Profit and Loss Sharing:**
The net profits and losses of the partnership shall be shared among the partners in the following ratio:
- **First Partner**: [Percentage/Ratio]
- **Second Partner**: [Percentage/Ratio]
6. **Books of Accounts:**
Proper books of accounts and records of the partnership shall be maintained at the principal office of the partnership. Each partner shall have access to the books of accounts at all reasonable times.
7. **Management and Duties:**
The partners shall jointly manage the affairs of the partnership. Specific duties and responsibilities of each partner shall be outlined as follows:
- **First Partner**: [Duties/Responsibilities]
- **Second Partner**: [Duties/Responsibilities]
8. **Bank Account:**
The partnership shall open and maintain a bank account in the name of the partnership with [Bank Name]. All partnership funds shall be deposited into this account, and withdrawals shall be made by authorized signatories as agreed upon by the partners.
9. **Partnership Property:**
All property acquired for the partnership shall be deemed partnership property and shall be used exclusively for the business of the partnership.
10. **Withdrawal and Addition of Partners:**
No partner shall withdraw from the partnership or any new partner be admitted without the written consent of all existing partners.
11. **Books and Records:**
Books of accounts and other records shall be maintained at the principal office and shall be available for inspection by any partner.
12. **Dissolution:**
The partnership may be dissolved by mutual consent of all partners or in accordance with the provisions of the Partnership Act, 1932.
13. **Arbitration:**
Any disputes arising out of or in connection with this Deed shall be resolved through arbitration in accordance with the rules of the [Arbitration Institution], and the decision of the arbitrator(s) shall be final and binding on all parties.
14. **Governing Law:**
This Deed shall be governed by and construed in accordance with the laws of [Country/State].
15. **Amendments:**
Any amendments or modifications to this Deed must be made in writing and signed by all partners.
**IN WITNESS WHEREOF**, the parties hereto have executed this Deed on the day, month, and year first above written.
**Signatures:**
_____________________________
[Partner 1 Name]
First Partner
_____________________________
[Partner 2 Name]
Second Partner
**Witnesses:**
1. _____________________________
Name: [Witness 1 Name]
Address: [Witness 1 Address]
Signature: ______________________
2. _____________________________
Name: [Witness 2 Name]
Address: [Witness 2 Address]
Signature: ______________________
---
This draft provides a framework for a standard Partnership Deed. Make sure to tailor it to your specific partnership details and seek legal advice to ensure compliance with local laws and regulations.
---
### PARTNERSHIP DEED
**THIS DEED OF PARTNERSHIP** made at [City], on this [Date] day of [Month], [Year].
**BETWEEN:**
1. **[Partner 1 Name]**, residing at [Partner 1 Address], hereinafter referred to as the "First Partner."
2. **[Partner 2 Name]**, residing at [Partner 2 Address], hereinafter referred to as the "Second Partner."
**WHEREAS** the parties hereto have agreed to form a partnership in accordance with the terms and conditions set forth in this Deed.
**NOW THIS DEED WITNESSETH as follows:**
1. **Name of the Partnership:**
The name of the partnership shall be “[Partnership Name].”
2. **Business of the Partnership:**
The business of the partnership shall be [Nature of Business], and it shall be carried on at [Business Address] or such other places as may be decided by the partners.
3. **Commencement:**
The partnership shall commence on [Commencement Date] and shall continue until terminated as per the terms of this Deed.
4. **Capital Contribution:**
The partners agree to contribute the following amounts as their fixed capital to the partnership:
- **First Partner**: [Amount] ([Currency])
- **Second Partner**: [Amount] ([Currency])
The total capital of the partnership shall be [Total Amount] ([Currency]).
5. **Profit and Loss Sharing:**
The net profits and losses of the partnership shall be shared among the partners in the following ratio:
- **First Partner**: [Percentage/Ratio]
- **Second Partner**: [Percentage/Ratio]
6. **Books of Accounts:**
Proper books of accounts and records of the partnership shall be maintained at the principal office of the partnership. Each partner shall have access to the books of accounts at all reasonable times.
7. **Management and Duties:**
The partners shall jointly manage the affairs of the partnership. Specific duties and responsibilities of each partner shall be outlined as follows:
- **First Partner**: [Duties/Responsibilities]
- **Second Partner**: [Duties/Responsibilities]
8. **Bank Account:**
The partnership shall open and maintain a bank account in the name of the partnership with [Bank Name]. All partnership funds shall be deposited into this account, and withdrawals shall be made by authorized signatories as agreed upon by the partners.
9. **Partnership Property:**
All property acquired for the partnership shall be deemed partnership property and shall be used exclusively for the business of the partnership.
10. **Withdrawal and Addition of Partners:**
No partner shall withdraw from the partnership or any new partner be admitted without the written consent of all existing partners.
11. **Books and Records:**
Books of accounts and other records shall be maintained at the principal office and shall be available for inspection by any partner.
12. **Dissolution:**
The partnership may be dissolved by mutual consent of all partners or in accordance with the provisions of the Partnership Act, 1932.
13. **Arbitration:**
Any disputes arising out of or in connection with this Deed shall be resolved through arbitration in accordance with the rules of the [Arbitration Institution], and the decision of the arbitrator(s) shall be final and binding on all parties.
14. **Governing Law:**
This Deed shall be governed by and construed in accordance with the laws of [Country/State].
15. **Amendments:**
Any amendments or modifications to this Deed must be made in writing and signed by all partners.
**IN WITNESS WHEREOF**, the parties hereto have executed this Deed on the day, month, and year first above written.
**Signatures:**
_____________________________
[Partner 1 Name]
First Partner
_____________________________
[Partner 2 Name]
Second Partner
**Witnesses:**
1. _____________________________
Name: [Witness 1 Name]
Address: [Witness 1 Address]
Signature: ______________________
2. _____________________________
Name: [Witness 2 Name]
Address: [Witness 2 Address]
Signature: ______________________
---
This draft provides a framework for a standard Partnership Deed. Make sure to tailor it to your specific partnership details and seek legal advice to ensure compliance with local laws and regulations.
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