Partnership deed for fishary

Certainly! Below is a standard, customizable sample format for a partnership deed.

PARTNERSHIP DEED

This Deed of Partnership is made and executed on this [Day] of [Month], [Year] at [City/Place].

BETWEEN

[Partner 1 Name], son/daughter of [Parent Name], residing at [Address], hereinafter called the "FIRST PARTNER".

AND

[Partner 2 Name], son/daughter of [Parent Name], residing at [Address], hereinafter called the "SECOND PARTNER".

(The partners are collectively referred to as the "PARTNERS").

1. NAME AND PLACE OF BUSINESS

The business shall be carried on under the name and style of [Firm Name]. The principal place of business shall be at [Complete Address].

2. NATURE OF BUSINESS

The business of the firm shall be [e.g., Fishery, Fish Farming, Processing, and Marketing] and any other business as the partners may mutually decide.

3. COMMENCEMENT AND DURATION

The partnership shall commence on [Start Date]. It shall be a [Partnership at Will / Fixed Term of X years].

4. CAPITAL CONTRIBUTION

The initial capital of the firm shall be [Total Amount], contributed by partners as follows:

• First Partner: [Amount]

• Second Partner: [Amount]

5. PROFIT AND LOSS SHARING

The net profits and losses of the firm shall be shared between the partners in the following ratio:

• First Partner: [%]

• Second Partner: [%]

6. INTEREST ON CAPITAL AND SALARY

• Interest on capital contributed shall be payable at [Rate, e.g., 12% p.a.].

• Working partners shall be entitled to a monthly salary of [Amount], as per the Income Tax Act.

7. BANK ACCOUNT OPERATION

The bank account(s) of the firm shall be operated by [e.g., Joint Signatures of all partners / Any one partner].

8. ACCOUNTS AND AUDIT

The financial year of the firm shall end on 31st March every year. Books of accounts shall be maintained and audited by a qualified Chartered Accountant.

9. ADMISSION, RETIREMENT, AND DEATH

No new partner shall be admitted without the mutual consent of existing partners. In case of death or retirement of any partner, the firm shall not dissolve; the remaining partners may continue the business.

10. DISPUTE RESOLUTION

Any dispute arising out of this deed shall be referred to arbitration in accordance with the Arbitration and Conciliation Act.

IN WITNESS WHEREOF, the partners have signed this deed on the date mentioned above.

(Signatures)

[Partner 1 Name] [Partner 2 Name]

Witnesses:

1. [Name & Address]

2. [Name & Address]

Important Notes for Implementation

• Legal Stamp Paper: You must print this content on non-judicial stamp paper of the appropriate value based on your state's regulations.

• Notarization: Once signed by all partners and witnesses, have the document notarized by a licensed Notary Public.

• Registration: It is highly recommended to register the firm with the Registrar of Firms in your district for full legal protection.

• Customization: Please edit the bracketed information to reflect your specific business arrangement.

Summary: A partnership deed requires specific details on partner names, business nature, capital, profit-sharing, roles, and dispute resolution. Use the template provided on non-judicial stamp paper, have it signed by all partners/witnesses, notarized, and consider registering it for legal validity.