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This Deed of Dissolution of Partnership is made on this __________ day of

_________ between and by -

1) __________________ S/o ____________________ First party of this agreement

2) __________________ S/o __________________ Second party of this agreement
3) __________________ S/o____________________ Third party of this agreement
4) __________________ S/o __________________ Fourth party of this agreement

Whereas the parties aforesaid having entered into a partnership at will on

_____________under the name & style of ________________________for the
purpose of carrying on the business of _____________________; and

Whereas all the partners of the aforesaid partnership, having collectively decided to
dissolve the said partnership.


1. The aforesaid partnership under the name & style of ____________________

shall stand dissolved with effect from___________.

2. The account of the partnership have been closed at the close of business as
on the date of dissolution and a Profit & Loss Account and Balance Sheet have
been prepared after mutually assessing all the assets & liabilities, expenses,
provisions and other such things.

3. As a consequence of such finalisation of accounts and preparation of Profit &

Loss Account and Balance Sheet the amounts due to or by the partners as
indicated in the balance sheet have been properly arrived at.

4. It is mutually agreed that none of the partners will have any other claim of
whatsoever nature or description; on any other partner or partners or persons
over and above such amounts indicated in the balance sheet.

5. Each of the partners has assured the others and warrants that except as
recorded in the books and papers of the partnership; that he has not
received, collected, discharged or compromised any claim, demand or other
credit due or to become due to the partnership, or contracted or otherwise
incurred any liability, debt or obligation that may now or hereafter directly or
indirectly charge or affect the partnership or any of its interests or properties.

6. It is unconditionally agreed upon by all the partners that the business of the
partnership, along with the goodwill, if any, assets and liabilities as indicated
in the balance sheet prepared on dissolution of the partnership, shall be taken
over for the purpose of winding-up by the _______ Party to this agreement
and all the remaining parties hereby expressly disown any interest or claim in
the business, goodwill, if any, assets or liabilities of the business from the
date of dissolution of partnership.
7. Upon such takeover the _____ Party to this agreement shall be liable to pay
the remaining partners the amounts due to them as indicated in the Balance
Sheet referred to above. Such amounts shall be paid to them on or before
close of ________months reckoned from the close of the month in which the
dissolution of the partnership is effected.

8. The _____ Party to this agreement shall have exclusive rights to endorse,
collect, realise cheques, notes, drafts or other negotiable instruments, refund
orders, deposits or any other assets of the partnership and to do all such acts
necessary for the purpose of winding-up.

9. Each of the parties hereby agrees to execute any other release deed, or any
other document, papers necessary in any matter relating to the partnership
or to further assure the carrying into effect the dissolution of the firm.

10. Each of the parties hereby undertake to save and indemnify to the extent of
his profit sharing ratio as agreed to in the original partnership agreement; the
other parties or any one of them; in respect of any other statutory liability
which is not realised or considered at the time of finalisation of accounts of
the partnership.

11. The original deed of dissolution shall be retained by the _____ Party to this
agreement, and he shall cause to be delivered one Xerox copy of the deed to
each of the other parties to this agreement.

In witness whereof the parties have signed this deed along with copies of
Profit & Loss Account and Balance Sheet annexed hereto on this
___________ day of _______.

Witness: Parties:

1. 1.
2. 2.
3. 3.
4. 4.