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PARTNERSHIP DEED THIS DEED OF PARTNERSHIP is made and entered into in the city of Bhopal (MP) on________(date)______________, between:


Shri _______________________, aged about __ years, son of Shri ______________, resident of ____________________________________________________ (Hereinafter to be called the First Party); Shri _______________________, aged about __ years, son of Shri ______________, resident of ____________________________________________________ (Hereinafter to be called the Second Party);


WHEREAS the parties to this deed have been carrying on the business of hostel under the name and style of _______________________________, with its principal place of business at _________________________________________________ on the terms and conditions incorporated in the Partnership Deed executed on _____(date)______. NOW THEREFORE THIS DEED OF PARTNERSHIP WITNESSES, AS FOLLOWS1. Name & Address --The name of the Partnership Firm (name) at address ______________________________________. shall be

2. Commencement.--That the Partnership shall be deemed to have been commenced w.e.f. ___(date)_____. 3. Objects. --The Partnership is formed with the primary object of carrying on business of hostel and to do all other things, which are incidental, ancillary or conducive to the aforesaid objects. The Partnership may also undertake any type of business as may be mutually decided upon by them from time to time. 4. Place. --The business of the Partnership shall be carried on at ___________________, districts of MP state and such other place or places as may be decided by the partners from time to time. The Partnership can open any branch office within state of MP at any time at any place or the partners may decide places as from time to time. 5. Capital. --That the partners as per their books of account shall contribute

the initial Partnership Capital. The initial capital will be contributed by First and Second Party in the equal ratio. 6. Shares.--That the profits and losses of the Partnership shall be distributed amongst the parties in the following manner:
S. No. 1. 2. Name of the Partners Shri Shri TOTAL Share of Profit/Loss 50.00% 50.00%

7. Withdrawals. --That the parties may by mutual consent make withdrawals from time to time for their personal needs and requirements which shall be treated as their drawings and be adjusted against the share of profit accruing to them at the end of each year. 8. Salary.--That all the working partners shall be entitled to a salary and remuneration as per Section 40(b) of the provision of the Income tax Act. 9. Interest on CapitalAll the Partners shall be entitled to interest @12%per annum on initial fixed capital as mentioned in Para 5 above. In addition to the above the partners shall be entitled to interest @ 12% per annum on the additional capital contributed by them in excess of their share of capital as decided in Para 5 above. 10. Bank Accounts. -- That the Bank Account or Accounts of the Partnership shall be opened in the name of the firm or taken over exiting account of individual partners will be deemed bank account and shall be operated by both partners jointly. All the sums received by the firm whether in cash or through cheques or other negotiable instruments or otherwise shall be deposited in such bank account except as may be required for the exigencies and current expenses of the business of the partnership. The firm may borrow any amount from the bank as mutually decided. 11. Accounts.--That all the necessary and proper accounts as are commonly maintained in this line of business shall be maintained and caused to be maintained by the partners and entries shall be made therein of all such transactions as are usually entered in the books of accounts. The accounts shall be open to inspection to all the partners who shall also be entitled to take extracts and copies there from as they deem fit. Such accounts maintained in regular course shall be binding on all the parties unless any manifest error is pointed out in writing by the parties within reasonable time, in which case the same shall be rectified. 12. Annual Accounts.--That on 31st March of every year the P&L Account and the Balance Sheet shall be drawn up and the net profit and loss of the partnership as determined shall be duly adjusted among all the partners in the proportions as set-forth in Para 6 above. The first accounting year ending of the firm shall be 31st March 2010. 13. Management.--That the Partnership shall be managed and supervised by all the partners. All the Partners shall be liable to do all the acts for the firm and to appear before any authority on behalf of the firm. However, any one partner shall also be entitled to appear before any authority on behalf of the firm and can do any act on behalf of the firm, which shall be binding on all the partners. 14. That all the partners shall: (a) Carry on the partnership business to the maximum common advantage. (b) be just and faithful to each other and render true account and full

information of all the things effecting the partnership to one another. (c) be liable for their separate and private liabilities and the firm will not be responsible for the personal liabilities and debts of the partners. 15. That all the acts, deeds and things done in the good faith by any one party or parties hereto either done in his own name or in the name of the Partnership in connection with or in furtherance of the Partnership shall be deemed to have been done by him on behalf of all the parties hereto and this partnership and the other parties shall be duly bound thereby. 16. Admission.The partners may unanimously resolve to add a new partner or partners on such terms and conditions as may be agreed to among partners. 17. Retirement.In case of any of the partner wants to retire, he should give a prior notice of at least 90 days before the date of retirement. 18. Death.--In case of death of any of the parties, the legal heirs shall be entitled to become the partner of the firm along with the surviving partner(s). In case the legal heirs are not interested to become the partner, then an assessment of all the assets and liabilities of the firm shall be made as on the date of the death and the balance of the capital as well as the profit/ loss shall be paid to the legal heir as per the books of account of the firm and as per the assessment made. 19. Misconduct. --If any partner of the firm is guilty of any misconduct affecting the firm or the other parties, the other parties may notify in writing to such party who, shall make amendment for such misconduct to the satisfaction of the other parties within a reasonable time of such notice, otherwise, he shall be deemed to have automatically retired from the partnership of the firm and his rights and liabilities shall have been determined accordingly as provided already. 20. Terminations. --That on the termination of the partnership the parties hereto shall cause a full and accurate inventory to be prepared of the affairs of the partnership taking into account all the assets, liabilities existing or contingent as well as the goodwill of the partnership. Losses including deficiencies of capital, be paid first out of profits, next out of capital and lastly, if necessary by the parties individually in the proportions to which they were entitled to share profits. The assets of the firm including any contribution by the parties to make up deficiencies of capital shall be applied in the following manner and order: (a) In paying the debts of the firm to third parties. (b) In paying to each partner ratably what is due to him from the firm for advances as distinguished from capital. (c) The residue, if any, shall be divided among the partners in the proportion in which they are entitled to share profits. 21. Arbitration.--That in the event of any dispute between the parties or their legal representatives about the interpretation of this deed, of their rights and liabilities hereunder or any matter whatsoever touching upon the partnership affairs whether in course or on or about termination of the partnership or thereafter shall be settled by arbitration and the provisions of the Indian Arbitration Act, shall apply in that behalf. 22. That the matter not specifically provided in this deed, unless, otherwise, mutually decided shall be governed by the provisions of Indian Partnership

Act, 1932. 23. Notwithstanding anything stated or provided herein, the partners shall have full rights and discretion to modify, alter or vary the terms and conditions of this partnership deed in any manner whatsoever they think fit by mutual agreement. SIGNED SEALED AND DELIVERED by The Party of the First Part & Second Part in the Presence of witness of: 1.) (First Party)

(Second Party) 2.)