PARTNERSHIP DEED THIS DEED OF PARTNERSHIP is made and executed on this 10th day of Feb 2012 by and between:

1. Sri Kottisa Giridhar, S/o. Govinda Rao, aged about 41 years, residing at # 3-190, Adarsh Nagar, 5th Street,near old dairy farm Visakhapatnam-40 AND 2. Sri Ponnada Sudhakar Deo, S/o. Umamaheswar Deo, aged about 38 years, residing at # 1-104-18/1, M1G-29, Seetor-5, MVP Colony, Visakhapatnam-17. (Herein after referred to as partners of First & Second parts)

Contd.2..

1.

2.

:2: WHEREAS the parties of the First & Second parts is intended to carry on the business of Trading, Export, clearing and forwarding of Various Raw materials like Iron ore fines, coal and construction activities etc., and other such business in partnership. WHERE AS the parties have through if to set out full and reduce to writing the terms and conditions of their partnership. NOW THIS DEED OF PARTNERSHIP WITNESSES AS FOLLOWS: 1. Name The business of the Partnership shall be carried on under the name & style of M/s. SRI SHIRIDI SAI ENTERPRISES &CONSTRUCTIONS Contd..3.. 1. 2.

:3: 2. Term of Partnership The Partnership shall be deemed to have commenced from this day i.e. Feb 10th 2012 and shall continue unless otherwise determined by the Parties. 3. Nature of Business The partnership business shall be to carry on the business of trading, export of various raw materials like iron ore fines,coal and constructions etc.,, clearing and forwarding activities, transport and any other such business from time to time as agreed by the parties. 4. Place of Carrying Business The business of Partnership shall be carried from Visakhapatnam or any other place/places as may be agreed upon by the parties. Contd..4.. 1. 2.

:4: 5. Profit Sharing Ratio The partners hereby agree that notwithstanding the capital investment brought Sin either individually or as a partnership firm, the profits or losses of the Partnership (including losses of capital nature, it any) shall be divided amongst and borne by the Parties in the following ratio: S.No 01 02 Name of the Partner K Giridhar P Sudhakar Deo TOTAL 6. Capital Contribution & Interest on Capital It is hereby agree that the partners a forenamed shall bring in the required capital as well as further funds required for the purpose of the partnership business as may be mutually agreed upon by them. Contd..5.. 1. 2. Profit / Loss Ratio 50.00 50.00 100.00

:5: The firm has to pay an interest on the capital a the rate of 12.00 % per annum or as may be prescribed under Section 40 (b)(IV) of the Income Tax Act, 1961 or any Other applicable provisions as may be in force under the Income tax assessment of Partnership firm for the relevant accounting period. This amount shall be payable to the parties on account standing to the credit of the account of the Parties. Such interest shall be calculated and credited to the account of each partner at the close of each accounting year, However, in case of -loss or lower income, the rate of interest may be nil or lower than 12.00% as may be agreed upon by and between the parties from time to time. 7. Managing Partner The party of the First & Second parts i.e. Sri. Kottisa Giridhar and Sri Ponnada Sudhakar Deo are the Managing Partners of the firm, The Managing Partners of the firm to look the day to day affairs of the firm, and to deal with the various departments and authorities either individually for effective operations of the firm. Contd..6.. 1. 2.

:6: 8. Remuneration The parties of the First & Second parts i.e. K. Giridhar & P. Sudhakar dec are Managing Partners of the firm and shall be entitled to a remuneration of Rs.25,000/- each. The remunerations as above shall be paid or credited to their capital or current accounts of the parties. The parties shall be entitled to increase or reduce the above remuneration as may be agreed upon from time to time by and between the parties. In the even of loss or lower profits the remuneration may be lower or nil. 9. Drawings by Partner Each partner shall be entitled to draw (In addition to the remuneration as per e clause (8) out of the partnership business any sum or sums of money for his own use. The drawings are also subject to interest as mentioned in the paragraph 6. Contd..7.. 1. 2.

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10. Maintenance of Account Regular books of accounts of the firm shall be maintained during the course of the business and these shall be closed on the 31st March each year and shall be opened to inspection of the parties to this deed at all reasonable business hours at the Principal place of business. 11. Operation of Bank Accounts A banking account of the partnership shall be opened in one or more bank/banks by the Managing partners Sri. K. Giridhar & Sri P. Sudhakar Deo and shall be operated by the partner of the first part Sri. K. Giridhar and partner of the second part Sri P. Sudhakar Deo either any one of them individually. 12.Borrowings If, at any time here after the partnership business requires further capital., the same may be raised by the partners themselves by borrowing from Financial Institutions/ Banks/ Corporations or from Private parties at the agreed terms of interest and repayment schedules. The Managing partners shall be entitled to borrow funds on behalf of the firm and shall execute all documents in connection with the loans. 13. Admitting a New Partner into the Firm A new partner may be introduced into the business of the Partnership on such terms and conditions as may be mutually agreed between the Parties to this deed.

Contd..8.. 1. 2.

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14. Death or retirement of a Partner In the event of death of a partner, the Partnership shall continue with the Nominee/ legal heir of such Partner, Joining the Firm. However, the death, retirement or Insolvency of a partner shall not dissolve the firm. 15. Retirement of Partner Any partner of this firm may retire from the firm by giving three months notice in writing by the out going party to the others. 16. Dissolution of Partnership That the Partnership is at will and may be dissolved at any lime mutually agreed by all the partners. 17. Arbitration Every dispute or difference arising between the parties as to the interpretation, operation or effect of any clause in the partnership which cannot be mutually resolved, shall be referred to the arbitrator chosen by the parties in writing. Contd9..
1. 2.

::9:: The decision of such an arbitrator shall be binding on the partners. Subject as aforesaid the Arbitration and Conciliation Act, 1996 and the rules made there under shall apply to the arbitration proceedings under this clause. 18. Governing Law Except as aforesaid, the Partnership shall further abide by the provisions of the Indian Partnership Act 1932. IN WITNESS WHEREOF, the parties have set their hands this the day and year aforementioned. SIGNATURE OF THE PARTNERS : 1. (K. Giridhar) WITNESS : 1. 2. 2. (P. Sudhakar Deo)