v ,{€

100

'1020
Act XVI of 1908
€ranlpt€d lf om 3
ian St8mp AEt, t

DEED OF PARTI{ERSHTP
OF
{
"lsPowER&ASSOC 'e
4
THIS DEED of Partnership made at -t
.{
Thousand and Fifteen.
.=<- -_-:-.) hg
r
g
_ --BETWEEN

!
I
ASHAN SI{ARMA, S/o. Jiwan Sharma, aged about 3l years, by religion Hindu,
?.
resideni of Flat no 1./A, House No 21, Achyut Apartment, Christian Basti, C.S
Road, Guwahati, in the district of Karnrup, Assam, herein after called rhe pARTy 66
OFTIIE FIRST PART. [which expression shall unless excluded by or repugnant {
to the context, be deemed to include his/her heirs, successors, execDtors, 8:
admrnistrators, representatives and assigneesJ. 4
U)
"-- AND
I
SWAPNA SHARffA, D/o of Arun Kumar Mukherjee , aged abouc 55 years, by I
religion Hindu, residentofFlat no 1/A. House no 2l.Achyut Apartment, Christjan \

e
Basti, G,S Road, Guwahati, in the district of Kamrup, Assam, herein after called the 0
PARTY OF THE SECOND PART. (Which expression shall unlcss excluded by or
repuEnant to the context, be deemed to include his/her heirs, successors,

I
executors, adnrinistrators, repr€sentatives and assigneesJ.
h
 leWna

ffiH

J6t-F
\-
r
-'#)- \/" cue,#to
#u4" . soirl,t*
$.^Itt.." I W
Son of,,..,..,.,,,.,,...,.,.., - " *.'..,/'.
Vlltrt6...,... ...'..,'...,,',,Moura./-..0'
P,s..,...-.-..". ...,'0isttict.""'+'
P.ols6rioir'....
i'

-
,,AGL"-/LL"-

ra"..r*4;4 67 t
$'^'[ *r t-*- - *'/r
-ul.L a lt
 AIID
PANCIIALEE BAISHYA SHARITA, D/o of paresh Baishya,
aged about ZS years, by
religion Hlndu, resjdent of Flat no 1/A, House no Zf,
ectryu'iaparr"ent, Chrisdan
Bastl, G.s Roa4 cuwahatr. in the district or xanrup. essam.
hefiin carted the
PARIT OF Tl{E THIRD PART. {Whlcb stratt uni""" "t", by or
""p.ession
lelugnant to the contex! be deemed to incluae "xcfrrded
his/her heirs, iuccessorsr execurorg
adminlstrator, represenlatives and assignees).

WHEREAS the parties here to has mutually d€cided to

carry on business in
{rt
partnership under rhe name and style of 'l s pdwER & Asso€rAT'es, q
terms and conditions agreed between them.
under certain {r4
d
AND WHEREAS tr has been considered expedient and advisabte to execule
a formal
DEED OF PARTNERSHTP incorporating there in, all the terms and
cohdirions which {
snalr.govern. the respective rights, duties & llablllties of partners
aud ln order to
avold all doubts, misuoderstandings and legal difficulties regarding them. 4
NOW THERETORE, THTS DEED OP PARTNERSHIP WITiIESSETT{ AS

7,
IIIA] tq name and style of the
'JSPOWER&ASSOCIATES"f
partnerchlp business shall be
with its principal place ofbusiness at Ground
t'loor of RC.C Buildln& H0use llo 1? , Nilomoni pbul€n path, Chrlstian Basti,
G,S, Road Cuwahatl- 781 005, in the Shte of Assam. Any other branch or
branches may also be opened under the aegis of this parfnership ar such
other place or places es may be mutually decided between t}e parbers from
time to time,

THAT the nature of the partnership shall be the business of - Trading in

Hec-trlcalsgoods rnd clectro c iEru6 & coEbact & supply businers and
o0rer related services to eadous state, Cintre & {
other E
Govemment/private pa.nies' and such other type of business as rnay be
mutually agreed by the partners from time to time,
t
,n
THAT the Partnershlp as constituted under this Deed shcll commence (or I
{
shall deemed to have commencedJ froD the firsl day of June T\,vo
4-
a
Thousand and Fifteen and th€ partnershlp Lc at Will,
wJ
THAT the capital required by the partnership busine$ shall be blought in 0r
arranged by the partners. The amount standing to the credit of the parties
herelo-above shall be treated as thelr respective capital conhJbution
irr€spective of the extent of t}eir individual shares in rhe Partnership and
such capital shall at present carry inte rcst @ ]'2% per annum. The interest so
charg€able shall, however, in no cas€ exceed the llmits as laid down und€r the
lncome Tax Act 1961 or any other applicable provisions that lnay be in force
from time to time .The partneru shall, how€ver, be at liberty to vary the rate
of interest from time to ttme as mutually agreed between tlem. They may \o
also declde not to charge any interest on thelr respective capital balances in )
any year or in case the ffrm has negative or low profit in any accounting year.
Further the Partners, uhless otherwise agreed, shall also be ljable to pay s{<
->-n
lnterest to the ffrm at identical rate on th€ir resp€ct Deblt Belance, ifany. \
q

THAT the Net proJit or loss of ihe Partnership business, includlng capital
deficiency. if any, after providing for all expenses including intefest and
r€r uneratlon to the partsl€rs, shall be shared betlveen the partners in tle
&
following proportioni -
-__

Cantd,...,.p/3
 :5:

Ashan Sharrna 5096 (Fifty perrent]

Swapna Sharma 25% (Fifty peruentJ
Panchalee Balshya Sharma 25% (Fifty percentJ

THAT ALL THE PARTIES hereto shall be working partners in the firm and
shall actively engage then self or through an apFointed repr€sentative in
conducting the.busiuess and day to day alfalrs of the ffrm ahd for providing
their regular advice guldanre and servtcq all of them shall be enUtied to thi $
{rA
maximum remuneration of Rs.200.000/- per month or Rs. 24,00,000/" per
year. It is further agreed by the partners tlat the maximum remunera on
payable to the working partners.shall be rcsrirted as speciffed below: -
J
TERIIS OF REMUNEf,ATION:
(-- c
€g
Level of Income Total Remuneration
JJ
lfbook Profit is negatlve Rs.1,50,000/- -{
Ifbook profft is positive :
Rs,1,50,000 or 90% of ^5
0n First Rs. 3 Lakh of book profit book prcfrt, whichever is
more
OD the balanoe of book profit 60% ofbook pmfit

Ths partners may increase or reduce or may not pay the Remuneration as
may be mutually decid€d between the partners from ttme to time.

{
Fot the purpose of tJre above calculation. the book profit shalt be calculated
on the basls ofbook profit as shown by tlre books and computed as provided t
r.[
in s€ction 28 to sectlon /t4D (Chapter IV-DI of the Income Tax Act 1961 or any
other applicable provisions rhar may be ln force ffom time t0 time without
deducting tle remuneraHon paid or payable to the partner for the rel€vant d
accounting year. F

Such remuneration shall be credit€d to tleir respective a"p,fiilIl",

+
the time offinalizations ofthe accounts ofthe ffrm for each financialyear. rr)

The partners shall, however, be at tiberty to 1rary the above stated scale of
temuneration in any year and may also agree to revise the pnoportion of ib
diuision and the manner of its computauon as may be agreed between the
partners hom time to dme. Further ln case of hega ve or low profit in any
Adcouhtlhg year the pertners may, by their mutual consent a8ree not to
charge any remuneratioh for their respective services.

7. THAT the Accrunting Year ofthe partne$hip business shall close once at the
end of €ach Financial year when account shall be taken of all the Assets and
Llabilitles ofthe Partnership business and a Balarce Sheet and a Prolit & Loss
Account shall be prepared dnd checked by the partners and t}le resultant
profit or loss shall be enter€d in the Capital accounts of the partrcrs in
proportion to their respective shares as mentioned ilr Clause 5 of this DEed.
e
THAT proper books of accounts shall be kept by rhe parhers at tle place of
buslness and they shall have access to them, can inspect tlose at all
reasonable times and rnay take suEh e)rtraEts as they think nt & pmper.
 :4:
L TIIAT all the partners shall have full power and authority to appoint
attorreys for and on behalf of the partnership business for its smooth
working and to commencg continue, defend compound or settle any
suit,
prosecutaon or any legal proceeding for or agaln$ the said partnership,
provlded always that in each case the approval or rattfication of
the other
patners shall in riably be obtained,

t
10. TII4T the Bank Account ofthe pertnership shall be mainteined in the name ol s
Firm wlth any Bank or Banks and the same shall be operated by any ofthe 3
parties her€b above or any other person or persons authorized
by the vt
partners,

11.
JH+T _,any of the partners shall be empowered to borrow money from -{F
Eanks/Financial Institutlons and to accept deposlt for t}e purpose of the .3
busiaess ofthe Ftrm and to securc the payments thereofby pl;dgiofstocks &
Sundty Debtors or otler Assets of the Firm and for the purpose or ln 4
.tt
connecdon therewith to sign, execute, register, deliver and rcnew all
assurances or receipts and negotiate, endorse, asslgn, Uansfer any such
instruments, securlues or assets ofthe Firm. I
12. THAT any of the partners shall be empowered to mortgage/assigr the
Current Assets and /or Fixed Assets of the company both preseni & future in
d
favour ofBankfs) or Other Financial Institution in such a manner as he thinks
fit or proper for obtaining a loan forh the Baok{s) or Financial Insutution and
for the purpose or in connection Chere with t0 execuE necessary documents
in frvour of the Bank(s) /FIs.

THAT for the purpose of aforesaid to make, enter lhto, sign and execute all
contracts, agreementt deeds, assignments and instnrmeoB and to do all
othet things whatsoever which the said partner nray d€em hecessary or
expedient in course ofborrowing money Fom Bank/Fls,
(
14. THAT each parher shatl - E
(a) Punctually pay his separate debts atrd indemnify t}le cther partner ard a
the assets of the firm against the same and atl expenses on accoun( ts
thereof.
q
s
(b) Be iust and faithful to other partner and at all times gve such full {-
information and trutbful exFlauation of all matters regading the .a
v)
affairs of the Partnership and afford every assistance in hls power in
carrying on the business for thelt muttral advantage.

15. TIIAT each ofthe partners shall be iointly and/or severally entitled:
lal to ash demand, sue for recovery and recelve whether in cash, cheque
or any other mode Fom any Cov€rnhent department, pri te
establishment or Local authority all monies, dues, ardcles and things
whlch shall become due, owing and payable to or recoverable by the
firm on any account and to give an €ffectual rec€ipt or dlscharge for
the same:
\
)
tb1 to apply for all kinds of licenses, permissiofu clearances for settlng up
of any factory/business foom Central,/State governments and/or any g.'.
Covernment/Semi government Departments/Authority and to appty b
for and to appear before the au$orltles appolnted for rhe same and to )
sign all papers in this connection;
[c] to submit tenders before t]e Government d€partment{s) and to accept
orders there from and for the purpose to appear before the autho tieg €
concerned and to slgn all papers in connection therewltJr;

Contd...pl5
 :5:

tdl to appear and represent the ffrm before Comhenial Ta& Income Tan,
Customs and Excise authorities whether original or appellate and also
t0 appear in any Courts, Trlbunal or Tribunali or any other
Gov€rnment D€partment in connection wlth any suit or proieediugs
whether clvll or rrimlnal ln whtch the firm is interested and to slm atl
papers, forms, documents, applications, bonds, returns etl rn
connectiou with the sald matteli {
I
{
Iel to sign, execute and enter into all sorts ofcontEcts. engagements and {r/J
-pertainlng to the business of t}|e firm rrdth any
agl€ements
Goverument body, private establldrment or local authority; to subhit
any dlspute relating to the business ofthe Erm to arbitratlon. ts
{
tfl to compromise or settle any debt due to the partnership and to grant
discharge thereof; and
g
J

16,
lCl to acton behalf of the nrm generally or individually. \------
THAT the stock-in-trade, capjtal and prcp€rty ofth€ said par*rership as wetl
I
as of a partner shall in no way Le liable for personal debt of otler
partn er/partners d
THAT the Parhrers shall maintain regular book of accounts and proper
enhies shall be made therein of atl receipts, payments, transactlong
engagernents and propertles of the parhership and the said hoola of
accounts, all receipcs, papers and wrltings shall be kept at the once of the
partnershlp firm and every partner or his agent shall have free access at ell
reasonable times to read, inspec! examine and copy the same.

18. THAT all the partners shall have EQUAL RIGHTS tn rhe conrrol and t
management ofthe said partnership business,
E.
19. NONE ofthe Partners shall without the cons€nt ofthe other Darhters - JF

(.1 Lend any of th€ ftrohey or detiver upon credit any of the goods of the S
firm to arry person or persons whom the other partnei shall -J
have q-
prevtously forbidden to tmst. (B

O) Civ€ any securtty or promise for the pajment of mon€y ou account of

the ffrm unless in th€ ordlnary course ofbusiness.

(cl Entet into agreement or become bail or suretlr for any person or do or
knowingly cause or suffer to be done anytlring whereby the
pamrership property may be endangered,

(d) Enter into ahy rensaction detrimental to t}e commerclal lnterests of \(

the firm- q
(e) Mortgage, charge or eucumber his,/her share in the profits of the flrtn. -4
*\
h
24. THAT all disputes concerning the partnershlp afalrs, lf cannot be settled
mutually, shall be referred to Arbitrators to be appointed und€r the
<^
ArbiFadon and Concitiation Acq, 1996, or any other statutory modiffcation
thereof. +
Contd...p/6
 i6i
21. THAT ln casq a paftuer wishes to retire foom the partnership, he may do so
by gfi.lng at least two month's notice in writing to other partners and ln rhar
case, the buslness of t}e partrership may be carried on by the other
Partner/Partners. That the accounts of the retiring parher shail be settle4
after valuation of all Asseis & Liabilities at market value, as on date of
retiremenl The retiring partners balance wlll be settted witlin the six
months or within such tlme as mutually agr€ed upon betweeh dte partners.
Further that rhs collateral s€curities given by the retiring partner to bank/Fls
for borrowlng purpose shall also be reJea5ed within rhat six months or within
such tim€ as mutually agrced upon berween the partners.

ZZ, THAT the deat$ of any of the partner shall not dissolve the partnership. The
heirs of the deceased partner shall be taken ln as partner or partners ai they
are rharof or mlnor in place of the deceased partnerr subiect to such terms
and conditiorrs as may be agrd upon the pafiies concerned or their legat
rep resen iatiyes.

23. THAT each of the parties hereto shall be entitled to carry on their own,
sepaBte 3nd independ€nt buslnesses as hidterto he might be doing or he may
hereafter do as he deem fit and properand other partner/partners shall have
no oblectlon thereto.

2+, THAT save and except the provisions made abovg the provisions of the
Indlan Partnershlp Act 1932, as amended from time to time shall apply.

25. TIIAT all or any of the terms and conditions of this Deed may be MOIIIFIED,
ALTERED OR VARIED AI'ID ANT NEW TERi,TS AND CONDITIONS I{Ay BE
ADDED TO by the mutual oopJem oI dle parrles hereto. to be ecrpressed
eitherin writihg or implied frrim conduct
\ _

IN WTNESS WHERE OF parties her€to aboye mehtloned have subscribed their

rtspectie8 hands on the day, rnonth and the yeer first ebove mentjoned.

$TGITIATUBE0F wrrNEssEs $rcrtATURB OF PARTNERS

. n\ ,./-
rJ.**r. YAsr,4.
1. 'DO{H_<---
PARTY OF THE FIRST PART

2' '&.^l-'$**-\ fur|-a '9,tnmp.

9'u) 2, PARTY OF THE SECOND PART

Panr.t*tr". $ aiat * Stll.*-

3, PARTY OF THE THIRD PART
 I
' cltlbrl
i ./lr::d r. rlvo {g bE
I

vxruvHs OXVIWI|YUd
I
. rEr.lsd3tl7Jr ta * !{i
I
I

I vrwt{8,F&n

t{
I

. ty{| r r.
Frca0*gd r{t,

,m

uolg Lr.'UPl ,. jr
;] r's5r<Fro
.!:!i r '.,i, I rr! d

ft.;.:r i.titfl$l Svltrnx NnlV

i..: il]{:' ||t :. E}|

vNUVlts v dun|s

JlrlgsdD v
USgttntl lHnotgv lNtilv{lll:d? rt! rE !rb{

,:-

vutvgs rv nr
i21. r !jcrr!r_r. r!. rA rqt

v!{EvH I |{YH8Y
irtral,4
 , Photocraph and Finger tmpre3sion of person involv€d in the Deed
D-cumen: Type PARTNERS
Rggislration OlUc6: Ksmrup Met/o
DocumJnt SuO fype: valu6 nol erpressed S€dat No.: 9g19i2ors
Date of lmpfess|on 2015t6-17
Book & Deed No-i Sook-tv/2466/201S

fype [4iddle'