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PARTNERSHIP DEED

This “Deed of Partnership” is made on this 2nd day of February, 2019 by and between:

1) Sri. Kallem Ravinder Reddy D/o. Kallem Sathi Reddy, aged about 33 years, R.O.H
No:4-11-494, Chithanyapuri Colony, DVK Road, Nalgonda, Nalgonda, Telangana –
508001.(Hereinafter called the 1st Partner of the FIRST PART).

2) Sri. Kallem Srujana, W/o.Kallem Ravinder Reddy, aged about 24 years, R.O.H No: 4-
11-494, Chithanyapuri Colony, DVK Road, Nalgonda, Nalgonda, Telangana – 508001.
(Hereinafter called the 2nd Partner of the SECOND PART).

Whereas two(2) partners named above are mutually agreed and decided to do business in
Partnership under the name and style of “M/s.S R Constructions”.

Whereas the Partners named above agreed to writing the terms and conditions agreed
upon:

NOW THIS INDENTURE WITNESSETH HEREBY DECLARES AS UNDER:

NAME: That the name and style of the partnership business shall be “M/s.S R
Constructions”.

1) COMMENCEMENT AND DURATION: The Partnership shall be commenced on 3rd

day of February 2019, and shall continue AT WILL of the Partners.

2) PLACE OF BUSINESS: The main place of business H. No. 2-4-396 Flat No: 101, Nitya
Megha Nivas- B,Road No.3 New Nagole, Hyderabad, Telangana - 500035.

3) OTHER PLACE OF BUSINESS: The partners also agreed to extend their business to
any other place if required.
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4) OBJECTIVE:The nature of the business of the partnership shall be as under:

a) To carry on in India, either alone or jointly with one or another firm, government, local
or other bodies.
b) To construct, build, alter, acquire, convert, improve, design, erect, establish, equip,
develop, dismantle, pull down, turn to account, furnish, level, decorate, fabricate, install,
finish, repair, maintain, search, survey, examine, inspect, locate modify, operate, protect,
promote, provide, participate, reconstruct, grout, dig, excavate, renovate, remodel,
rebuild, undertake, contribute, assist and to act as civil engineers, architectural engineers,
interior decorators, consultants/advisors, agents, brokers, supervisors, administrators,
contractors, subcontractors, turnkey contractors and managers of all types of
constructions and developmental activities in all its branches such as multistoried,
colonies, complexes, housing projects etc.

5) CAPITAL: (i) Necessary Capital as well as further funds required for the purpose of the
Partnership business shall be contributed or arranged by the partners in such manner as
may be mutually agreed upon by and between the partners from time to time. Interest at
the rate of 12% 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 in Income
Tax Assessment of the Partnership Firm for the relevant accounting period shall be
payable to the Partners on the amount standing to the credit of the account of the
partners. Such interest shall be calculated and credited to the account of each partner at
the close of the accounting year.
(ii) However, in case of loss or lower income, rate of interest can be nil or lower
percentage as may be agreed to by and between the Partners from time to time.

6) BORROWINGS: That the firm may borrow from time to time from partners or other
persons, firms, companies, banks or financial institutions such moneys as may be
required for the purpose of the business as deposits or loans at an agreed rate of interest,
both thePartners of firm together is empowered to borrow the money from financial
institutions or firms, companies on behalf of the firm.
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7) SHARES: The Net Profit and Loss of the Partnership Firm as per the accounts
maintained by the firm after deduction of all expenses relating to business of the
Partnership including rent, salaries and other establishment expenses as well as interest
and remuneration payable to the partners in accordance with this clause of the deed of
Partnership shall be divided and distributed amongst the partners on the close of the
accounting year in the following proportion:

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S.No. Name of the Partner Share in Profit & Loss
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1. Sri.Kallem Ravinder Reddy 90%

2. Smt.Srujana Kallem 10%

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Total:100%
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8) ACCOUNTS: Proper, full, correct and regular accounts shall be maintained diligently
and honestly in the manner usual for the said business and each of the partners hereto
shall have access to the books of accounts at all reasonable times.

9) ACCOUNTING YEAR: The books of accounts shall be closed and the Profit and Loss
account made up to 31st March of every year or any other date found convenient by the
Partners from time to time.

10) BANK ACCOUNT: The Bank Account shall be opened on the name of the Firm and
operated by all the partners jointly.

11) MANAGING PARTNERS: The first Partner i.e,Kallem Ravinder Reddy, shall be the
Managing Partner. He is agreed to actively engage himself in conducting affairs of the
business of the firm.
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12) MINUTES BOOK: That the partnership firm shall maintain a Minutes Book in which all
important decisions and resolutions relating to the business of the partnership firm
including any change or variation in payment of interest, salary, commission, bonus
etc.,payable to the partners shall be recorded and all such decisions and resolutions shall
be effective from the date they are so declared to be effective.

13) ADMISSION: The partners may be at mutual consent admit any other person into
partnership on such terms and conditions as are agreeable to all.

14) RETIREMENT: That in case any partner is desirous or retiring from the partnership
business he/she shall be required to give at least one month’s notice in writing of his/her
intention to do so, unless otherwise mutually agreed upon by all the partners.

15) SETTLEMENT OF DISPUTES: That in the event of any disputes arising amongst the
partners; the same shall be decided by mutual agreement within themselves.

16) AMENDMENT AND ALTERATIONS ETC.:Any term or terms of this agreement may
be amended, altered, abandoned or otherwise deal with by an agreement of the partners
and the same is in writing which shall have the effect as is embodied in this deed.

17) CHANGE IN CONSTITUTION: No change in the constitution of the partnership will be

done without the written consent of all the partners.

18) DEATH: Death of a partner shall not operate as dissolutions of the partnership. The
legal representatives of heir of the deceased partner shall not be entitled to interfere in the
management of the affairs of the partnership but they shall be entitled to inspect the
accounts books and the vouchers in support thereof for the purpose of ascertaining their
share there in and profits accruing thereon. They shall not, however be liable of any
losses incurred after the demise of the partner unless they are taken as partners in the
place of deceased partner immediately on such demise.

19) GENERAL: In matters not touched by these present, the provisions of the Indian
Partnership Act, 1932 shall apply.
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IN WITNESSETH WHEREOF the parties hereto have set their hands here unto with their
free will and true consent in the presence of witness on this date, month and year first
above mentioned
WITNESSES: SIGNATURES OF THE PARTNERS:

1) 1)

2) 2)