Mr. A and Mr. B are running business in Partnership and sharing Profits/Losses in equal proportion; name of the Firm is X & Co. They want to introduce Mr. C into the firm as a new partner with 30% share in firm and ₹

Deed of Partnership for admission of Mr. C as a New Partner This deed of partnership is made on this _________ day of _________, 20_________ at _________ by and amongst the following: Mr. A S/o _________ aged about _________ years r/o _________ (hereinafter referred to as First Party); Mr. B S/o _________ aged about _________ years r/o _________ (hereinafter referred to as Second Party); Mr. C S/o _________ aged about _________ years r/o _________ (hereinafter referred to as Third Party) WHEREAS the above mentioned First party and Second party were carrying on the business of _________ in partnership in the name and Style of X & Co. under the duly executed partnership deed dated _________ AND WHEREAS First Party and Second Party decided to admit Third Party Mr. C into Partnership. Third party shall bring ₹ 10,00,000/- (Ten Lakh Only) as his capital contribution to the Firm for his share of 30% in profit/losses in the firm. NOW THIS DEED WITNESSETH AS UNDER That the Partnership Business shall be carried out under the same name and style of X & Co. That the principle place of business shall continue to be located at _________ That this deed of partnership shall come into effect on _________ That the main business of the firm shall remain the same. That interest @ _________ per annum shall be payable on Partners' capital account. That the profit or losses of the Partnership shall be shared in the following ratio: First Party: 35% Second party: 35% Third Party: 30% That each partner shall be just and faithful to other at all the times and shall keep others duly informed as to the activities of the firm. That each partner shall have free access to the books of account of the firm. That the partnership shall be at "Will". That dispute, if any arises amongst the partners shall be referred to Arbitrators chosen by each of the Partner and the representatives of their umpire to be appointed in the manner provided by the law and such reference shall be in all respect, as to the mode and consequence thereof conform to the provisions in that behalf contained in the Arbitration and Conciliation Act, 1996 or any other statutory amendments thereof. IN WITNESS WHEREOF the said First Party, Second Party and Third Party have hereto at _________ signed on the day and the year mentioned above. Witnesses 1. _________ First Party _________ 2. _________ Second party _________ Third party _________