Anuradha and Sudha are partners running a fashion designing boutique. They now propose to induct Seema as another partner in their firm w.e.f. 1st September, 2015. Draft a deed of agreement of admission of Seema into the
CS Professional · Drafting, Appearances and Pleadings · PYQS · December 2015
Anuradha and Sudha are partners running a fashion designing boutique. They now propose to induct Seema as another partner in their firm w.e.f. 1st September, 2015. Draft a deed of agreement of admission of Seema into the firm. Assume data.
Answer & Explanation:
Deed of Agreement of Admission into Firm of a New Partner THIS DEED OF AGREEMENT is made the ____________ day of ____________ 2015 BETWEEN Anuradha, Daughter of ____________ aged ____________ R/o ____________ and Sudha, Daughter of ____________ aged ____________ R/o ____________ partners in the firm AnuSudha Co. of the ONE PART, AND Seema, daughter of ____________ aged ____________ years resident of ____________ of the OTHER PART. WHEREAS the said Anuradha and Sudha are partners in the firm AnuSudha Co. situated in____________ and are bound as such under a deed partnership executed by them on the____________ day of____________ 2015 hereinafter referred to as the 'partnership deed'. AND WHEREAS the said Seema is desirous of being admitted as a member in the aforesaid firm of AnuSudha Co. and invest a sum of ₹____________ AND the said Anuradha and Sudha are willing to admit him as an additional partner. NOW THEREFORE THE DEED WITNESSETH that in pursuance of the said agreement and in consideration of the said Seema bringing in and contributing the sum of Rupees____________ (₹____________) only as additional capital of the above partnership firm, it is mutually agreed as follows: The parties hereto shall, as from the date hereof be and continue partners for the unexpired residue of the terms mentioned in para____________ of the partnership deed subject in all respects to the conditions, stipulations, and provisions of the aforesaid partnership deed, so far as applicable, and except as varied by this deed of agreement. The capital mentioned in the partnership deed shall hereafter be changed to the sum of Rupees____________ only and the partners shall hereafter have the undernoted shares in the capital. Anuradha shall have ₹____________ in the said capital; Sudha shall have ₹____________ in the said capital; and Seema shall have ₹____________ in the said capital. The profits and losses of the partnership shall continue to be borne by the partners hereto in proportion to their above named respective shares. IN WITNESS WHEREOF the said Anuradha, Sudha and Seema have hereto at____________ signed the day and the year first above mentioned. WITNESSES: Sd/- Anuradha Sd/- Sudha Sd/- Seema.
Topics: Drafting of Deeds and Documents
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