Partnership Deed

Here in after referred to collectively as Partners and individually as
partner which term shall whenever the context permits, mean and
include their respective heirs, executors, administrators and legal
representatives.
Whereas the partners hereto have mutually decided to join together to

form a partnership to carry on the business of: “NAUTRACEUTICALS
AND COSMETICS” and style “AGEMINDFULLY BY SPN” upon the
terms and conditions agreed to between them as from this 21st Day of
AUGUST, TWO THOUSAND AND TWENTY THREE.
And whereas, the Partners are desirous of setting forth the terms and
conditions under which the business shall be carried on in Partnership
to be reduced in writing, it is agreed to as below.
NOW THIS DEED OF PARTNERSHIP WITNESSETH AS FOLLOWS:

1. NAME OF THE FIRM
The name of the firm shall be “AGEMINDFULLY BY SPN” and/or

other name or names as the partners may decide from time to time.
2. PLACE OF BUSINESS
The firm shall carry on its business at GOTHICS PRIDE BLOCK B

109, RK LAYOUT VASANTH NAGAR, HYDERABAD, TELANGANA
500090. or other places as the partners may decide from time to
time.
3. NATURE OF BUSINESS
To carry on the business of “NAUTRACEUTICALS AND
COSMETICS” The above does not restrict the partners to any other
line(s) of legitimate business that they may mutually agree upon
from time to time and on business expediency.
4. DURATION OF THE PARTNERSHIP
The partnership shall be “AT WILL”.
5. CAPITAL
An Initial Capital of the firm as on this day 21.08.2023 of the said
partners will be as follows:
Sl.
Name of the Partners Capital (Rs.)
No.
1 PRAGNYANIDHI SABBINENI 5,00,000
2 SABBINENI SOS PRUDVI PRASAD 5,00,000

TOTAL 10,00,000
..3...
We are transferring the stock or other assets in existing
(Proprietorship) to this new Partnership Firm as per mutual
agreed between both partners. The inputs and capital goods
whatever shall be adequately accounted for in its books of
account by the partnership firm.
6. SALARY TO PARTNERS
a. All the partners are the working partners and shall be paid
remuneration based on the Book Profits for such accounting
year/period in the following manner:
b. Book profit for this purpose means the Net Profit as shown in
the Profit & Loss account for the relevant accounting
year/period, computed in the manner laid down in chapter
IVD of the Income-Tax Act (Section 28 to 44D) as increased
by the aggregate amount of Remuneration paid or payable to
the partners of the firm, if such amount has been deducted
while computing Net Profit.
c. Remuneration to working partners shall be calculated and
credited to their account either monthly as the partners may
agree upon.
7. BANK ACCOUNT
The partnership firm may open a bank account/s in such bank or
banks as the partners may agree upon and Bank Account shall be
operated by both or any other instructions as may be given to the
bankers from time to time by the firm under the signatures of the
parties hereto.
8. BORROWINGS POWERS
The partners shall have the powers to borrow and to raise loans in
the name of the firm in the usual course of business from Banks,
Financial Institutions, Financiers or any other parties on such
terms and conditions as the partners may decide from time to time.
The necessary documents for raising the loans shall be executed by
all the partners hereto and the same shall be binding on the firm
and on all the partners. Borrowing should be jointly by the
Partners only for the purpose of the business of the Partnership
firm.
The Partners shall discharge and pay their separate debts
punctually and shall keep their interests in the partnership as well
as the assets of the firm free from all attachments, encumbrances
etc. and in the event of the firm suffering any loss or damage due
to the failure of the partners to discharge their separate debts,
such partners shall indemnify the firm of all such losses, which the
firm may suffer in this regard.
The Partners shall by written and by joint consent - release,
compound or abandon any debt due to the firm, diminish any
security due to the firm without receiving the full amount thereon,
lend any money or deliver any goods / provide services belonging to
the partnership otherwise than in the ordinary course of business
of the firm or transfer or assign, either absolutely or by declaration
of trust or mortgage his/her interest in the firm or do or knowingly
permit anything to be done whereby the properties of the firm are
exposed to the danger of being seized, attached or taken in
extinguishments of debt – statutory or otherwise due.
9. CONDUCT OF BUSINESS
All matter relating to the conduct and management of the business

shall be mutually decided and shall be binding on the partners
herein. The Partners or their authorized agent(s) are authorized to
appear and represent the firm before all Courts of Law,
Magistrates, Judges, Collectors, Income-tax Authorities, Sales-tax
Authorities, Goods & Service Tax Authorities, Provident Fund and
Professional Tax Authorities, Custom Authorities, Import Trade
Control Authorities, Joint Chief Controller of Import and Exports,
TELANGANA, etc., and the Chief Controller of Imports/Exports
TELANGANA, State Trading Corporation of India, Corporation of
TELANGANA, TELANGANA Port Trust and all other Officer or
Officers of the State or Central Governments. The partners shall be
just and faithful to each other in all transactions relating to the
business of the partnership and shall render true and correct
account to the others when and as often as the same shall be
reasonably required.
10. PROFIT SHARE AND MAINTENANCE OF ACCOUNTS
Proper books of accounts shall be maintained together with relative

vouchers and the same shall be closed on the 31st day of March
every year. The net profits or losses arrived at after charging all
expenses and outgoings incidental and incurred for the purposes of
the business of the firm, remuneration to partners and interest to
partners, shall be divided between the partners:
PRAGNYANIDHI SABBINENI - 70 %
SABBINENI SOS PRUDVI PRASAD - 30 %
11. DEATH, DISABILITY AND RETIREMENT OF PARTNERS
a. Any partner whose abilities to function as a partner is

compromised due to disability of mind or body, shall retire
from the partnership either on his own or on the joint
decision of the other partners.
b. Any partner, who wishes to retire from the partnership shall
give at least Three months notice of his intention to retire to
the other partners. All the partners shall nominate any
person to own and control his dues from the firm.
c. On the death of any partner, the legal heirs or
representatives of the deceased partner or the retiring
partner shall be entitled to the amounts standing to the
credit of the account of the deceased partner.
d. All amounts due to the disabled partner or retiring partner or
the legal heir of the deceased partners as the case may be
shall be paid within 12 months from the date of death,
retirement or disability of the partner.
12. DISSOLUTION OF FIRM

In any event of dissolution of the firm it is hereby expressly
agreed that the Assets/liabilities of the firm shall be valued at such
rates as may be mutually agreed upon amongst the partners hereto
for the purpose of division amongst them. The amounts due
to/from the firm shall be settled within such time and in the
manner as mandated by the joint decision of the Partners.
13. INVESTMENT OF FUNDS OF THE PARTNERSHIP FIRM
The Partners of the Firm shall invest their capital funds of the
partnership and that of the partnership only in the business of the
Firm and in the name of the firm. Any investments in other
ventures through the funds of the Partnership shall be only in the
name of the Partnership firm and not in the name of any of the
partners unless mandated by law or any other contract to the
contrary and in that event, all partners shall be represented in the
ratio of the partnership deed in the ownership and management of
that investment – either in movable or immovable assets.
14. DISPUTES AND ARBITRATION
All disputes arising between the partners as to the interpretation,
operation, or effect of any clause in this deed or any other
difference arising between the partners, which cannot be mutually
resolved, shall be settled by mutual arbitration and in the event of
lack of consensus, the provisions of the Indian Arbitration and
Conciliation Act 1996 shall apply. The Seat of Arbitration shall be
in TELANGANA and in the English language. Judgment on the
award rendered by the arbitrator(s) shall be final and binding on
the partners.
15. CODICIL DEED
It is hereby expressly agreed amongst the partners that any of the

clause or clauses entered to above may be altered, substituted and
amended, added or deleted from time to time as may deemed
experienced and agreed to by the partners and any such
supplementary deed shall have effect, unless otherwise provided,
from the first day of the accounting period in which such
supplementary deed is executed and the same shall form part of
this deed as if it was in existence and in force from the date of this
partnership.
16. PROVISIONS OF THE INDIAN PARTNERSHIP ACT
The provisions of the Indian Partnership Act, 1932 (or any

statutory modification thereof) shall apply except in so far
specifically here in above mentioned.
THIS PARTNERSHIP DEED entered into this 21st DAY OF AUGUST, TWO
THOUSAND TWENTY THREEwill have effect from today onwards.
IN WITNESS WHEREOF, all the parties hereto affix their signature to this
deed on the date, month and year hereinabove written.
[PRAGNYANIDHI SABBINENI] [SABBINENI SOS PRUDVI PRASAD]

FIRST PARTNER SECOND PARTNER
Witness:
1.
2.

Partnership Deed

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Here in after referred to collectively as Partners and individually as

Whereas the partners hereto have mutually decided to join together to

NOW THIS DEED OF PARTNERSHIP WITNESSETH AS FOLLOWS:

The name of the firm shall be “AGEMINDFULLY BY SPN” and/or

The firm shall carry on its business at GOTHICS PRIDE BLOCK B

To carry on the business of “NAUTRACEUTICALS AND

2 SABBINENI SOS PRUDVI PRASAD 5,00,000

All matter relating to the conduct and management of the business

10. PROFIT SHARE AND MAINTENANCE OF ACCOUNTS

Proper books of accounts shall be maintained together with relative

SABBINENI SOS PRUDVI PRASAD - 30 %

11. DEATH, DISABILITY AND RETIREMENT OF PARTNERS

a. Any partner whose abilities to function as a partner is

12. DISSOLUTION OF FIRM

It is hereby expressly agreed amongst the partners that any of the

The provisions of the Indian Partnership Act, 1932 (or any

[PRAGNYANIDHI SABBINENI] [SABBINENI SOS PRUDVI PRASAD]

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