DEED OF PARTNERSHIP

THIS DEED OF PARTNERSHIP executed on this 29th day of May, 2024

BETWEEN:

1. K. ANIL KUMAR, S/O. K. BHASKAR RAO, residing at D.NO.10-72,

INDRAPRASTHA ENCLAVE, MEDIPALLY, GHATKESER, K V RANGAREDDY
DISTRICT, TELANGANA STATE hereinafter called the party of the First Part.
AND

2. K. BHASKAR RAO S/O. K. AZARAIAH, residing at D.NO.4-6-72/1,G R

BASTHI, KOTHAGUDEM, KHAMMAM DISTRICT, ANDHRA PRADESH STATE
hereinafter called the party of the Second Part.
 WHEREAS the parties of the above named intended to carry on business

under the name and style of M/S. FROZY MIST in terms of the Deed of partnership

hereinafter and it is expedient to have written instrument of partnership.

AND WHEREAS the parties hereto are mutually agreed on the terms and

conditions of partnership hereinafter offering:

NOW THIS DEED WITNESSES AS UNDER:

1.NAME : The name and style of partnership
business hereby constituted shall be
M/S. FROZY MIST.

2. PLACE OF BUSINESS : The place of business shall be at H NO. 10-72,

INDRAPRASTHA ENCLAVE, MADIPALLY,
HYDERABAD, K V RANGAREDDY
DISTRICT, or at any place or places as the
partner may agree upon from time to time.
3. NATURE OF BUSINESS : The partnership firm shall undertake business
of whole sale & retail of Interior Decoration and
to do any other business incidental to the main
business or such other business as the partners
decide from time to time.
4. CAPITAL : The capital shall be contributed by the partners
as per the needs of the business upon mutually
agreed basis from time to time.
5. INTEREST TO PARTNERS : It is hereby mutually agreed to provide interest
at the rate of 12% per annum on the capital
provided by the partners at the end of the
accounting year or on completion of each
project as agreed mutually by the partners. No
such interest is said incase of loss to the firm
before providing such interest and salary to
partners referred to in clause (6) hereinafter
time to time.

6. REMUNERATION TO WORKING PARTNERS : The party of the First Part and the party of the
 Second Part shall actively engage in conducting
the affairs of the firm considered as working
partner. It is hereby mutually agreed that the
party of the above part being working partner
shall be entitled to the following remuneration
which shall be calculated at a percentage of
book profits for each accounting period in the
following manner.
Clause A: The salaries to working partners per
month as under

1 K. ANIL KUMAR :`10,000/- P.M

2. K. BHASKAR RAO :`10,000/- P.M

Clause B:

a. If book profit is negative : 1,50,000/-

b. In case book profit is Positive_

On first `3,00,000/- of book profit: `1,50,000/-

or 90 per cent of book profit, whichever is more
On the balance of the book profit : 60 per cent
of book profit Book Profits shall have the same
meaning as assigned in the explanation 3 to
Section 40(b) of the Income Tax Act.

Working Partners shall have the same meaning

as assigned in the explanation 4 to Section
40(b) of the Income Tax Act. The eligible salary
derived as above is fixed as equally among
working partners.The maximum amount of
salaries to working partner is either CLAUSE-A or
CLAUSE-B which ever is higher.
The firm shall pay over or less than the above
said amount as it derives. The remuneration
is payable at the end of the accounting year or
on completion of each project or it can be
added to partners capital a/c. No salary could
however be payable in case of a loss arising to
the firm before providing such salaries.

7. MANAGEMENT : The party of the First part K. ANIL KUMAR

 shall manage the day to day affairs of the firm
and he shall be the managing partner.

8. DRAWINGS : The partners here to may draw amount or

amounts as may be agreed to between the
partners.

9. PROFIT & LOSS SHARING RATIO : The net profit or loss after deducting the usual
business out goings, remuneration to working
partners and interest to the partners shall be
divided between the partners are in 50:50
ratio.
10. BANK ACCOUNT : The partners shall open an account (or)
accounts with any bank or banks in the name
of the firm as the partners hereto may
determine from time to time. The bank account
shall be operated by the party of the First part
K. ANIL KUMAR.

11. ACCOUNTS : Proper books of account shall be kept as are

usually maintained in the business of similar
nature and the partners hereto shall have
access to the same and that no books of
account or papers shall be removed from the
business premises without the mutual consent
of all the partners.

12. BORROWINGS : The firm shall have the power to borrow or

raise any loans from the Financial institutions,
Bank Companies, firms and individuals from
whatever sources for the purpose of
partnership business. The party of the First
part K. ANIL KUMAR is hereby authorized to
exercise the above said borrowing powers on
behalf of the firm and such borrowings shall be
binding on all the partners.
13. ACCOUNTING PERIOD : The account of the firm shall be closed every
year on 31st day March and profit and loss
account and general statement of assets and
liabilities shall be prepared so soon after the
end of the year as in practicable.

14. ADMISSION OF PARTNER OR PARTNERS : The partners of the firm may Admit more
partners to the business of the partnership on
such terms and conditions as may mutually
agreed to between them when the situation so
warranted.
15. RETIREMENT OF PARTNERS : If, during the continuance of the partnership
any partner is desirous of retiring from the
partnership, he shall be at liberty to do so by
giving a notice of one month in writing to the
other partner conveying his intention of retiring
from the partnership business.
The amount standing to the credit of
the retiring partners including share of profit or
loss up to the date of retirement shall be
settled by the other partners with in a
reasonable time. If it is found that there is a
debit balance in the account of the retiring
partner shall settled the same within a
reasonable time.

16.CONTINUANCE OF PARTNERSHIP : The partnership may be dissolving only by the

mutual consent of the majority of the partners.
The retirement, death or insolvency of any
partners shall not have the effect of dissolving
the partnership. On any such event the
continuing partners or surviving partners if
they are two or more shall continue the
partnership business on such terms and
conditions as may be mutually agreed to
 among the partners. The retiring partner or
heir of the deceased partner shall have no right
whatsoever in the goodwill of the firm.

17. LIMITATION ON THE PARTNERS : Subject to the clause 10 and clause 13 no

partner shall, except with the consent of the
other partners :
a) An any way pawn, pledge or assign his
interest or any part thereof in the
partnership.

b) Do or suffer anything whereby the

partnership business or assets may be
endangered.
c) Assign or charges his share in the
assets or profits of the partnership.

d) Dispose of or buy, pledge, sell or

otherwise part with any part of the
partnership profits or assets

e) Acting any way which is prejudicial to

the interest of the firm.

18. EXPLUSION OF PARTNERS : Each partner shall be just and faithful to their
other partners in respect of all the matters
relating to the partners is not attending
diligently to his duties in the conduct of the
firms business or is not acting to the greatest
common advantage of the firm or fails to
observe the utmost good faith or violates any
of the terms of clause 17, the majority are
empowered to expel any such defaulting
partner by giving not less than 15 days notice
orally or in writing.

19. ARBITRATION CLAUSE : Any dispute of difference arising among

 partners either during the continuance of
business or afterwards in regard to
construction of terms of this deed and in any
part there of or any difference or opinion over
the rights and liabilities of the partnership
business shall be referred to arbitration under
the Indian Arbitration Act, 1940 or any
statutory modification there of for the time
being in force.

20. APPLICATION OF PARTNERSHIP ACT : In all other respects the parties thereto shall
governed by the provisions of the partnership
Act, 1932 and its later amendments.

IN WITNESS WHERE OF THE PARTIES WHERE TO HAVE SET THEIR HANDS AND
SIGNATURE OF THE DAY, ON THAT MONTH AND YEAR FIRST ABOVE WRITTEN.

WITNESSES: SIGNATURE OF THE PARTNERS

1. PARTY OF THE FIRST PART

2. PARTY OF THE SECOND PART