Travelasyoulike Vr 001 08 Oct 13 (3)

8/13/2019 Travelasyoulike Vr 001 08 Oct 13 (3)

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PARTNERSHIP DEED

THIS INDENTURE is executed on ________day of ___________ 2013 at Bangalore

between:

1. SRIMATI MEENAKSHI SETHURAMAN D/o SETHURAMAN PL aged about38 years residing at #_____,Thattara treet, !uthu"ettai oad,

Thoruthurai"oondi, Ta$il %adu&

2. SRI MUTTINENI SAMBA SIVA RAO S/o RAGHAVAIAH aged about ''years residing at ()18, *+! -.+//-, %T, and

3. SRIMATI VANJANA RUTH SUGANTHI D/o EDWARD DHARMARAI agedabout years residing at #1, *++%+ .+/+4+, T& T56!+ .6T,

/%++7+ .+!, B+%+/6-)('0 08&

The ter$ "artners shall $ean and include the "arties, their legal heirs, executies,

ad$inistrators, legal re"resentaties and assigns&

The aboe said "arties to this deed hae decided to constitute the "artnershi" fir$

with a iew to underta9e business in the na$e and style of TRAVELASYOULIKE”at #13';B, 6%< =/66, *.+>, 3< !+%, *6%-%+ ++5++,

B-5%< +7-5?+ T5-+T- @6..& =+!/4 !+//A 5+/, 6/< +.6T 6+<,B+%+/6-) ('0 01&

NOW, in order to aoid any future difficulties and to hae better understandings, the

"arties hereto hae agreed a$ong the$seles to reduce the ter$s of "artnershi"into writing&

NOW THEREFORE THIS DEED WITNESSETH AS FOLLOWS:

1 Du!"#o$ o% P!"$&'(#): That the .artnershi" shall be with effect fro$

D!"& and shall be *AT WILL+.

2 N!,& o% "(& F#,: That the "artnershi" business shall be carried on under

the na$e and style of *TRAVELASYOULIKE‘ and;or such other na$e;s as

the "arties to this deed $ay $utually agree u"on fro$ ti$e to ti$e&

3 P-!& o% Bu'#$&'' That the .artnershi" business shall be at #13';B,

6%< =/66, *.+>, 3<

!+%, *6%-%+ ++5++,B-5%< +7-5?+ T5-+T-, @6..& =+!/4 !+//A 5+/, 6/< +.6T

6+<, B+%+/6- ('0 01, and such other "lace;s as the "arties to thisdeed $ay $utually agree u"on fro$ ti$e to ti$e&

0 N!"u& o% Bu'#$&'': That the $ain business of the fir$ shall be in the

nature of Tours C Traels which shall include "roiding +ir"ort Transfers, enta cab, .roiding Dabs;Eehicles Dontractual Basics, Train Boo9ing erices ,

=light Boo9ing erices, Tour .ac9age etc and any other business that $ay be$utually agreed u"on fro$ ti$e to ti$e&

No$ o,)&"#"#&: t is !utually agreed u"on by the "arties that till this"artnershi" is in -xistence none of the "artners or anyone haing any nexus

to any "artner would carry on the sa$e or si$ilar nature of business asdefined in Dlause aboe& n case any of the "artners are found co$$itting abreach and it is "roen, (0F of the eenues of that .ro"rietorshi";

.artnershi"; Do$"any shall be "assed on to T+E-/+46/*->& Theaffected "artners shall be at liberty to increase or reduce the aboe

"ercentage of da$ages fro$ ti$e to ti$e&

4 Wo5#$6 P!"$&': That it is agreed by and between the "arties hereto thatthe "artners who agree to deote their ti$e and attention in the conduct of

the affairs of the fir$ as the circu$stances and business needs $ay reGuireand hereinafter called as the wor9ing "artners> shall be "aid re$uneration as

a "ercentage of boo9 "rofits for each accounting year in the following

$anner:



a& The total re$uneration "ayable to the wor9ing "artners shall not

exceed the a$ount s"ecified in section 0@bA of the nco$e Tax +ct1H'1 or any other a""licable "roisions as $ay be in force fro$ ti$e

to ti$e& The sa$e will be wor9ed out as under:

n case of negatie boo9 "rofit %/

n case of boo9 "rofit u" to

s&3,00,000;) for the year

s&1, (0,000 or H0F of the

Boo9 .rofit whicheer is

high but not exceedingBoo9 .rofit&

6n the Boo9 .rofit exceedings&3,00,000;)

'0F of the excess oers&3,00,000;)

b& =or the "ur"ose of the aboe calculation, the boo9 "rofit shall becalculated on the basis of the boo9 "rofits as defined in section 0@bA

of the nco$e Tax +ct 1H'1 and co$"uted as "roided in section 28 to

section @dA Icha"ter E @<AJ of the nco$e Tax +ct, withoutdeduction the re$uneration "aid or "ayable to the "artners for thereleant accounting year&

c& uch total re$uneration shall be "aid to the wor9ing "artners eGuallythat is:

S(!&

1 SRIMATI MEENAKSHI 1/3 7

2 SRI MUTTINENI SAMBA SIVA RAO 1/3 7

3 SRIMATI VANAJA RUTH SUGANTHI 1/3 7

d& The "artners shall be entitled to increase or reduce the aboere$uneration& The "arties hereto $ay also agree to reise the $ode ofcalculating the aboe re$uneration and decide to "ay salary and grant

the benefit of house rent allowance, rent free Guarters, $otor car orconeyance allowance $edical ex"enses, accident or /D .re$iu$,

.roident =und, ratuity, bonus, co$$ission on sales;gross recei"tsand or other benefits to the aboe "artners either on $onthly or yearly

basis as $ay be $utually agreed u"on&

e& The re$uneration "ayable $ay be credited to the Da"ital;Durrent

account of the "artners annually or as agreed $utually fro$ ti$e toti$e&

f& .artners shall be entitled to withdraw any a$ount during the yearfro$ the "artnershi" towards their yearly re$uneration, share of "rofit

or out of their current loan or ca"ital account fro$ ti$e to ti$e as $aybe decided by the "artners by $utual consent&

8 I$"&&'" o$ Lo!$' f any funds hae been withdrawn by the "artners during

the tenure of the "artnershi", si$"le interest at the rate of 12F .&+ The"artners shall be at liberty to increase or reduce the aboe rate of interest

fro$ ti$e to ti$e

9 !)#"!- : The funds reGuired for the "ur"ose of the "artnershi" business shallbe contributed or arranged by the "artners in such $anner as $ay be

$utually agreed u"on& i$"le #$"&&'" !" "(& !"& o% 12: .&+& or suchlower;higher rate as $ay be "rescribed ; 0@bA@iA of the nco$e Tax +ct,

1H'1, or any other a""licable "roision as $ay be in force for the nco$e Tax+ssess$ent of the "artnershi" fir$ for the releant accounting "eriod shall be

"ayable by the "artnershi" on the a$ount standing to the credit of the ca"italand;or current or loan account or the account of any "artners& f there is any

debit balance in the account of any "artner, interest at the aboe rate shall be"ayable by hi$& The "artners shall be at liberty to increase or reduce the

aboe rate of interest fro$ ti$e to ti$e&

; That the "artners shall be entitled to $odify the ter$s relating to

re$uneration, interest, etc, "ayable to the "artners by executing au""le$entary <eed and any such deed executed shall hae effect, unless

otherwise "roided, fro$ the first day of the accounting "eriod in which such

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u""le$entary <eed is executed and the sa$e shall fro$ "art of this deed asif it was there fro$ the date of this of "artnershi"&

1< The "rofit and losses of the fir$ after "roiding the aboe said interest on

ca"ital and the salary to the wor9ing "artners, if any, shall be borne as under&

SHARE IN PROFIT/LOSS :

1 SRIMATI MEENAKSHI <

2 SRI MUTTINENI SAMBA SIVA RAO 2

3 SRIMATI VANAJA RUTH SUGANTHI 2

11 R&')o$'#=#-#"> That the "artnershi" fir$ and their "artners collectiely andindiidually shall not in any way be liable or res"onsible financially or

otherwise for any "ersonal dealing of any "artner and any such act that hasno bearing to the business actiities&

12

Au"(o#'&7 S#6$!"o>

That the "artners of the "artnershi" fir$ here byagreed u"on that !rs& E+%+7+ T5 +%T5 @"artnerA is authoriKed tosign and execute all agree$ents, underta9ings, a""lications, returns, "a"ers

and all other docu$ents relating to nco$e Tax, serice tax, ales Tax, otheroern$ent Bodies and all other docu$ents which reGuire authoriKation on

behalf of the all the "artners re"resenting the "artnershi" fir$&

13 B!$5 Aou$": That the Ban9 +ccount $ay be o"ened in one or $ore ban9s

and the sa$e shall be o"erated by any of the "artners to this deed as decided$utually fro$ ti$e to ti$e& 5oweer, the borrowing "ower shall est with all

the "artners Lointly&

10 M!#$"&$!$& o% Aou$"': That the boo9s of accounts shall be $aintained in

-nglish or any other language according to the !ercantile yste$ of+ccountancy&

1 Aou$"#$6 Y&!: That the boo9s of account shall be closed on 31st day of!arch eery year and the first of such accounts of the fir$ shall be closed on

31st day of !arch 201&

14 I$&'",&$"' #$ Po)&">: That when any "ro"erty, $oable or i$$oable,"urchased out of funds of the fir$ in the na$e of the fir$ or its "artner;s for

the usage of the fir$, then the ownershi" of the "ro"erty in such cases shallest with the fir$ and not with the "artner;s and that such "ro"erty shall for$

"art of the fir$Ms "ro"erty and shall be shown as the assets of the fir$ in the

Boo9s of +ccounts unless otherwise agreed u"on& ?hereas, the rights in any"ro"erty ta9en on lease for the "ur"ose of business of the fir$ in the na$e ofany "artner or "artners shall est with the .artnershi" =ir$ and the lease hold

rights shall not be transferred on retire$ent of the "artner;s in whose na$e the"ro"erty was leased unless otherwise agreed to&

18 I$ "(& &&$" o% D&!"( o R&"#&,&$"

aA That in the eent of death of any "arty to this deed, the entire rightsand "riileges enLoyed by such "artner shall auto$atically be ested

with his legal heir;s, successor;s, as the case $ay be and such"erson;s $ay be ta9en as "artners in his "lace as $ay be agreed u"on

by the suriing "artner;s&

bA That if the legal heir or re"resentatie of the deceased "artner doesnot desire to beco$e "artner, then he;she shall be entitled to their

"ro"ortionate share in "artnershi" which shall be settled within threecalendar $onths fro$ the releant date of death&

19 A=#"!"#o$: That any dis"ute or disagree$ent about any $atter connectedwith the "artners or arising out of the "artnershi" or relating to the account or

any other $atter affecting the$ Lointly shall be sorted out $utually& n caseof disagree$ent to any such $atter, the decision of the $aLority in ter$s of

share will "reail&

1; Mo7#%#!"#o$ o% T&,': That the "arties to this deed shall be entitled to

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$odify the ter$s and clauses of the "artnershi" $entioned hereinaboe by$utual agree$ent by executing a u""le$entary <eed and such deed

executed shall hae effect fro$ the day agreed u"on and the sa$e shall for$"art of this deed&

2< Po#'#o$ o% P!"$&'(#) A": That subLect to the "roisions $entionedaboe, the "artnershi" shall run under the "roisions of the ndian .artnershi"+ct 1H32 or any $odification thereon&

IN WITNESS WHEREOF, the "arties, thereto hae signed this deed on the date

hereinaboe referred&

WITNESSES

1.

?SRI @@

2.

?SRI @@

3.

?SRI @@

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Travelasyoulike Vr 001 08 Oct 13 (3)

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