Here is the Format of partnership deed for IOCL petrol Pump
PURPOSED PARTNERHIP DEED
This DEED OF PARTNERSHIP
is executed at _________ on this ____th October of 2023 between :
PURPOSED Partner Smt. ________________ (hereinafter called the FIRST PARTNER) and Sh. ___________________ (hereinafter called the SECOND PARTNER).
The Expression of all the
parties shall mean and include their respective legal heirs, successors,
executors, administrators and legal assigns.
WHEREAS the First Party
PURPOSED Partner _______________________________________ (Haryana) was
Interested and offered to takeover the Company Owned Retail Outlet Dealership
of Indian Oil Corporation Limited owned by Smt. ___________, Haryana
under the name & style of M/s ___________ FILLING STATION (CC __________) at ___________ Haryana.
AND WHEREAS the First
Party has joined hands with ___________, the Second Party to run the
business in partnership for betterment of trade, effective control of business
and to have sufficient financial resources w.e.f. effective date is and know
current
AND WHEREAS both the
parties mentioned above have become partners with each other to carry on the
business of M/s _________ FILLING STATION at ___________________, Haryana. Partnership on the following terms and conditions as settled
upon among the parties.
NOW THIS PARTNERSHIP DEED WITHNESSETH AS
UNDER:
1. That
name of Partnership Firm shall be M/s A.K FILLINGSTATION.
2. That
the principal place of business is at ________________.
3. That
the business of partnership concern is and shall be that of running the retail
outlet dealership of M/S/HSD and other petroleum products of IOCL.
4. All
assets and liabilities of the existing business shall be taken over by the
purposed partners and they should keep the corporation indemnified as result of
the said change.
5. That
the share of partners in the Net Profit or Loss as the case may be, in the
partnership business shall be as under
1. Smt. X 50.00%
2. Sh. Y 50.00%
6. That
capital shall be contributed by the parties hereto as and when deemed
necessary.
7. That
the parties hereto shall be entitled to change Interest @18% per
annum on the capital contributed by them in the business of the firm.
8. That
the accounting year of the firm shall be financial year i.e. from 1st Day _________every
year.
9. That
the partnership may be dissolved with the consent of all the parties hereto
with prior written approval of Indian Oil Corporation Limited.
10. That
bank account(s) of the firm may be opened with any bank(s) and account can be
operative by any of two and jointly, as agreed by the partners.
11. That
the firm shall not be responsible for the personal debts and liabilities of the
partners.
12. That
regular books of accounts regarding conduct of business shall be kept at the
business premises and each party hereto shall be entitled to inspect them
during business hours
13. That the partners shall be working partners
and will be entitled for remuneration as decided between the partners from time
to time.
14. That
partnership shall be effective w.e.f.___________________________
15. That
none of the parties shall stand surety in any case on behalf of the firm and
shall not be responsible for such construct of the any party.
16. hat
the first party is not entitled to retire the second party from business
without prior written approval of Indian Oil Corporation Limited.
17. That
profit and loss account and balance sheet shall be prepared at the closure of
every year and the net profit earned or net loss suffered shall be credited,
debited to the respective account of the partners in the ratio as specified in
Para 5 above.
18. That none of the party shall carry on any
speculation business on behalf of the firm.
19. That
none of the party shall mortgage, pledge, sell his share or interest in the
firm to any outside party.
20. That
in all respect matters which are not mentioned herein above in the partnership
shall be governed by the provisions of Indian Oil Corporation Limited.
21. There shall be no change in the constitution
of firm without prior written permission of Indian Oil Corporation Limited.
IN WITNESS WHEREOF all
the partners herein have set their hand on this Deed of Partnership on the Day,
Month and Year mentioned above.
WITNESSES:
(First Party)
(Second Party)
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