PARTNERSHIP DEED
This Deed of Partnership (this "Deed") is made at Chandigarh on 2 April 2026.
BETWEEN
- Rohit Nair, son/daughter/wife of Suresh Nair, of House No. 1204, Sector 33-C, Chandigarh 160020, PAN AAECN5678L ("First Partner");
- Kavita Bansal, son/daughter/wife of Rajesh Bansal, of Shop No. 22, Sector 22-C, Chandigarh 160022, PAN AFRPB2212K ("Second Partner");
and the additional Partners named in the Schedule to this Deed;
together the "Partners", each a "Partner".
RECITALS
A. The Partners have agreed to carry on business together in partnership, on the terms of this Deed, under the name and style of Nair Bansal Trading Co. (the "Firm").
B. Wholesale and retail trading in packaged food products and related logistics services.
NOW THIS DEED WITNESSES AS FOLLOWS.
- NAME AND CONSTITUTION
1.1 The Firm shall carry on business under the name and style of "Nair Bansal Trading Co.", or such other name as the Partners may agree in writing.
1.2 The Firm's principal place of business is Plot No. 8, Phase 8-B, Industrial Area, S.A.S. Nagar (Mohali) 160055.
1.3 The Firm's other places of business are: Branch office: Shop No. 22, Sector 22-C, Chandigarh 160022
- NATURE OF BUSINESS
2.1 The business of the Firm is: Wholesale and retail trading in packaged food products and related logistics services.. The Partners may extend or change the business of the Firm only with the consent required by clause 11 of this Deed.
- DURATION
3.1 The partnership commences on 1 April 2026. Partnership at will, within the meaning of section 7 of the Indian Partnership Act, 1932, having no fixed term and continuing until dissolved as provided in this Deed
- CAPITAL
4.1 The Partners shall contribute capital as follows: Cash alone, contributed by the Partners in the amounts stated below
4.3 The First Partner contributes capital of ₹5,00,000 (Rupees Five Lakh only). The Second Partner contributes capital of ₹5,00,000 (Rupees Five Lakh only).
4.4 The additional Partners contribute capital as stated in the Schedule to this Deed: Faisal Sheikh: Rs 2,50,000
4.5 A Partner's capital account shall be credited with the capital contributed and any further sums the Partner brings in with the consent of the other Partners, and debited with any sum withdrawn from capital, in each case with interest, if any, as stated in clause 6.
- CURRENT ACCOUNTS AND DRAWINGS
5.1 A separate current account shall be maintained for each Partner, to which that Partner's share of profit is credited and remuneration, if any, and drawings are debited. No Partner shall draw from the Firm beyond that Partner's credit balance without the consent required by clause 11.
- PROFIT AND LOSS SHARING, AND INTEREST ON CAPITAL
6.1 The net profits and losses of the Firm, after payment of interest on capital and remuneration to Partners as stated below, shall be divided and borne by the Partners in proportion to each Partner's capital contribution stated in this Deed.
6.3 No interest shall be payable by the firm on the capital contributed by any Partner
6.5 Remuneration to working Partners: Rohit Nair, being a working Partner, shall draw a monthly remuneration of Rs 40,000, subject always to the limit for the time being prescribed under section 40(b) of the Income-tax Act, 1961.