PARTNERSHIP DEED

The deed of partnership is executed on 31st December 2024 between amongst

1. K. SANKARI, W/o. Kirupanandam, aged about 38 years and residing at No.6,

Uppili Nagar, Thirunageswaram, Kumbakonam, Thanjavur, 612 204.

2. P. KIRUPANANDAM, S/o. Palaniappan, aged about 40 years and residing at

No.6, Uppili Nagar, Thirunageswaram, Kumbakonam, Thanjavur, 612 204.

1. 2.

(Cond…2)
WHEREAS the above said parties are desirous of entering into a partnership in
the name and style of “SRI LAKSHMI FINANCE” to carry on the business to
engage in the business of money lending and finance, providing financial
assistance through loans to individuals, businesses, and other entities..,
Additionally, the partnership will explore and undertake any other business
activities as mutually agreed upon by the partners from time to time

1. 2.

(Cond…3)
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NOW THIS DEED WINTESSETH AS UNDER: -

1. The business shall be carried in the name of “SRI LAKSHMI FINANCE”

2. The business of the firm shall be carried at 36-B, Mela Salai, Kachery Road,
Thiruvidaimarudur – 612 104. and such other places as the partners may desire from
time to time.

3. The firm shall carry on the business to engage in the business of money lending
and finance, providing financial assistance through loans to individuals,
businesses, and other entities., and include offering secured and unsecured
loans, charging reasonable interest rates, ensuring proper risk assessment, and
maintaining ethical and professional financial services and such other business
as desired by partners from time to time.

4. CAPITAL OF THE FIRM: Initially the capital of the partnership shall be Rs.5,00,000/-
(Rupees Five Lakhs) contributed by the partners as follows: -

Sl.No Name Amount

1 K. SANKARI 2,50,000
2 P. KIRUPANANDAM 2,50,000

5. That the partners shall be entitled to interest @12% per annum on Capital and any
loan advanced, money deposited by them with the firm or any money contributed as
capital account or current account and otherwise and on their share of profits not
withdrawn and allowed to be detained and utilized by the firm for the purpose of its
business from this date

6. The First & Second Partner of the firm Shall be Managing Partner and They will took
after all the day to day transactions of the Firm and any legal activities in the name of
the firm. The First & Second Partners as working partner will be suitably remunerated
by the way of monthly salary or bonus will be paid a salary of Rs. 15,000/- per month

7. The remuneration payable to the working partners shall be credited to their respective
Capital account/Current account at the end of each financial year, after adjusting
drawings made if any

1. 2.

(Cond…4)
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ACCOUNTS: The firms shall regularly maintain in the ordinary course of

business, true and correct accounts of all its transactions and also of all its assets
and liabilities, the property books of account, which shall ordinarily be kept at the
firm’s place of business. The accounting year shall be the financial year from 1st
April onwards, the accounts shall be closed on the 31st March of every year and
profit and loss accounts shall be prepared on that every year. The balance sheet
shall be properly audited and the same shall be signed by all the Partners. Every
Partner shall have access to the books and the right to verify their correctness.
The Profits and Losses shall be carried at after changing: -

(i) Interest to partners and

(ii) All the expenses & outgoing incidental incurred for the purpose of the
business of the Firm

(iii) Remuneration to the partners which shall be divided between the partners
in the ratio which as follows

Sl.No Name Amount

1 K. SANKARI 50%
2 P. KIRUPANANDAM 50%

8. OPERATION OF BANK ACCOUNTS: The firm shall open a current account in the
name of “SRI LAKSHMI FINANCE” at any bank and such account shall be operated
upon by K.SANKARI either P. KIRUPANANDAM as per terms declared from time to
time to the Banks.

9. BORROWING The written consent of all Partners will be required for the partnership
to avail credit facilities from any financial institution.

10. DURATION OF PARTNERSHIP: The duration of partners shall be at will and can be
dissolved at any time with the mutual consent of all the parties to this deed. However,
if any loans are pending with banks and other financial institutions, the partnership
shall be closed only after closing the same.

1. 2.

(Cond…5)
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11. RETIREMENT: Any partner may retire from partnership firm by giving not less than
three months ‘notice in writing to the other partner. The retiring partner shall be entitled
only to the amount standing to the credit in the books of accounts of the firm on the
date of his retirement, which shall include share of profit & losses up to that date. The
partnership may take in at any time, any new partner or partners on such terms &
Conditions as may be agreed between them. The retiring partner shall not be entitled
for any goodwill.

12. THE POWERS AND DUTIES OF THE PARTNERS, which shall be exercised at their
sole discretion with mutual consent (written/verbal) from partners, shall include but not
be limited to the below:
i. – To convert this partnership Firm in LLP or Pvt. Ltd. or Ltd. Company as and
when Partner opts to do so.

ii. – To acquire, purchase, takeover and /or amalgamate business or undertakings

of companies or firms which under existing circumstances, from time to time,
may conveniently or advantageously be combined with the business of the firm,
to amalgamate or merge with companies whose business are so acquired,
purchased or taken over and/or to enter into any agreement with the object of
acquisition of such undertaking and/or business.

iii. – To go into acquisition, purchase, takeover and/or amalgamate of other entities

or vice versa as and when Partner opts to do so.

iv. – To sell, mortgage, assign or lease and in any other manner feel with or
dispose off the firm or properties of the firm or any part thereof, whether
movable or immovable for such consideration as the Partners of the firm may
think fit.
To sell, mortgage, assign, lease or dispose off the properties/assets of the
firm (including movable and immovable) to any person, company or other
entity at mutually agreed prices by the partners.

v. If any of partners desire to alter, modify cancel any one of the provisions or add
new provisions, the partner can record the same in an supplementary
partnership deed of Rs. 100/- Stamp Paper after getting consent of the other
partners in writing.

1. 2.

(Cond…6)
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13. That the matters for which no provisions have been made in this deed may be decided
upon by mutual consent of the parties in writing.

14. That unless provided here in before, all the matters and the right and liabilities of the
partners be governed by the provisions of the Partnership Act 1932.

15. Any Licence or approval in the name of any of the Partners mentioned hereinabove,
shall be treated as the asset of the Firm.

In witness where of these partnership all the partners here to have affixed their
signature in the presence of witness this 31st day of December, 2024.

1. 2.

Witness:-

1.

2.