DEED OF PARTNERSHIP

THIS DEED OF PARTNERSHIP is made and entered into on this 16 th

day of OCTOBER, 2018 between (1) NEERAJ KUMAR (2) MD
AURANGJEB ALI, all Indians, Inhabitants ,referred to respectively as

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 parties of FIRST, SECOND parts (which expression shall mean and
include their heirs, executors, administrators and assigns).
AND WHEREAS all the partners hereto are desirous of recording terms,
conditions and stipulations of the new partnership in writing. AND NOW THIS
INDENTURE WITHNESSTH AS UNDER:

1. The business of the partnership shall be carried on under the firm name
and style of MESSRS. ASC INFRA LAB AND CONSULTANCY
SERVICES, situated at SHOP NO.11,HETKARALI, NERAL
KALYAN HIGHWAY,NERAL,KARJAT,RAIGAD-410101.However,
the partners hereto shall be at liberty to carry on the said business under
such other name and style and at such other place or places as they
mutually agreed upon from time to time.

2. The business of the partnership shall be that of MATEIAL TESTING

SERICES AND ALLIED LABORTARY SERVICES provider.
However, partners hereto shall be entitled to carry on any such business
or businesses as may be mutually agreed upon.

3. The partnership shall be effective from 16th day of OCTOBER, 2018, and
the duration of the partnership shall be AT WILL of the partners.

4. Proper books of the partnership business shall be kept and entries therein
shall be made of all transactions and things pertaining to the partnership
business. All books of accounts, documents and papers of the
partnership shall be kept at the business premises and the same shall not
be removed there from without the consent of all the partners hereto.
Each partner shall have free access to the said books and documents at

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 all times and shall be at liberty to take such extracts there from as they
may think fit and proper.

5. The accounts of the partnership shall be made up on 31 st day of MARCH

every year and the balance sheet disclosing the result of activities done
shall be prepared and furnished to each partner who shall be bound
there by unless some manifest error is discovered in which case the said
error shall be rectified
6. All the partners of the firm shall look after the day to day working of the
business and shall draw remuneration as under :

i. total remuneration payable to the partners for the whole

accounting year or a part thereof shall be ascertained as under:
PROFIT / LOSS TOTAL REMUNERATION
PAYABLE

a) On the Book-Profit up to Rs. Rs. 150000/- or 90% of Book-

300000/- or in case of losses. Profit whichever is more.

b) Where the Book-Profits Rs. 150000/- plus 60% of the

exceed Rs.300000/. amount by which the Book-
Profit exceeds Rs. 300000/-.

EXPLANATION:

For the purpose of this clause, the expression “Book-Profit” shall

carry the same meaning as defined under the provisions of the
Income Tax Act, 1961 or any statutory modification or
reenactment thereof, for the time being enforced. The

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 remuneration ascertained as above shall be divided amongst the
partners as under:
1. SHRI NEERAJ KUMAR 50.00 %
2. SHRI MD AURANGJEB ALI 50.00%

ii. The amount of total remuneration ascertained as aforesaid shall

be credited to the account of the partners. They will devote their
time and attention in the conduct of the affairs of the firm as the
circumstances and business needs may require. The credit shall
be given on 31st March every year or on the day of early
determination of partnership in between, due to any change in the
constitution of the firm, as the case may be.

iii. (a) It is further agreed that the partners may agree from time to
time to pay additional remuneration, salary, bonus
commission or grant other benefits considering efforts put in
by any partner or partners.

(b) The partners may also mutually agree to pay or receive

lower or no remuneration than they are entitled to or agree to
reduce or waive the above remuneration considering the
losses suffered by the firm or the smallness of the profits or
financial difficulties being faced by the firm or the need to
conserve the resources of the firm or for any other reason,
which the partners may think proper.

7. The capital required for the efficient conduct of the business shall be
brought in by the partners hereto and the same shall carry interest @

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 12%. Any capital which cannot be contributed by the partners shall be
borrowed from banks, financial institutions or other agencies on interest
at the rate prevailing in the market.

8. The profit or losses of the partnership business after deducting

remuneration and interest payable to partners and all the other expenses
shall be shared by all the partners as under :

1. SHRI NEERAJ KUMAR 50.00 %

2. SHRI MD AURANGJEB ALI 50.00%

9. The bank account or accounts of the partnership shall be opened in the

name of the firm with any bank or banks and shall be operated upon
under the joint signature of any TWO of the partners hereto.

10.Each partner shall :

a. Carry on the business to the greatest common advantage of the
partnership firm.

b. Be just and faithful to other partners and at all times give to other
partners full information and truthful explanations of all matters
regarding the affairs of the partnership and afford every assistance
in their power in carrying on the business for their mutual
advantage.

c. Be jointly and severally liable for all acts of the firm and
transactions entered into so long as they continue to be partners of
the firm.
11.Each partner shall have the right :

a. To carry on the business on behalf of the firm.

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 b. To enter into any transaction or transactions for and on behalf of
the firm creating contractual obligations on the partnership.

c. To sign such papers and documents for and on behalf of the firm as
are necessary in the ordinary course of the business.

d. To refer cases for arbitration for all disputes which may arise in the
ordinary course of business
e. To bind the firm for all acts and obligations incurred in the
ordinary course of businesses for and on behalf of the firm.

12.No partner shall without the consent of other partners :

a. Lend any money to any person or persons with or without interest

with or without security.

b. Give any security or promise for payment of money on account of

the firm unless in the ordinary course of the business.

c. Enter into any bond or become bailee or surety for anything

whereby the partnership may be endangered.

d. Enter into any transaction or transactions detrimental to the

commercial interest of the firm.

13. That any partner may retire from the partnership by serving at least 3
months notice on other partners and in that case remaining partner/s
shall be entitled to continue and run the business under the same name
and style of MESSRS. MESSRS. ASC INFRA LAB AND

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 CONSULTANCY SERVICES,G Or any other name which they may
think fit and proper without dissolving the firm.

14. On dissolution of the partnership the business of the partnership shall be

wound up and accounts taken, assets as on the dissolution shall be
realized as provided by the PARTNERSHIP ACT, 1932, or any
statutory modification thereof for the time being in force and any of the
partners shall be at liberty to bid for any of the partnership assets.

15. If any of the partners shall be adjudged insolvent during the

continuation of the partnership his share in partnership business shall
forthwith cease and the insolvent partner shall be deemed to have retired
from the partnership as and from the date of the order adjudging him
insolvent.

16. The death of any partner shall not dissolve the business of the
partnership unless the surviving partners decide otherwise.

17. All disputes which may arise between the partners or legal
representative of one and remaining partners or between their legal
representatives and whether during at the determination of the
partnership and whether in relation to the interpretation of this deed or
to any act or omission of either party to the dispute or as to any act
which ought to be done by the parties in dispute or any of them into any
other matter or matters whatsoever touching the partnership affairs,
shall be decided by referring to an arbitrator as provided under the
INDIAN ARBITRATION ACT, or any statutory modification thereof
for the time being in force and the provisions of the said act shall apply
to such arbitration.

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IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed
their respective hands the day and year first hereinabove written.

SIGNED AND DELIVERED

by the within-named and
SHRI NEERAJ KUMAR

SIGNEDAND DELIVERED
by the within-named and
SHRI MD AURANGJEB ALI

In the presence of RAJESH KRISHNA

KARALE

AT: NERAL , TAL: KARJAT,

DIST: RAIGAD

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