DEED OF PARTNERSHIP
THIS DEED OF PARTNERSHIP executed on 18 th day of December, 2008 by and
between: -
1) MUKHAR AHMAD IMRAN BAJWA S/O CH. MUHAMMAD AKHTAR BAJWA,
R/O House No.19 East, Sadiq Bazar, Rahim Yar Khan, NIC No. 31303-6178110-1,
party of the 1st Part.
2) SHAZIA IMRAN BAJWA W/O MUKHAR AHMAD IMRAN BAJWA, R/O House
No.19 East, Sadiq Bazar, Rahim Yar Khan, NIC No.31303-1671046-2, party of
the 2nd Part.
WHEREAS, the parties as mentioned above have agreed to do the business in
partnership in the name & style of M/S NEW ALULINKS, East Sadiq Bazar, Rahim
Yar Khan.
AND WHEREAS, it has been decided to produce in writing the term and conditions
of the partnership business so that the relations may remain clear and out of doubt.
HENCE THIS INDENTURE WITHESSETH AS UNDER: -
1. That the partnership business shall be carried on under the name and style of M/S
NEW ALULINKS, East Sadiq Bazar, Rahim Yar Khan. However, the branch or
branches of the firm may be opened any where in Pakistan.
2. That there are no hard & fast rules as regard the capital contribution. It shall be as
per books of accounts and shall be provided by the partners as and when required.
The Initial Capital will be contributed as under: -
MUKHAR AHMAD IMRAN BAJWA 55%
SHAZIA IMRAN BAJWA 45%
3. That the Profits & Losses will share according to the ratio of capital contribution.
4. That the accounts of the firm shall be closed on June 30, of each year.
5. That MUKHAR AHMAD IMRAN BAJWA Managing Partner of the firm. He is
authorized to give tenders, to receive payments to do all kinds of works for the
benefits of the firm & to do business with Banks including Loans etc.
6. That the Bank account if any shall be in the name of the Firm in one or more Banks
and such account shall be operated by the signature of Managing Partner only.
7. That the partners may withdraw the reasonable amounts for their personal
household expenses and the amounts so withdrawn shall be debited to their
personal accounts.
8. That the firm shall not be responsible for the personal liabilities of the partners.
9. That each partner shall be individually responsible for all Govt. Dues.
10. That the partnership is at will.
11. That the partners may at any time by mutual consent alter, vary or modify such of
the terms of the deed as may be desired by them and the same alterations,
variations and modifications shall form part of the deed in the manner decided upon.
12. That in case of difference of dispute between the partners with regard to any matter
relating to the affairs to the firm shall be settled through arbitration according to Law.
13. That the Firm may avail loan/Financial Assistance from any financial institution/
Bank for the business of the Firm.
14. That for all other matters for which no specific provision has been made in this
indenture, the provision of the partnership Act 1932, shall be applicable.
15. That the outgoing partner can sell his share only to the remaining partner. The
share will be sold at the mutual agreed prices.
16. That the Managing Partner of the firm is authorized to negotiate with bank and for
availing financial accommodation on behalf of the firm.
IN WITNESSES WHEREOF THE AFORESAID PARTNERS SET THEIR RESPECTIVE
HANDS TO THESE IN THE PRESENCE OF THE WITNESSES ON THE DAY AND
YEAR ABOVE MENTIONED.
WITNESSES SIGNATURE OF PARTNERS
1. Liaquat Cheema S/O Razzaq Cheema, 1) MUKHAR AHMAD IMRAN BAJWA
R/O Bankers Street, Church Road,
Rahim Yar Khan.
2. Asad Cheema S/O Razzaq Cheema, 2) SHAZIA IMRAN BAJWA
R/O Bankers Street, Church Road,
Rahim Yar Khan.
