1. (PLEASE COMPLY AS PER RED LETTERING – THNX)
DEED OF PARTNERSHIP
THIS INDENTURE OF PARTNERSHIP is made and entered into at Mumbai on
this day of ,BETWEEN :
(PLEASE GIVE FULL NAME OF EACH PARTNER- IT IS MUST)
MRS. SHALINI TANDON , adult, Indian Inhabitant and having her address at B2 / /
501 Rutu Estate, off. Ghodbunder Rd, Patlipada, Thane (w), Mumbai – 400 607,
hereinafter referred to as the “PARTNER” in this deed i.e. party of the First Part
(which expression shall unless it be repugnant to the context or contrary to the
meaning thereof mean and include her heirs, executors, administrators and
assigns.)
MRS. SALONI BHALLA, and having her address at 45/602 Heritage city , M.G. Road,
Gurgaon-122 002, hereinafter referred to as the “PARTNER” in this deed i.e. party
of the Second Part (which expression shall unless it be repugnant to the context or

2. contrary to the meaning thereof mean and include her heirs, executors,
administrators and assigns.)
MRS. AMITA REDEKAR, and having her address at 318/2, Shri Shiv Sadan Soceity,
Nanda Patkar Road, Vile Parle (E), Mumbai -400 057, hereinafter referred to as the
“PARTNER” in this deed i.e. party of the Third Part (which expression shall unless it
be repugnant to the context or contrary to the meaning thereof mean and include
her heirs, executors, administrators and assigns.)
MRS. TASNEEM BOXWALLA, and having her address at 402 Shree Ganesh Apt, 99-
103 Mathar Pakadi Road, Mazgaon, Mumbai 400 010, hereinafter referred to as the
“PARTNER” in this deed i.e. party of the Four Part (which expression shall unless it
be repugnant to the context or contrary to the meaning thereof mean and include
her heirs, executors, administrators and assigns.)
All the parties’ hereinabove have decided to enter into the partnership business as
per mutual agreement.
WHEREAS the parties hereinabove are desirous of recording the terms and
conditions of this Partnership in writing and hence this deed.
NOW THESE PRESENTS WITNESSETH and it is hereby agreed by and between the
parties as follows:-
Name:
1) This partnership business shall be carried on in the name and style of
M/s. EDUFOOTSTEPS It may be carried on by any other name which is
mutually agreed by all the partners.
Commencement:
2) The business of this partnership firm has commenced & shall be deemed
to have been commenced on & with effect from (PLEASE GIVE EXACT
DATE HERE.)
Nature of Business:
3) This partnership firm shall carry on the business of Education Software
which will be catering services to schools and colleges at a later stage we
intend to get in to technical services also like providing GPRS, RFID,
Biometric etc. The firm may carry on any other business as may be
mutually agreed by all the partners from time to time. (PLEASE CHECK

3. EXACT NATURE OF BZ. HERE.) Does it development or trading, servicing.
Pl tell.
4) The partnership shall be the partnership AT WILL.
Address:
5) The office of this partnership firm shall be situated at :
5, Vishnu Sadan, Joshiwadi, Near Gomantak Hall, Vile Parle (E) Mumbai
400057 or at such other place as mutually agreed by all the partners.
Interest on Capital:
6) It is hereby agreed by all the partners that interest at 12% p.a. shall be
given by the firm on credit balances in capital, current, loan or any other
a/c of the partners. This interest shall be computed generally as on and
credited to the partner’s a/c on the last day of the Accounting year. This
interest shall be paid/provided before payment/ provision of salary or any
remuneration to the partners.
It is stated that this 12% rate of interest p.a. payable on partner’s capital
and loan a/c is as per the relevant provisions of Income Tax Act which is
maximum allowed. Any revision or change in this rate of interest and
remuneration to partners as per relevant amendment in the Income Tax
Act shall compulsorily change the rate specified in these paragraphs. It
means that any such change in the rate of interest on capital and
remuneration to the partners by the amendment in the Income Tax Act,
shall have mandatory effect in this deed, from the date as specified in this
context by Income Tax Act. Thus any variation in the rate of interest and
the remuneration as per relevant provisions of the Income Tax Act shall
be deemed to vary the rate of interest to be given to the partners’ capital,
loans etc. and remuneration to partners from the effective date as per I.
Tax Act. No specific deed may be necessary to give effect to the Change in
interest and remuneration to partners as per amendments in the Income
Tax Act.
Any or all the partners may not be given any interest on capital or may
take interest lesser than mentioned herein above if informed by them to
the firm for any period specified by her/them.
7) It is expressly agreed by all the partners that each of them shall devote
their time, energy, attention, skills in the conduct of this business and
affairs of this firm. The business activities of the firm shall be carried
on by all partners, with such division of duties as mutually agreed
from time to time. all the partners shall be working partners and they
shall be paid remuneration in the form of salary as mentioned in this deed
and based on the book profit of the firm. The total remuneration payable
to all the working partners shall be worked out as under :-

4. Book Profit of the firm for the Remuneration payable by the
year firm
i) In case of loss or In case the Rs. 1,50,000/- or 90% of the
book profit is upto Rs. 3,00,000. book profit whichever is higher
ii) On the Balance book profit 60% of the book profit
exceeding Rs.3,00,000 for the year
Explanation: For the purpose of this clause the expression ‘Book
profit’ shall mean “Book profit as defined in s.40(b) of I.T. Act , 1960
& as per any statutory modification or re-enactment thereof , for the
time being force” .
The total Remuneration shall be first calculated as per above slabs.
This would be the allowable remuneration. This allowable remuneration
shall be paid as salary to all the working partners in accordance with
their profit sharing ratio mentioned herein below in this deed . The salary
payable by the firm to the partner shall be deemed to have been accrued
during the year but for the sake of simplicity in accounting, the
remuneration /salary entry shall be passed to the credit of partner’s capital
/ current account of the partners on the last day of the year except
otherwise desired by the partners. Further in absence of any profit for
any year, or for insufficient profit for the payment of salary to
partners, all or anyone of the partners may agree for lesser salary or no
salary for that year.
“ In case any of the partners is considered to be, for Income Tax
purpose, not a working partner, the remuneration in accordance with
this clause credited to his account shall reverse to the Firm and shall
be redistributed to the remaining partners fully in their profit- sharing
ratio.” This clause shall be construed to mean that if at anytime
remuneration is disallowed for Income Tax purpose to the Firm, the
Firm is entitled to make good the amount disallowed from partners
Account and/or remuneration due to them or from any other source.
Such right of recovery, it is agreed, shall have the effect of making the
entitlement to the remuneration conditional upon its allowance for
Income Tax purpose”.
8) The net profit of the partnership business shall after meeting all necessary
costs, charges, expenses and partner’s salary, interest, other remuneration
etc. incurred in carrying on the said partnership business, be divided as
mentioned herein under and they shall in like proportion bear the losses.
Further the Working partners shall be paid salary also in the following ratio:

5. MRS. SHALINI TANDON 25%
MRS. SALONI BHALLA 25%
MRS. AMITA REDEKAR 25%
MRS. TANSEEM BOXWALLA 25%
9) That the capital of the partners in this partnership firm shall be
contributed mutually by all the partners. Further the funds required by the
firm shall be brought by the partners as their capital or loans as decided
by all the partners mutually. Initial capital of the firm shall be Rs. 50,000/-
10) The business of the partnership firm shall be looked after by all the
partners and they shall act diligently and intelligently in the interest of the
partnership concern.
11) The firm may open bank account with one or more banks as mutually
agreed by the Partners. This bank account shall be operated by any one
partner. The partners may change this instruction by mutual consent of all
the partners in writing.
12) All necessary and proper books of accounts shall be kept by the firm. The
accounting Year of the firm shall be from 1 st April to 31st March every year.
First such accounting year shall end on 31st March, 2013. At the end of
every accounting year, an account shall be taken of all the assets and
liabilities and the Profit & Loss A/c of the partnership. Profit & Loss of the
partnership shall be then divisible among them in accordance with the
provisions of this deed.
13) That none of the partners can retire or withdraw from the partnership
concern without giving two months notice in writing of his intention to
retire. But the retiring partner shall be responsible for the liabilities in
connection with the partnership business, outstanding up to the date of
retirement and shall to pay off her/their share of such liabilities before
her/their retirement. No partner shall be entitled to any Good-will on
retirement or otherwise.
14) That none of the partners shall stand surety or give any guarantee to / for
any third party or parties on behalf of this partnership firm without having
the consent of the other partners in writing.

6. 15) That none of the partners can mortgage or pledge her share in the
partnership firm with any other party or parties without having the prior
consent of the other partner in writing.
16) That the partnership firm shall indemnify the partners in respect of
expenses incurred in the ordinary course of business or for protecting the
partnership firm from any loss or losses.
17) That the partners without the consent of the others:
a) Shall not Compromise or compound (except upon payment in full)
release or discharge any debts due to the partnership firm.
b) Shall not at any time make any admission of liability in respect of any
claim alleging breach of duty or negligence by the partnership.
c) Shall not dispose of by loan, pledge, sale or otherwise, any part of the
partnership property.
18) In the event of death of any partner, this partnership shall not be dissolved
19) NOTWITHSTANDING anything stated or provided herein, the partners shall
have full powers and discretions to modify, substitute, alter or cancel the
terms and conditions of THIS PARTNERSHIP DEED in any manner
whatsoever as they think fit, by mutual Agreement of all the partners.
20) In case of any dispute arising between the partners or their legal
representatives, the same shall, which shall either during the partnership
or after the termination thereof arrived between the partners or their
representatives or between any partner or partners, touching these
presents or the construction or application thereof or any clauses or thing
therein contained or any account, valuation, division, debts or liabilities to
be hereunder or as to any act, deed of omission of any partner or as to
any other matter in any way relating to partnership business of the affairs
thereof or the rights, duties, liabilities of any person under these presents
shall be referred to a single arbitrator, to be appointed in case, if parties
agree upon one, otherwise two or more arbitrators to be appointed by
each party to the difference in accordance with the subject to the
provisions of the Indian Arbitration Act, 1940 or any re enactment thereof
for the time being in force and the award or awards of such arbitrator or
arbitrators as the case may be, shall be binding on the parties to said
dispute .
IN WITNESS, THE PARTIES HERETO HAVE HEREINTO SIGNED ON THE DAY
AND YEAR FIRST EREINABOVE WRITTEN.
SIGNED, SEALED AND DELIVERED
by the within named Partner

7. MRS. SHALINI TANDON
i.e. the Party of the First Part
in the presence of …………
SIGNED, SEALED AND DELIVERED
by the within named Partner
MRS. SALONI BHALLA
i.e. the Party of the Second Part
in the presence of …………
SIGNED, SEALED AND DELIVERED
by the within named Partner
MRS. AMITA REDEKAR
i.e. the Party of the Third Part
In the presence of …………
SIGNED, SEALED AND DELIVERED
by the within named Partner
MRS. TANSEEM BOXWALLA
i.e. the Party of the Third Part
In the presence of …………