Thisagreementismadeatthis Dayof

AGREEMENTADMITTINGANEWPARTNER

THISAGREEMENTismadeatthis...... dayof...... betweenMr.AandBhereinafterjointlyreferredtoastheexistingpartnersoftheonepartandMr.Chereinafterreferredtoasthenewpartneroftheotherpart.

WHEREASMr.AandMr.BarecarryingonbusinessInpartnershipinthenameofM/s.ABandCompanyasfromthedayof...... underandbyvirtueofthedeedofpartnershipdatedthe...... dayof...... enteredintobetweenthem.

ANDWHEREAStheexistingpartnersnowdesiretoadmitthenewpartnerasanadditionalpartnerInthesaidpartnershipandthenewpartnerIsalsowillingthejointhesaidpartnershiponthetermshereinafterprovided.

ANDWHEREASthepresentbookvalueoftheirsharesincapitalcontributionoftheexistingpartnersMr.AandMr.BandintheassetsoftheFirmIsrupees...... andrupees

...... respectivelywhichthenewpartnerhasagreedtoaccept.

ANDWHEREASthenewpartneriswillingtobringinacapitalcontributionofrupees...... IntheFirm

NOWITISAGREEDBYANDBETWEENTHEPARTNERSHERETOASFOLLOWS-

(1) TheexistingpartnersherebyadmitthenewpartnerasapartneralongwiththeexistingpartnersofthesaidfirmcarriedonorinthenameofM/sABandCompanyasfromthe...... dayof...... ,2000.

(2) Thepartnershipbusinesswillbecarriedonthesamenameasabovementionedandatthesameplaceofbusinessasatpresent.

(3) Thebusinessofthepartnershipwillbethesameasatpresentcarriedonandmaybechangedoraddedtowiththeconsentofallthepartners.

(4) Thesharesinthecapitalassetsincludinggoodwillofthefirmasonthisday...... ofthesaidthreepartnerswillbetreatedasfollows-

Mr.A...... 40%Mr.B...... 40%Mr.C...... 20%

(5) ThesharesofthepartiesheretoInthenetprofitandlossesofthepartnershipwillbeasfollows

Mr.A...... 40%Mr.B...... 40%

Mr.C...... 20%

(6) Thedurationofthisnewpartnershipwillbeatwillbutanypartnermayretirefromthepartnershipbyonemonth'spriornotice.

(7) Incaseofdifferenceofopiniononanyquestionregardingbusiness,theopinionofthemajoritywillbefinalandbindingonallthepartners.

(8) Subjecttowhatisotherwiseprovidedhereinthetermsandconditionsmentionedinthesaiddeedofpartnershipdated...... willbebindingonthepartiesasifthesaidMr.Cwasapartytheretoandsubjectasaforesaidthesaidthedeedofpartnershipasamendedbythisagreementwillbetreatedthedeedofpartnershipbetweenthepartieshereto.

(9) ThechangeintheconstitutionofthesaidfirmmadebythisagreementwillbenotifiedorregisteredunderthePartnershipAct,andIncomeTaxAct,asperthelegalrequirementsthereof.

INWITNESSWHEREOFthepartieshaveputtheirhandsthedayandyearfirsthereinabovewritten.

SignedbythewithinnamedMr.Ainthepresenceof

SignedbythewithinnamedMr.Binthepresenceof

SignedbythewithinnamedMr.CInthepresenceof

Disclaimer

Whileeverycarehasbeentakeninpreparingtheabove-mentionedModelAgreement,stillsomemistakesmayhavecreptin.TheModelAgreementareinthenatureofillustrationsandareintendedfortheguidanceoftheusers/persons.AnyoftheModelAgreementmustbeusedbyadjustingthesametosuittotheneedsoftheuser/person.LegalDepartment,GovernmentofGujaratherebydisclaimsanyandallresponsibilityorliabilitythatmaybeassertedorclaimedfrom,orclaimedtohavearisenduetorelianceplacedupontheuseofanyoftheModelAgreementbyanyuser/person.