DEED OF PARTNERSHIP

This Deed of Partnership is made and executed on this 02nd day of DECEMBER, 2024
by and between:

1. Mr. ARAVIND SWAROOP SATARLA PHILIP, S/o. SATARLA ADAM PHILIP,

aged about 42 years, Occ: Business, R/o. H.No. 3-125-88/189/123, Plot No.189,
Street No.1, Vivekananda Nagar Colony, Boduppal, Medipally, Medchal Dist,
Telangana State, India - 500092
(Hereinafter called the “FIRST PARTY”)

2. Mr. AUDHARI VINOD KUMAR, S/o. AUDHARI ANJAIAH, aged about 41 years,
Occ: Business, R/o. H.No. 10-1-85, Ramnagar, Karimnagar Dist, Telangana State,
India - 505001
(Hereinafter called the “SECOND PARTY”)

3. Mr. GAANDLA MANOHAR RAO , S/o. GAANDLA VENKATAIAH, aged about 50

years, Occ: Business, Resident H.No. 5-87/C, Kanagarthi Odela Mandal,
Kanagarthi, Peddapalli, Telangana State, India. 505152
(Hereinafter called the “THIRD PARTY”)

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 Whereas the above-mentioned parties have considerate it profitable to carry on
the business in Partnership for the mutual benefit of all.

AND WHEREAS both the Parties have felt it convenient and expedient to reduce
the terms of Partnership in to writing lest there might be misunderstanding at a
later date hence this deed of Partnership.

NOW THIS DEED OF PARTNERSHIP WITNESSES THE FOLLOWING:

1. NAME OF THE FIRM: the name of the firm shall be M/s. “AVM
ENTERPRISES”

2. PLACE OF BUSINESS: that the partnership Business shall be carried on with

its principal place of Business at H.No:3-125-88/189/123, Plot No.189,
Street No.1, Vivekananda Nagar Colony, Boduppal, Medipally, Medchal
Dist-500092, Telangana State, India. and such other Place or places as may
be decided by the partners from time to time.

3. COMMENCEMENT: that the business of Partnership namely M/s. “AVM

ENTERPRISES” shall commence from 2ND DECEMBER 2024.

4. NATURE OF BUSINESS: The Partnership shall carry on the business of real

estate, residential/commercial builders or developers, sales of building,
Home Loans (Purchase, Mortgage, Constructions Etc., Insurances (Property,
Life & Vehicle) and other related materials.

5. ACCOUNTING YEAR: the Accounting year of the Partnership shall be the

financial year which commenced on 1st April, and ends on 31st March of the
next year.

6. SHARE IN PROFIT & LOSS: the Profit and Losses of the firm be appointed
divided and borne by the partners as follows:
SL. NAME OF THE PARTNERS SHARE SHARE
No. IN PROFIT IN LOSS
1. ARAVIND SWAROOP SATARLA PHILIP 33.33% 33.33%
2. AUDHARI VINOD KUMAR 33.33% 33.33%
3. GAANDLA MANOHAR RAO 33.33% 33.33%

7. CAPITAL: The initial capital of the partnership shall be Rs.1,00,000 to be

contributed by the partners equally. The further Capital that may be required
for the partnership business shall be contributed from time to time by the
parties herein according to their conveniences in the necessity of funds.

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 Capital to the credit of the partners shall carry interest @12% per annum on
the credit balance.

8. BORROWINGS: Further, if any funds required for the partnership the same
can be borrowed from the Private Individuals, Banks, Financial Institutions
etc., Any interest on such borrowed funds for the purpose on partnership
business shall be treated as the expenditure of the partnership. Managing
partners namely Mr. Aravind Swaroop Satarla Philip and Mr. Gaandla
Manohar Rao is hereby authorized to borrow the funds when required.

9. DRAWINGS: Each Partner shall draw such amounts as may be decided

mutually from time to time and according to the availability of funds and the
requirements of each partner

10. BANK ACCOUNT: The Firm shall open an Account with such bank or Banks as the
partners may from time to time agree upon and the same shall be
operated/transacted or maintained by any of the two partners out of first party
namely Mr. Aravind Swaroop Satarla Philip, second party Mr. Audhari Vinod Kumar
and third party Mr. Gaandla Manohar Rao

The drawing power on the Cheque/Cheques shall also be given to any of the two
partners as mentioned above. It means any of the two partners as mentioned above
shall have to sign on the cheque/cheques so as to clear from banks.

11. MANAGING PARTNER: That the First Partner namely Mr. Aravind Swaroop
Satarla Philip shall be the Managing Partner who shall be in-charge over the conduct
of the business and day to day affairs of the firm with all general powers including
general control and management of the partnership business supported by all such
incidental powers to do all necessary acts, deeds and things deemed necessary for
carrying on the business of the partnership effectively in addition, the managing
partners is especially empowered to

a) raise loans for the partnership business with the consent of other partners.
b) enter into contracts with third parties.
c) raise bills.
d) sign drafts, bills, cheques and all other negotiable instruments.
e) give valid and effective discharge or receipts for the money received.
f) issue notices and execute, sign and make affidavits, petitions and representations,
contracts, vakalats, appeals, circulars and statements.
g) represent the firm before all the Government, Quasi –Government authorities, bodies
and legal and quasi legal forums.

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 h) Entertain consultation with other partners; settle the issues and disputes in connection
with or arising out of the partnership business.
i) Hypothecate or mortgage the properties both movable and immovable of the
partnership business.
j) Appoint employees, fix their terms and conditions and terminate them.

12. NOTICE: Any notice, hereby required or authorized to be given to any of the
said partners, shall be sufficiently given by leaving the same addressed to
him/ her at the principal place of business of the said firm.

13. ADMISSION OF NEW PARTNERS: Any New Partner(s) may be admitted to

the partnership by unanimous consent both partners. No partner shall assign
his/ her share in the partnership to any other person without prior
permission in writing of the other partner.

14. RETIREMENT: If any partner is desirous of retiring from the firm, two
months advance notice in writing of his/ her intention shall be required to be
given to the other partners. The partner shall retire only after settling the
accounts with partnership and other partners.

15. DISSOLUTION ON DEATH etc.,: Upon retirement or death of any partner the
partnership shall not be automatically dissolved and shall not come an end,
but the existing partners may continue the business by themselves or by
adding new partners as may be necessary for carrying on the partnership.

16. ABBITRATION: Should any different of opinion or dispute arise between the
parties to these presents on any matter, the same shall be resolved by a
reference to an Arbitrator according to INDIAN ARBITRATION ACT.

17. AMENDEMENT: In case of any amendment(s) is/are required to this

Partnership deed, it shall be sufficient if such amendment is / are reduced in
writing on Rs.10/- or more worth Non-Judicial Stamp Paper which shall
become part and parcel of this deed.

18. PARTNERSHIP ACT: In case, this partnership deed is silent on any point(s)
the provisions of INDIAN PARTNERSHIP ACT, 1932 shall be applicable.

19. GENERAL: That the above terms and conditions of the partnership are
agreed upon by all the parties to these presents by their free will, without
anybody’s force and they are binding on all of them, and their legal,
executors, assigns etc

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 IN WITNESS WHEREOF the Partners mentioned above set their hand to this
deed on the date and month mentioned above at Hyderabad.

WITNESSES: SIGNATURE OF THE PARTNERS

1. 1.

(ARAVIND SWAROOP SATARLA PHILIP)

2.

(AUDHARI VINOD KUMAR)

2. 3.

(GAANDLA MANOHAR RAO)

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