“Formation of Partnership Deed”

By

DR. MAHESH THAKARROLL # MBA (B & F)

“Reputation and learning are akin to capital assets, like the good will of an old partnership… For many, they are the only tools with which to hew a pathway to success. The money spent in acquiring them is well and wisely spent.”

4. DOCUMENTS GENERALLY REQUIRED

TO BE PREPARED UNDER VARIOUS ACTS:(i) Indian Contract Act:

Agreements, MOUs, guarantees, indemnities, power of attorneys and all other documents not specifically covered elsewhere.

(ii) Companies Act:Memorandum and Articles of Association, resolutions, minutes, proceedings relating to takeovers, mergers, scheme of amalgamation, demergers and connected documentation, Prospectus.

(iii) Indian Partnership Act:Partnership deeds, reconstitution, resolution, retirement of partners

(iv) Transfer of Property Act:Sale deeds, lease deeds, gift deeds, exchange of property, mortgage, documents, agreement for sale, construction and development agreements, release deeds.

(v) Intellectual Property rights:Copyright, relinquishment of copyright, trademarks and its assignments, patents’ registration and assignment, registration of designs, franchise agreements, etc.

(vi) Banking transactions, related documentation: Sanction letters, board resolutions, hypothecation and mortgage documents, consortium documents.

(vii) Industrial and labor laws: Appointment, apprenticeship, disciplinary proceedings, charge sheets, departmental inquiries, retrenchment, schemes for gratuity, provident fund trust, contract labor, etc.

(viii) Insurance laws: Insurance policies, assignments and other connected documents

(ix) Arbitration laws: Arbitration agreement, international arbitration agreements, notices for arbitration, submissions before arbitrators, proceedings for challenge to arbitration award, etc.

(x) International agreements: Agreements between the parties/corporates having different nationality and governed by different laws, treaties and protocols, conventions applicable to and governing the situation.

(xi) Testamentary and family laws: Will, codicil, cancellation of will, family settlement, creation of trust, family partition, marriage and divorce, intervous and testamentary succession, adoption deed.

(xii) Other financial transactions: Commercial papers, related documentation, standby facility, consequences of default

(xiii) Other miscellaneous documents: Formation of societies, NGOs, S. 25 companies, financial collaborations, joint ventures, bonds, agency, consultancy, supply.

Partnership deed 1% of the capital subject to maximum of Rs. 10000/-

For alteration/dissolution of partnership Rs. 100/-

Power of attorney Rs. 100/- except when power to sell the property is given to attorney. In such case, stamp duty as per sale deed

THANKING YOUTHANKING YOU

You can contribute your suggestions/views on