DEED OF ADMISSION OF A PARTNER

by

THIS DEED OF ADMISSION OF A PARTNER executed on this ……… 18th day of September, 20XX (18/09/20XX) at……… by and between:

Mr. A S/o Mr. B aged about…., resident of ………. and Mr. C S/o Mr. D aged about …, resident of ………. (Hereinafter called the “Old Partners”) of the ONE PART.

AND

Mr. E S/o Mr. F aged about…., resident of ………. (Hereinafter called the “New Partners”) of the OTHER PART.

Whereas

  1. Old Partners are carrying on business of ……… under the name and style ………….under partnership agreement dated 11th September 2023 (Hereinafter called the “Firm”).
  2. On request of the New Partner, Old Partners have agreed to introduce him as a new partner in the firm subject to the terms and conditions set out hereunder.

NOW THIS DEED WITNESSES AS FOLLOWS:

  1. Mr. E is hereby admitted as New Partner in the Firm from the date of execution hereof
  2. That the New Partner shall contribute a capital of Rs. ………. (in words) toward the firm. The total capital of the firm after admission of the new partner shall stand Rs. …………. (in words).
  3. That the old and new partners shall distribute net profit and bear loss in equal ratio.
  4. All the other terms and conditions contained in the said partnership agreement dated 11th September 20XX shall be deemed to have been incorporated in this agreement.

IN WITNESS WHEREOF the partners hereto have signed this day on the date above written in the presence of the following witnesses.

WITNESS 1                                                                          OLD PARTNER

                                                                                           OLD PARTNER

WITNESS 2                                                                          NEW PARTNER

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