DEED OF AGREEMENT OF ADMISSION INTO FIRM OF A NEW PARTNER
WHEREAS the said AB and CD are partners in the firm CD & Co. situated in_________and are bound as such under a deed partnership executed by them on the__________ day of__________ 2007 hereinafter referred to as the "partnership deed".
AND WHEREAS the said EF is desirous of being admitted as a member in the aforesaid firm of CD and Co. and invest a sum of Rs___________ AND the said AB and CD are willing to admit him as an additional partner.
NOW THEREFORE THE DEED WITNESSES that in pursuance of the said agreement and in consideration of the said EF bringing in and contributing the sum of Rupees_______ (Rs______________) only as additional capital of the above partnership firm, it is mutually agreed as follows:
1. The parties hereto shall, as from the date hereof be and continue partners for the unexpired residue of the terms mentioned in para________of the partnership deed subject in all respects to the conditions, stipulations, and provisions of the aforesaid partnership deed, so far as applicable, and except as varied by this deed of agreement.
2. The capital mentioned in the partnership deed shall hereafter be changed to the sum of Rupees_______ only and the partners shall hereafter have the undernoted shares in the capital. AB shall have Rs_______ in the said capital; CD shall have Rs________in the said capital; and EF shall have Rs________in the said capital.
3. The profits and losses of the partnership shall continue to be borne by the partners hereto in proportion to their above named respective shares. IN WITNESS WHEREOF the said AB, CD and EF have hereto at_______ signed the day and the year first above mentioned.
1. Sd/A.B. 2. Sd/- C.D. 3. Sd/- E.F.