RETIREMENT DEED

This Retirement deed of partnership is executed on between:1.

Sh. S/o Sh. resident of House . hereinafter

called the party of the first part. Retiring partner.

2.

Sh. S/o Sh. resident of

hereinafter called the party of the Second part. Retiring partner.

Whereas aforesaid parties i.e. party of the first & second & third & fourth & fifth
parts joint hands in partnership and floated a firm under the business of
Manufacturing & Resale of .., and allied Products in Partnership under the
name and style of with its office at . on the
strength of regular partnership firm executed on ...
And whereas the party of 1st & 2nd parts desired voluntarily to be retired from the said
partnership firm by surrendering all their rights, interest in the partnership business/
properties in favour of the continuous partners 3rd & 4th & 5th parts.
NOW THIS DEED DISSOLUTION OF PARTNERSHIP WITNESSETH AS
UNDER:-

1.

That the parties hereinbefore mentioned declare that the partnership between
them carried so long, henceforth be deemed to have dissolved by mutual
consent w.e.f. ..

2.

That the party of the 1st and 2nd parts retired from the partnership firm by
surrendering all their rights, interests in the partnership business, properties in
favour of parties of the 3rd & 4th & 5th parts, who is reffered as continuing
partner.

3.

That the accounts of the assets and liabilities as well of the profits and losses
of the partnership business up to date .. has been determined, settled
by the parties as per entries made in the books of accounts of the dissolved
partnership firm, no party has any doubt, dispute with reference to the
accounts of the partnership firm settled till to date either with regard to profit
and losses of the partnership business or assets and liabilities.

4.

That as per settlement arrived at with mutual consent of the parties, the
retiring party now have no claim, right, interest in partnership business or in
its properties, securities, licenses, Ugrahi and in other assets and liabilities.

5.

That the firm has been dissolved and retiring parties i.e. 1 st & 2nd parts have
retired from the partnership business with free consent and own will without
any pressure from any side.

6.

That the retiring party has released, relinquished and surrender all their rights,
interest in the partnership business properties, licenses, Ugrahi, securities,
stocks assets and liabilities of the dissolved partnership firm in favour of
parties of the 3rd & 4th & 5th parts i.e. continuing partner who may hereinafter
alone or in partnership continue and carry on the business of the dissolved
partnership under the same name and style of ...

7.

That it has been agreed that the continuing parties or their representatives shall
hereinafter be entitled to the assets of the firm including its properties,
goodwill, securities, licenses, assets and liabilities and shall also be
responsible for the debts, liabilities of the past and the future as well and do
hereby indemnify and agrees to keep the retiring parties against all demands,
costs, losses etc. in respect of the business of the dissolved partnership firm.

8.

That if any income tax, sales tax, or any other expenditure of tax duty is due
or become due for the business done by the dissolved firm up to ., then

the same shall be borne and paid by the parties keeping in view their share in
the profit and losses of the dissolved partnership firm.

9.

That each party shall sign all documents, statements and execute all such
things which the other party may require fore completely carrying into effect
the provisions of this deed of dissolution of partnership.

In Witness whereof the parties to this deed have put their respective hands on this
dissolution deed of partnership on this in presence of the witnesses as
under:
Witness
Signature

1.

Party of the first part

(Retiring Partner)

Party of the Second part

(Retiring Partner).
2.
Party of the third part
(Continue Partner)

Party of the fourth part

(Continue Partner)
Party of the fifth part
(Continue Partner)