If any CS final student knows a fun way to learn drafting kindly share:
The following is a Deed of Agreement of Admisssion of New Partner into a Firm:
This Deed of Agreement is made on the 1st day of April 2012 between Salman Khan son of Salim Khan, aged 40 years resident of Bandra(Mumbai) and Vivek Oberoi son of Suresh Oberoi aged 35 years resident of Virar partners in the firm ASH Corporation of the one part and Abhishek Bachchan son of Amitabh Bachchan aged 34 years resident of Juhu(Mumbai) of the other part.
Whereas the said Salman Khan and Vivek Oberoi are partners in the firm ASH Corporation situated in Mumbai and are bound as such under a deed of partnership executed by them on the 1st day of November 2005 hereinafter referred to as the 'partnership deed'.
And whereas the said Abhishek Bachchan is desirous of being admitted as a member in the aforesaid firm of ASH Corporation and invest a sum of rupees 1000000 and the said Salman and Vivek 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 Abhishek bringing in and contributing the sum of rupees ten lakh( Rs 1000000) 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 to remain partners for the unexpired residue of the term mentioned in Para x 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 sixteen lakh only and the partners shall hereafter have the under noted shares in the capital.
Salman Khan will have Rs 500000 (Rupees Five Lakh)
Vivek Oberoi will have Rs 100000 (Rupees One Lakh)
Abhishek Bachchan will have Rs 1000000 (Rupees Ten Lakh) each in the said capital.
3.) The profits and losses of the partnership shall continue to be borne by the partners hereto in proportoin to their above named respective shares.
In witness whereof the said Salman, Vivek and Abhishek have hereto at Bandra(Mumbai) signed the day and the year first above mentioned.
Witness
1................................ Sd/- Salman
2................................ Sd/- Vivek
3............................... Sd/- Abhishek