II. The line of business of the firm shall be lay out, construct, build, erect, demolish, alter, layout, re-model or do any other work in connection with any infrastructure including apartments, homes, plazas, multi-storied flat, business offices, shops, markets, warehouses, industrial and commercial buildings, roads, dams, bridges, spillways, highways, reservoirs, airports, seaports, parks, canals, irrigation improvements, amusement parks, convention centres, hi-technology industrial parks, and structures of all descriptions and to equip the same or any part thereof with all or any conveniences, drainage and sewerage facilities, water supply, electric and gas installations, structural or architectural work of any kind whatsoever and for such purpose to prepare estimates designs, plants specifications subject to any permission required by law and approval from competent authorities. Firm can also import all kinds of material required for construction of above mentioned works and can also manufacture them locally if required.
TERMS AND CONDITION
1. NAME AND STYLE :
That the business of the partnership shall be named as “M/S Dilbar Associates and & Developers”
2. CHAIN OF COMMANDS OF THE FIRM
That the first partner shall be chief executive Officer (CEO) of the firm who in this case is “ Zafran Khan ” While the second partner shall work as director . The partners will open the account of the firm with any scheduled bank in Pakistan in the name of the firm and account will be operated by the CEO. In case of absence of CEO, the Director (second partner) can operate the account and sign where required.
3. SHARING PERCENTAGE IN PROFIT AND LOSSES
4. LOCATION OF OFFICE
Both the partners agreed that the Head Office will be situated at “Office No. 22, Sheesh Mehal Plaza , Shahdara Road , Rawalpindi ”. However, the site office can be built as per the requirement of the projects.
5. DURATION OF BUSINESS:
The duration of partnership shall be at will. Any partner wishing to retire from the partnership shall give three months clear notice on expiry of which the partnership in between the partners shall deem to have been discontinued.
6. DISSOLUTION OF BUSINESS:
In case of dissolution of the firm, a general account of the partnership shall be taken as on the date of dissolution and after paying the debts/ liability, the remaining assets shall be divided by the partners in the proportion in which they are entitled to share profit. However, in case of death of any partner, the fate of the firm continuation shall be decided with the mutual of heir/heirs of deceased partner.
7. ARBITRATION :
That in case of any dispute or difference between the partners, the matter shall be referred to Arbitrator, who will be appointed with the mutual consent of the partners. The decision of the said Arbitrator shall be final and binding on both the partner and their legal heirs and representatives.
In witnesses whereof, both the partners have signed this deed with their free will and without any pressures.
First Partner Second Partner
Jabir Naeem Jabir Naeem
CNIC No. 37405-000000-0 CNIC No. 37405-000000-0
Witness No.1 ___________ Witness No.2 ___________