Here is the Format of partnership deed for IOCL petrol Pump

PURPOSED PARTNERHIP DEED

This DEED OF PARTNERSHIP is executed at _________ on this ____^th October of 2023 between :

PURPOSED Partner Smt. ________________ (hereinafter called the FIRST PARTNER) and Sh. ___________________ (hereinafter called the SECOND PARTNER).

The Expression of all the parties shall mean and include their respective legal heirs, successors, executors, administrators and legal assigns.

WHEREAS the First Party PURPOSED Partner _______________________________________ (Haryana) was Interested and offered to takeover the Company Owned Retail Outlet Dealership of Indian Oil Corporation Limited owned by Smt. ___________, Haryana under the name & style of M/s ___________ FILLING STATION (CC __________) at ___________ Haryana.

AND WHEREAS the First Party has joined hands with ___________, the Second Party to run the business in partnership for betterment of trade, effective control of business and to have sufficient financial resources w.e.f. effective date is and know current

AND WHEREAS both the parties mentioned above have become partners with each other to carry on the business of M/s _________ FILLING STATION at ___________________, Haryana. Partnership on the following terms and conditions as settled upon among the parties.

NOW THIS PARTNERSHIP DEED WITHNESSETH AS UNDER:

1. That name of Partnership Firm shall be M/s A.K FILLINGSTATION.

2. That the principal place of business is at ________________.

3. That the business of partnership concern is and shall be that of running the retail outlet dealership of M/S/HSD and other petroleum products of IOCL.

4. All assets and liabilities of the existing business shall be taken over by the purposed partners and they should keep the corporation indemnified as result of the said change.

5. That the share of partners in the Net Profit or Loss as the case may be, in the partnership business shall be as under

1. Smt. X 50.00%

2. Sh. Y 50.00%

6. That capital shall be contributed by the parties hereto as and when deemed necessary.

7. That the parties hereto shall be entitled to change Interest @18% per annum on the capital contributed by them in the business of the firm.

8. That the accounting year of the firm shall be financial year i.e. from 1st Day _________every year.

9. That the partnership may be dissolved with the consent of all the parties hereto with prior written approval of Indian Oil Corporation Limited.

10. That bank account(s) of the firm may be opened with any bank(s) and account can be operative by any of two and jointly, as agreed by the partners.

11. That the firm shall not be responsible for the personal debts and liabilities of the partners.

12. That regular books of accounts regarding conduct of business shall be kept at the business premises and each party hereto shall be entitled to inspect them during business hours

13. That the partners shall be working partners and will be entitled for remuneration as decided between the partners from time to time.

14. That partnership shall be effective w.e.f.___________________________

15. That none of the parties shall stand surety in any case on behalf of the firm and shall not be responsible for such construct of the any party.

16. hat the first party is not entitled to retire the second party from business without prior written approval of Indian Oil Corporation Limited.

17. That profit and loss account and balance sheet shall be prepared at the closure of every year and the net profit earned or net loss suffered shall be credited, debited to the respective account of the partners in the ratio as specified in Para 5 above.

18. That none of the party shall carry on any speculation business on behalf of the firm.

19. That none of the party shall mortgage, pledge, sell his share or interest in the firm to any outside party.

20. That in all respect matters which are not mentioned herein above in the partnership shall be governed by the provisions of Indian Oil Corporation Limited.

21. There shall be no change in the constitution of firm without prior written permission of Indian Oil Corporation Limited.

IN WITNESS WHEREOF all the partners herein have set their hand on this Deed of Partnership on the Day, Month and Year mentioned above.

WITNESSES:

(First Party)

(Second Party)