MEMORANDUM OF UNDERSTANDINGBETWEEN

[Rama Shankar Mishra]AND

[Sunil Kumar Channa]

INTRODUCTION

THIS MEMORANDUM OF UNDERSTANDING (“Memorandum”), dated _________, 201_ between [Mr.Rama Shankar Mishra s/o Shri Munni Lal Mishra (age) R/o 12/57 Geeta Colony Delhi 110031] (“FIRST PARTNER”); and [Mr. Sunil Channa s/o Faqir chand Channa (age) R/o 1925 Gali no 9 Rajgarh Extension Delhi 110031] (“SECOND PARTNER”); collectively referred to as “the Partners”.

PREAMBLE

The abovementioned partners have established a partnership for carrying on business in the name and style of “M/S Sagar Medicose” at X/2859, Street no.5 Raghubar Pura no.2 Gandhi Nagar Delhi 110031 through a Partnership deed, dated April 1,1999.

Due to compatibility issues among partners, they have mutually decided to terminate the existing partnership in near future.The partners have agreed upon the construction of separate shops by equal partition of the existing partnership premises among themselves within the period of Six Months, they have mutually decided to contribute towards the construction cost from their share in the partnership. General Conditions

The Parties hereby agree that the Effective date of the Memorandum shall be the date on which the Memorandum is signed.

The memorandum shall be binding on the parties till the dissolution of the partnership firm.

The parties shall continue to share profits at their existing terms for the remaining period of Six months

Notwithstanding anything contained in the partnership deed, no partner will be entitled extension of time after the expiry of period specified in the memorandum, unless the partners decide otherwise.

Noncompliance of the condition[s] of the memorandum by either party will put an obligation on the defaulting party to indemnify the other

In case of any dispute or differences arising out of this Memorandum of Understanding, each party may as soon as practicable give to other party notice in writing of the

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existence of such questions or disputes specifying its nature and the point of issue. If the parties cannot resolve the matters by a mutually acceptable solutions within ( ) business days, the said dispute or difference shall be referred to and settled by competent court.

Signed and delivered by the within named:

FIRST PARTNER: - WITNESS 1:-

ADDRESS: - ADDRESS:-

SIGNATURE: - SIGNATURE:-

WITNESS 2:-

ADDRESS:-

SIGNATURE:-

SECOND PARTNER: - WITNESS 1:-

ADDRESS: - ADDRESS:-

SIGNATURE: - SIGNATURE:-

WITNESS 2:-

ADDRESS:-

SIGNATURE:-

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