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Amendment Deed Of Partnership

Amendment Deed Of Partnership Template for India

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Amendment Deed Of Partnership

"I need an Amendment Deed of Partnership to add a new partner to our existing retail business partnership and modify the profit-sharing ratio from equal shares among 3 partners to equal shares among 4 partners, effective March 1, 2025."

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Document background
The Amendment Deed of Partnership is a crucial document used when partners need to modify their existing partnership arrangement in India. It becomes necessary when there are changes to the fundamental aspects of the partnership, such as profit sharing, capital structure, partner composition, or business scope. This document type must comply with the Indian Partnership Act, 1932, the Indian Contract Act, 1872, and relevant state laws regarding stamping and registration. The deed formally records all modifications while preserving the portions of the original partnership deed that remain unchanged. It's particularly important for maintaining clear records of partnership evolution and ensuring legal compliance with Indian partnership laws. Partners typically seek legal counsel to draft this document to ensure all statutory requirements are met and the amendments are properly documented.
Suggested Sections

1. Parties: Details of all existing partners and any new partners being added through the amendment

2. Background/Recitals: Information about the existing partnership deed, date of original execution, and reason for amendment

3. Definitions: Definitions of key terms used in the amendment deed, including reference to definitions in the original partnership deed

4. Effective Date: The date from which the amendments will take effect

5. Amendments to Original Deed: Specific clauses being amended, with clear reference to original clause numbers and new provisions

6. Ratification: Confirmation that all other provisions of the original partnership deed remain unchanged

7. Governing Law: Confirmation of the laws governing the amendment deed

8. Execution Clause: Formal execution block with space for all partners' signatures

Optional Sections

1. Change in Profit Sharing Ratio: Include when the amendment involves modification of profit/loss sharing between partners

2. Capital Contribution Changes: Include when partners are making additional capital contributions or capital is being restructured

3. Management Rights: Include when changing management responsibilities or decision-making rights of partners

4. Addition/Retirement of Partners: Include when a new partner is being added or an existing partner is retiring

5. Business Scope Modification: Include when the nature or scope of partnership business is being modified

6. Duration Extension: Include when extending the term of the partnership

7. Bank Account Operations: Include when changing bank account operation rights or adding new bank accounts

8. Dispute Resolution: Include when modifying the dispute resolution mechanism

Suggested Schedules

1. Schedule 1 - Original Partnership Deed: Copy or reference to the original partnership deed being amended

2. Schedule 2 - Previous Amendments: List of any previous amendments to the partnership deed

3. Schedule 3 - New Capital Contributions: Details of revised capital contributions if applicable

4. Schedule 4 - New Profit Sharing Ratio: Detailed breakdown of revised profit sharing arrangement if applicable

5. Schedule 5 - Partners' Details: Updated information about all partners including contact details and addresses

6. Schedule 6 - Amended Business Activities: Detailed description of new or modified business activities if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Amendment
Amended Partnership Deed
Original Partnership Deed
Effective Date
Business
Capital Account
Capital Contribution
Current Account
Drawing Rights
Existing Partners
Financial Year
Firm
Firm Name
Fixed Capital
Goodwill
Interest on Capital
Managing Partner
New Partner
Office
Partners
Partnership
Partnership Assets
Partnership Property
Previous Amendments
Principal Place of Business
Profit and Loss
Profit Sharing Ratio
Retiring Partner
Stamp Duty
Term
Working Capital
Relevant Industries

Professional Services

Retail

Manufacturing

Real Estate

Construction

Healthcare

Information Technology

Consulting

Agriculture

Trading

Hospitality

Education

Financial Services

Logistics

Relevant Teams

Legal

Finance

Compliance

Operations

Business Development

Administration

Corporate Secretarial

Risk Management

Partner Relations

Document Management

Relevant Roles

Managing Partner

Business Owner

Legal Counsel

Company Secretary

Chief Financial Officer

Partnership Firm Manager

Business Development Manager

Compliance Officer

Finance Director

Operations Manager

Legal Manager

Account Manager

Business Manager

Partner Relations Manager

Industries
Indian Partnership Act, 1932: The primary legislation governing partnerships in India. It defines partnerships, outlines rights and duties of partners, and regulates the relationship between partners. Any amendment to partnership must comply with its provisions.
Indian Contract Act, 1872: As partnership deeds are contracts, they must satisfy all essential elements of a valid contract under this Act, including offer, acceptance, consideration, and competency of parties.
Registration Act, 1908: While registration of partnership deed is not mandatory under Central law, this Act governs the procedure for registration if parties choose to register or if required by state law.
Indian Stamp Act, 1899: Partnership deeds and their amendments must be properly stamped according to this Act. The Act prescribes the basis for stamp duty calculation.
State-specific Stamp Duty Laws: Various states in India have their own stamp duty rates and requirements for partnership deeds and amendments. The applicable state law must be consulted for correct stamp duty assessment.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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