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    Agreement of Association of Persons

    Uploaded by

    kalaamol
    This document establishes an Association of Persons (AOP) between 4 individuals to develop a plot of land jointly owned in Aurangabad. The AOP, called Auracon Ventures, will carry out construction and development activities on the plot. Responsibilities like managing day-to-day operations, borrowing money, and signing documents are to be handled jointly by the members. Profits and losses will be distributed among the members in a specified ratio. The AOP will cease to exist after completion of the project and sale of the developed land.

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    © All Rights Reserved
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    Agreement of Association of Persons

    Uploaded by

    kalaamol
    11K views4 pages
    This document establishes an Association of Persons (AOP) between 4 individuals to develop a plot of land jointly owned in Aurangabad. The AOP, called Auracon Ventures, will carry out construction and development activities on the plot. Responsibilities like managing day-to-day operations, borrowing money, and signing documents are to be handled jointly by the members. Profits and losses will be distributed among the members in a specified ratio. The AOP will cease to exist after completion of the project and sale of the developed land.

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    This document establishes an Association of Persons (AOP) between 4 individuals to develop a plot of land jointly owned in Aurangabad. The AOP, called Auracon Ventures, will carry out construction and development activities on the plot. Responsibilities like managing day-to-day operations, borrowing money, and signing documents are to be handled jointly by the members. Profits and losses will be distributed among the members in a specified ratio. The AOP will cease to exist after completion of the project and sale of the developed land.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    11K views4 pages

    Agreement of Association of Persons

    Uploaded by

    kalaamol
    This document establishes an Association of Persons (AOP) between 4 individuals to develop a plot of land jointly owned in Aurangabad. The AOP, called Auracon Ventures, will carry out construction and development activities on the plot. Responsibilities like managing day-to-day operations, borrowing money, and signing documents are to be handled jointly by the members. Profits and losses will be distributed among the members in a specified ratio. The AOP will cease to exist after completion of the project and sale of the developed land.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    AGREEMENT OF ASSOCIATION OF PERSONS

    This Agreement of Association of Persons executed on this 06 th day


    of April 2016 by and between.

    1. Mr. Manoj Kapurchand Kala

    Age : 43 Years, Occ.: Profession

    R/o : Row house no 16, Chandraguptanagari, Behind Chankyapuri,

    Garkheda, Aurangabad.

    PAN :

    ( Hereinafter called as First member )

    2.Mr. Narendra S/o Laljibhai Ghelani,


    Age :53 Years, Occ. : Business,
    R/o.: 26, Taksh Banglo,
    Vasva Road, Vadodara
    Pan No-ABRPP0267A
    ( Hereinafter called as Second member )

    3.Mr. Vishitbhai S/o Ravjibhai Ghelani,


    Age :41 Years, Occ. : Business,
    R/o.: Nathshree, C1, Pride Galaxy
    Paithan Road, Itkheda, Aurangabad
    Pan No-AHIPG8523H
    ( Hereinafter called as Third member )

    AND

    4.Mr. Amogh Abhaykumar Yambal

    ---------------------

    ----------------------
    Hereinafter called as Fourth member )

    Whereas the above named parties have decided to form an ASSOCIATION OF


    PERSONS (AOP) w.e.f.

    06 th day of April 2016 for development and construction of project at


    land jointly owned at Open Plot No. 01 admeasuring 1558.90 Sq.Mt. forming
    part of Survey No. 03/P, Mustafabad, Aurangabad

    AND Whereas it is necessary to reduce into writing the terms and


    conditions for the above AOP known as Auracon Ventures.

    We the parties aforesaid do hereby of our freewill and consent agree to and
    conform as under:

    1.That the parties mentioned hereinbefore are the co-owners of plot situated
    at Plot No. 01 admeasuring 1558.90 Sq.Mt. forming part of Survey No. 03/P,
    Mustafabad, Aurangabad ---------- through sale deed-----------------------in the
    ratio

    2.ANDWHEREAS theco-owners and possessors of the above plot and now


    they decided to develop and construct commercial or residential building at
    said plot.

    3.That the above named Parties has decided to form an AOP known as
    Auracon Ventures for carrying on the business of builders and developers
    on said plot in the name of AOP with its Principal place of business at Plot No.
    01. Survey No. 03/P, Mustafabad, Aurangabad So for the purpose they will
    bring this land in AOP for the purpose of development.

    3. That the AOP shall run the business of civil construction and development
    in the name of AOP i.e. Auracon Ventures. The business activities may be
    extended to other transaction with the mutual consent of all the parties.
    4. That the financial year of the firm shall be from 1st April to 31st March
    every year.

    5. That the duration of the AOP shall be limited to Activities of this project
    only. And AOP should cease to exist on sales of project.

    6. That a bank A/c shall be opened in any Scheduled or Co-operative Bank or


    Banks as the parties may decide in joint name of the parties and/or in the
    name of AOP and the same shall be operated jointly and/or severally by all
    the parties as decided among them.

    7. That all the parties have a right to look after day-to-day work and
    activities of business.

    8. That all of the parties have an authority to look after and manage the
    business of AOP fruitfully in the interest of AOP, borrow Money, take loans
    form Bank or parties, to sign document, to enter into any business contracts
    and so other activities which required for smooth running of the AOP with the
    greatest interest of the business activities carried over by the said Auracon
    Ventures.

    9. That all or any one of the parties shall sign any agreement, document etc.
    as and when require on behalf of the AOP.

    9. That at the end of the year the profit or loss of the A.O.P. shall be
    distributed among the members in the ratio as below.

    1. Mr. Manoj Kapurchand Kala

    2.Mr. Narendra S/o Laljibhai Ghelani,


    In witness whereof we the parties have signed this Agreement of Association
    of Person on this 06 th day of April 2016 in the presence of the following
    witness.

    Witness:
    Members of AOP

    1. Mr. Manoj Kapurchand


    Kala

    2.Mr. Narendra S/o Laljibhai Ghelani,

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