AGREEMENT OF ASSOCIATION OF PERSONS

This Agreement of Association of Persons executed on this _____th day of

January 2010 by and between.

1. Mr.

2. Mr.

3. Mr.

WITNESSESS

Whereas the above named parties have decided to form an ASSOCIATION

OF PERSONS (AOP) w.e.f. 29th day of May 2007 for making the business of sale
& purchase of shares and/or investment in shares of listed/unlisted companies in
share market through various management services companies; AND

Whereas it is necessary to reduce into writing the terms and conditions for
the above AOP known as ____________________________________AND
ASSOCIATES;

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

1. That the above named Parties has decided to form an AOP known as
____________AND ASSOCIATES for carrying on the business of ___________________
(ex. sale & purchase of shares and/or investment in shares of listed/unlisted
companies in share market) through various management services companies
and allied business activities under their joint name or in the name of AOP with
its Principal place of business
at:___________________________________________________________________.

2. That the AOP shall run the business of sale & purchase of shares and/or
investment in shares of listed/unlisted companies in share market through
various management services companies and allied business activities, under
their joint name or in the name of AOP i.e. _____________ AND ASSOCIATES. The
business activities may be extended to other transaction with the mutual
consent of all the parties.

3. That the financial year of the firm shall be from 1 st April to 31st March every
year.
4. That the duration of the AOP shall be at will.

5. 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.

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

7. 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 AOP i.e.
______________________ AND ASSOCIATES.

8. 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 of capital standing to the credit in
the individual member's capital account of AOP as on the last day of the year.

In witness whereof we the parties have signed this Agreement of Association

of Person on this ____th day of January 2010 at ___________in the presence of
the following witness.

Witness: Members of AOP

1. 1.

2. 2.

3. 3.