Bangladesh Shilpa Bank (Direct Sale Of Mortgaged Property) Rules, 1980


Bangladesh
Shilpa Bank (Direct Sale Of Mortgaged Property) Rules, 1980

 

Rule—7(3)

It
cannot be laid down as a general rule that a sale by private negotiation which
the Bank has got power to do under rule 5 generally will be invalid ab initio because the auction or tender
process which has begun has not been exhausted. When such a sale by private
negotiation takes place and the matter is brought to the Court, the question
for consideration should be whether there was any malafide or lack of proper
consideration in the transaction.

M/S. New
Ideal Engineering Works Ltd. Vs. Bangladesh Shilpa Bank and others, 13BLD (AD)
136.

Ref:
Fairtech Limited and others Vs. Bangladesh Shilpa Bank and others, 42 DLR (AD)
216-Cited.

 

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