BEFORE THE NOTARY PUBLIC OF BANGLADESH
(To sell the hypothecated stock of yearn and gray clothes, factory machinery etc.)
WHEREAS I, Md. X, son of Md. Jomir Ali Box of Kandapara, Pulice Station & District- Narsingdi being the sole proprietor of M/s. Z Traders a proprietorship concern having it office Address at: Madhabdi Bazar (Pagla Patty), P.O.- Madhabdi, P.S. Narsingdi Sadar, District- Narsingdi, requested DHAKA BANK Limited, Madhabdi Bazar Branch, 8, Bank Road Madhabdi, Narshingdi, Bangladesh for sanctioning loan facility and pursuant to such request the said Bank has sanction an overdraft under SME limit of Tk.80,00,000.00 (Taka eighty lac) only, vide Sanction Letter No. DBL/MDB/SME-OD/2010/436 dated 22.03.2010 (the ‘Sanction Letter’).
KNOW ALL MEN BY THESE PRESENTS that I, Md. X, son of Md. Jomir Ali Box of Kandapara, Pulice Station & District- Narsingdi being the sole proprietor of M/s. Z Traders a proprietorship concern having it office Address at: Madhabdi Bazar (Pagla Patty), P.O.- Madhabdi, P.S. Narsingdi Sadar, District- Narsingdi, in consideration of granting me the Loan facility mentioned above and with a view to secure repayment of the said loan, do hereby irrevocably, nominate, appoint and constitute:
Dhaka Bank Limited
Madhabdi Bazar Branch
8, Bank Road Madhabdi,
100 Motijheel Commercial Area,
as my true and lawful ATTORNEY (hereinafter referred to as “ATTORNEY BANK”) to do all or any of the followings acts, deeds and things:
1. to sell the hypothecated stocks of yearn and gray clothes, factory machinery etc., stored to be stored at my business premises located at Madhabdi Bazar (Pagla Patty), P.O.- Madhabdi, P.S. Narsingdi Sadar, District- Narsingdi, or anywhere wheresoever through out the country (hereinafter referred to as the ‘Stock) without intervention of court of law.
- the Stocks mentioned above being hypothecated with the ATTORNEY BANK may be sold by the ATTORNEY BANK at its absolute discretion without any intervention of Court of law and all proceeds received under this authority shall be treated as true and valid receipt on my behalf and may be adjusted against my Loan liabilities with the ATTORNEY BANK.
- To collect all receivables against book debts for adjustment of my Loan liability with the ATTORNEY BANK, in case of my default to repay the same.
3. To seal, sign and execute any documents and to do any act on my behalf relating to the aforesaid hypothecated Stocks and to receive all sales proceeds on that account to adjust my Loan account(s) and/or any other liabilities with the ATTORNEY BANK.
4. To do any act on my behalf relating to the said Stocks hypothecated with the ATTORNEY BANK.
5. To deliver the possession of the said Stocks or part thereof to the purchaser, transferee or assignee, as the case may be and to do all other acts in this regard.
6. To receive and collect the bills receivable, all other proceeds/payments against book debts under hypothecation and to credit the same to our loan account with the said Attorney Bank
IN GENERAL TO DO ALL OTHER ACTS, DEEDS, MATTERS AND THINGS WHATSOEVER IN OR ABOUT THE SAID HYPOTHECATED STOCKS AND TO REALISE THE AMOUNT FROM SALE OF THE SAME AND TO ADJUST MY LIABILITIES WITH THE SAID ATTORNEY BANK.
AND the powers conferred on the Attorney Bank hereunder RELATING TO THE HYPOTHECATED STOCKS are solely to protect the interests of the Attorney Bank and shall not impose any duty upon the Attorney Bank to exercise any such power.
THIS POWER OF ATTORNEY SHALL BE IRREVOCABLE UNTIL MY ENTIRE LIABILITIES WITH THE ATTORNEY BANK ARE FULLY LIQUIDATED AND THE SAID ATTORNEY BANK RELEASES ME ABSOLUTELY FROM ALL LIABILITIES WHATSOEVER AND I SHALL NOT EXECUTE ANY OTHER POWER OF ATTORNEY RELATING TO THE SAID HYPOTHECATED STOCKS.
I DO HEREBY UNDERTAKE AND AGREE TO RATIFY WHATSOEVER THE SAID ATTORNEY BANK SHALL LAWFULLY DO OR CAUSE TO BE DONE UNDER THESE PRESENTS AND TO INDEMNIFY THE ATTORNEY BANK AGAINST ALL COST AND EXPENSES INCURRED BY IT.
IN WITNESS WHEREOF, I HEREUNTO SET MY SEAL AND SIGNATURE ON THIS THE DAY OF ______________2010, BEFORE THE NOTARY PUBLIC, Bangladesh.
the sole proprietor of
M/s. A. S. D. Traders.
Signed in the presence of
(Signatures, names and
addresses of the witnesses):
1. Name & Signature
For: The Lawyers & Jurists
M.L.Hotel Tower Ltd,
208,Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.
Country code+ Ph No.