VETTING OF THE PROPOERTY DOCUMENTS RELATING TO THE PROPOSED

The Lawyers & Jurists
M.L.Hotel Tower Ltd,208,

Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.
 www.lawyersnjurists.com

REF: LJ/PJ/01/2006

Dated: January 30, 2006

Mr. A

Manger, Administration

Bank 1(BANK 1)

Dhaka Main office

Anchor Tower

1/1-B Sonargaon Road

Dhaka-1205

Dear Sir,

RE:     VETTING OF THE PROPOERTY DOCUMENTS RELATING TO THE

PROPOSED _____________ BRANCH OF BANK 1.

We refer to your letter dated 26.01.2006 on the above subject.

We have perused the documents/papers (all photocopies) referred to us. Our opinion is as follows:

1.

 Owner of the property

 : Bangladesh Tea Board represented by its Secretary having its registered office at Chowhatta, _____________.
2. Description of the property : All that piece and parcel of land measuring 24 decimals situated in the District _____________, Sub-Registry Office _____________, P.S. Sadar, Mouza _____________ Municipality, under Plot No. I, butted and bounded by:

On the North : Land of Babu Upendra Singha Majumdar.

On the South        : Women College.

On the East          : Women College.

On the West         : Municipal Road.
3. Area : 24 decimals.
4. Title Deed Referred : Deed of Transfer No. 8209 dated 22.12.1979 executed by President of the People’s Republic of Bangladesh in favour of Bangladesh Tea Board.
5.

 Bia Deed : Not required.
6.

 Mutation

 : Not submitted.

Bank should obtain mutation parcha along with DCR in the name Bangladesh Tea Board certified by the Assistant Commissioner of Land for the land in question.
7.

 Khatian

 : R.S. Math parcha No. 189 & D.P. Khatian No. 16099 have been submitted.
8. Chain of Ownership

 : Bangladesh Tea Board acquired 24 decimals of land from President of the People’s Republic of Bangladesh vide Deed of Transfer No. 8209 dated 22.12.1979.

It appears from R.S. Math parcha No. 189 & D.P. Khataian No. 16099 that the land measuring 21.32 decimals under Dag No. 5242 was recoded in the name of Bangladesh Tea Board represented by its Secretary.
9. Ground Rent Payment Receipt

 : Submitted Ground Rent Receipt No. 306773 in the name of Bangladesh Tea Board represented by its Secretary showing payment of rent up-to 1409 BS for 21.32 decimals of land.

Bank should obtain ground rent receipt up to the current year i.e. 1412 B.S. for the land in question.
10. Valuation Certificates

: Not submitted.
11. Non-Encumbrance Certificate

 : Not submitted.
12. Municipal Holding Record : Not submitted.

Up to date Municipal tax payment receipt in the name of Bangladesh Tea Board, if applicable should be obtained.
13. Wanting papers/

Documents

 a)             Mutation parcha along with DCR in the name Bangladesh Tea Board certified by the Assistant Commissioner of Land for the land in question.

b)             Up to date Municipal tax payment receipt, if applicable.

c)             Ground rent receipt up to the current year i.e. 1412 B.S.
14. Opinion : Upon perusal of the documents/papers, we are of the opinion that Bangladesh Tea Board (the ‘Landowners’) has acquired prima facie ownership over land measuring 24 decimals subject to obtaining mutation record with revenue authority.  Bank should ascertain physical possession of the Landowner over the land and documents/papers referred in Clause 13 above should be obtained.

Upon perusal of the ‘Deed of Transfer’ vide which the Landowners have acquired the ownership, it appears that on page 5 it contains a restriction as to the use of the premises by the Landowners only for their sole purpose.  Hence, before entering  into any arrangement, the Bank  should  ask the Landowners to obtain permission from the concerned Government Machinery.

We have provided this opinion on the basis of the documents/papers referred to us. We can not guarantee the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-registry office or concerned authorities.

All papers/documents referred to us are returned herewith.

Thanking you.

Yours faithfully,

(____________________)

Barrister-at-Law

 (___________________)

Barrister-at-Law

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