The Lawyers & Jurists M.L.Hotel Tower Ltd,208,Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.
Our ref: LJ/PJ/11/2006 Dated: November 06, 2006
Assistant Vice President
Kawran Bazar Branch
46, Kawran Bazar C/A
Kawran Bazar Branch
46, Kawran Bazar C/A
RE: VETTING OF PROPETY DOCUMENTS A/C. COMPANY 1
We refer to your letter dated 07.08.2006 and documents submitted on 22.10.2006 on the above subject.
We have perused and verified the documents/papers (all photocopies) referred to us. Our opinion is as follows:
|1.||Owner of the properties
|:||Company 1. represented by its Managing Director Mr. Anwar Hossain of Boro Rangamatia, P.O. and P.S.-Ashulia, District Dhaka.|
|2.||Description of the properties
|:||All that piece and parcel of land measuring 16½ decimals, situated within District Dhaka, P.S. previously Savar presently Ashulia, Sub-Registry Office Savar, J.L. No. C.S. 600, S.A 115, R.S. 113, Mouza Boro Rangamatia under C.S. Khatian No. 1, S.A. Khatian No. 4, R.S. Khatian No. 73, C.S. and S.A. Dag No. 1, R.S. Dag No. 29 butted and bounded by:
On the North: Land of Md. Monwar Hossain
On the South: Govt. Road
On the East: Land of Abu Yousuf Md. Ishaq
On the West: Land of Ranju Miah and others
|3.||Area||:||16 ½ decimals|
|Title Deed Referred||:||Certified copy of Deed of Sale No. 4245 dated 07.03.2006 executed by Titanic Products Ltd. represented by its Mr. Anwar Hossain in favour of Company 1. represented by Managing Director Mr. Anwar Hossain along with delivery receipt has been submitted. Bank should ensure whether the delivery receipt is duly discharged by the seller.|
|:||1. Deed of Sale No. 2817 dated 12.04.1984 executed by Iman Ali and Jamiron Nesa in favour of Abu Yousuf Md. Ishak.
2. Deed of Sale No.17173 dated 27.10.1999 executed by Md. Manwar Hossain in favour of Titanic Products Ltd.
|:||Mutation Khatian No. 73/Kat certified by Assistant Commissioner of Land along with Proposal Sheet and DCR have been submitted from which it appears that land measuruing 1650 ajutangsha under Dag No. 29 has been mutated in the name of Company 1 vide Mutation and Separation Case No. 8186/06 dated 12.04.2006.|
|:||C.S. Khatian No.1, and R.S. Khatian No. 73 have been submitted.|
|8.||Chain of Ownership||:||It appears upon perusal of C.S. Khatian No.1 that land measuring 124.09 acre under Dag No.1 along with other lands under several dags was recorded in the name of Sarada Prashad Roy Chowdhury.
Upon perusal of Deed of Sale No. 2817 dated 12.04.1984 it appears that land measuring 42.50 decimals under C.S. Khatian No. 01, S.A. Khatian No. 4, C.S. and S.A. Dag No. 01 was owned by Md. Rezali. But no deed/document has been referred to us in the name of Md. Rezali.
After the death of Rezali his sons including Md. Iman Ali, daughters Jamiron Nesa, Rahela Bibi became owners of the land by way of succession.
(In the R.S. operation land measuring 2.64 acre under Dag No. 29 was recorded in the name of Md. Iman Ali, Jamiron Nesa, Rahela Bibi and 09 others.)
Md. Iman Ali purchased land measuring 4.75 decimal and 1.75 decimal from his brother and sister (Rahela Bibi) vide Deed of Sale No. 11079, 2991 dated 12.10.1974 and 22.04.1982 respectively. But we have not provided with the said deeds of sale.
Abu Yousuf Md. Ishak became owner of land measuring 16½ decimals from Iman Ali and Jamiran Nesa by way of purchase vide Deed of Sale No. 2817 dated 12.04.1984.
Md. Manwar Hossain purchased the land from Abu Yousuf Md. Ishak vide Deed of Sale No. 4573 dated 03.04.1997. We have no been provided with the Deed of Sale No. 4573 dated 03.04.1997 and Bank should obtain the same.
Titanic Products Ltd purchased the land from Md. Monwar Hossain vide Deed of Sale No. 17173 dated 27.10.1999.
Company 1 has become owner of the land measuring 16 ½ decimals by way of purchase from Titanic Products Ltd vide Deed of Sale No.4245 dated 07.03.2005.
|9.||Ground Rent receipt||:||Ground rent payment receipt No. 847420 has been submitted from which it appears that ground rent has been paid up to 1407 B.S. in name of previous owner Titanic Products Ltd for land measuring 66 decimals.
Ground development tax payment receipt No. R 010769 has been submitted from which it appears that land development tax has been paid up to 1413 B.S. in the name of Tex image Limited for land measuring .1650 acre.
|11.||Non-Encumbrance Certificate||:||Non-encumbrance certificate dated 20.07.2000 issued by deed writer along with Govt. receipt from the year 1988 to the year 2000 for land measuring 16.50 decimals has been submitted.
Up to date non-encumbrance certificate counter signed by concerned Sub-Registrar should be obtained.
Up to date municipal tax payment receipt should be obtained, if applicable.
|14.||Opinion||:||Upon perusal of the documents/papers, we are of the opinion that Company 1 has acquired prima facie ownership over the land in question. Physical possession over the land should be ascertained and documents/papers referred in the Clause 13 above should be obtained.
Bank may accept the land as security of loan by way of registered mortgage. Certified copy of deed of mortgage to be filed with the RJSC within 21 (twenty one) days of registration of the deed of mortgage.
We have provided this opinion on the basis of the documents/papers referred to us. We do not confirm the genuineness of the documents. You may verify the genuineness of submitted documents with the concerned Sub-Registry office or with the concerned authorities.
Should you have any further query, please do not hesitate to revert back to us.
As per your request we are sending herewith the following draft documents:
a) Deed of Mortgage along with Affidavit.
b) Irrevocable General Power of Attorney along with Affidavit to sell the land in question.
All papers/documents referred to us are returned herewith.