X Bank Limited -Versus- Mr. Y

IN THE BANKRUPTCY COURT, DHAKA

BANKRUPTCY SUIT NO. OF 2007

X Bank Limited

Mohakhali Branch

Pacific Centre

14, Mohakhali Commercial Area

Dhaka – 1212

PLAINTIFF/CREDITOR

-Versus-

Mr. Y

Son of Late D

Proprietor of M/s. ______________

430, South Paikpara

Mirpur

P.S. ________

Dhaka

DEFENDANT/DEBTOR

SUIT FOR ADJUDGING/DECLARING THE DEFENDANTS/DEBTORS AS BANKRUPT UNDER BANKRUPTCY ACT, 1997

The plaintiff/creditor above named states as

FOLLOWS:

1. That the plaintiff/creditor is a banking company incorporated under the Companies Act, 1913 having its Head Office at ________________________________. It carries on banking business within the territory of Bangladesh through its various branches including the Mohakahali Branch, Dhaka address of which is given in the cause title (hereinafter referred to as the plaintiff/creditor bank.

2. That the defendant/debtor is a businessman by his profession. He carried on various types of business in the name and style of his proprietorship concern M/s. _______________ from the address given at the cause title. The defendant availed loan from the plaintiff/creditor and are accordingly liable for the loan availed by him.

3. That in course of business at per request of the defendant/debtor No.1, the plaintiff/creditor opened a current account being No. _________ in the name of his proprietorship defendant/debtor.

4. That at the request of the defendant/debtor and considering good relationship with the defendant/creditor, the plaintiff bank time to time allowed various amounts of temporary overdraft (TOD) facility to the defendant/creditor.

5. That according to the banking norms and practise, the TOD account should be adjusted on or before ______________________________. Though the defendant/debtor availed the TOD facility, the defendant/debtor failed to adjust the TOD amount along with interest within the validity i.e.________.

6. That the plaintiff/creditor vide its various letters including dated 15.11.98, 15.04.99, 18.07.98, 05.09.01, 12.05.03, 08.01.04, 30.04.07 requested the defendant/debtor and the guarantors of the loan to adjust overdue liability availed by the defendant/debtor but all were in vain.

7. That finding no other alternative, the plaintiff/creditor served demand notice under section 9(1)(i) of the Bankruptcy Act, 1997 upon the defendant/debtor on 19.10.07 by registered post with A/D demanding Tk. 14,53,100.00 (Taka fourteen lac fifty three thousand one hundred) only inclusive interest as on 31.05.07 or to furnish security within 90(ninety) days of receipt of the notice.

8. That the demand notice dated 19.10.07 was receipt by the defendant/debtor on ___________ but the defendant/debtor neither made payment nor furnished security within the notice stipulated period according to the request made by the demand notice.

9. That since the defendant/debtor failed to comply with the requirements of the formal demand within the stipulated 90 days period, the defendant/debtor has committed an act of bankruptcy within Bangladesh and within the jurisdiction of this Court.

10. That from the statement made above it is clear that the defendant/debtor is unable to pay his debts as such he is liable to be adjudged as bankrupt.

11. That the plaintiff/creditor Bank is an “eligible creditor” within the meaning of Bankruptcy Act, 1997. The act of bankruptcy has been committed within the period specified in Section 12(1)(c) of the Bankruptcy Act, 1997. As such, the defendant/debtors is subject to bankruptcy proceedings. Hence, being an “eligible creditor” the plaintiff/creditor bank is lawfully entitled to obtain an “order of adjudication” from this Court adjudging the defendant/debtor as bankrupt.

12. That the claim of the creditor Bank is Tk. _____________________ (Taka __________________________________) only inclusive of interest and charges as on ______________ which the defendant/debtor is liable to pay to the plaintiff/creditor Bank. Hence the defendant/debtor is liable to be adjudged as bankrupt unless he liquidates the liability immediately.

13. That the cause of action under Bankruptcy Act has arisen on 19.10.2007 when the notice under section 9(1)(i) were served and on ___________ when the notice period was expired the said cause of action is continuing till date.

Wherefore the plaintiff/creditor Bank prays for:

(a) An order of adjudication of the defendant/debtor as bankrupt;

(b) A declaration that the defendant/debtor is liable to pay Tk. _______________ only (Taka _________________________) only inclusive of interest and charges as on ______________ to the plaintiff/creditor Bank.

(b) Compensation @ _____% per annum from _____________ till realisation.

(c) Appointment of Receiver/interim Receiver to take custody of the properties of the defendant/debtor.

(d) Direction upon the receiver for the claimed amount of this plaintiff/creditor and to allow this creditor Bank to recover the same along with compensation from the sale proceeds of the properties of the defendant/debtors.

(e) Civil imprisonment of the defendant/debtor, if the sale proceeds are not sufficient to meet the liabilities.

(f) Cost of the proceedings.

(g) Any other relief or reliefs as your honour may deem fit and proper.

SCHEDULE

(Claim of the plaintiff/creditor)

As per the statements of account the amount payable by the defendant/debtor to the plaintiff/creditor Bank is Tk. ______________________ (Taka _____________________________) only inclusive of interest and charges as on ______________.

Name of the creditor: X Bank Limited

Mohakhali Branch

Pacific Centre

14, Mohakhali Commercial Area

Dhaka – 1212

VERIFICATION

That the statement made herein above are true to our knowledge and belief and in witnesses whereof we sign this verification on this the ______th day of ___________, 2007.