Legal Opinion Regarding Disposal of Bank’s Property Situated at 197/A Kalibari Road , Mymensingh

Mr. Z

Address….

RE:      LEGAL OPINION REGARDING DISPOSAL OF BANK’S PROPERTY SITUATED AT 197/A KALIBARI ROAD, MYMENSINGH.

Dear Sir,

We refer to your letter dated 16.04.2007 on the above subject matter. We have perused the contents of the letter along with all other papers and documents. Our opinion in this regard is as follows:

Our Opinion:

The Tenders were invited from the eligible buyers for disposal of the captioned property on “As it is where it is” basis. It is clearly stipulated in the Tender that the bidders may contact the regional Manager, Bank 1 to verify the property on the spot. As such there is no scope to consider the bidders’ prayer regarding joint measurement of land and vacating the area occupied by Bihari Camp.

However the Bank can extend the time limit up to 30.06.2007 for the bidders to make payment of the balance amount if it desires to do such. In such situation, the best possible course of action would be for the Bank to inform the recent position regarding disposal of the captioned land to the bidders’ and request them to take necessary steps towards payment of the balance amount within 30.06.2007.

As requested by you we are sending herewith the draft reply of the bidders’ letter dated 22.02.2007.

All papers/documents (photocopies) and file referred to us are returned herewith. Kindly acknowledge receipt of the same.

Thanking you.

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

Mr. Z

Address….

Dear Sir,

Ref:  Acceptance of Tender dated 25.09.2006 for disposal of 71.00 (seventy one) decimals of land situated at ……………….

We refer to our letter dated 04.02.2007 and your letter dated 22.02.2007 on the above subject

As you are aware that you have submitted tender on 25.09.2006 along with Earnest Money amount of Tk. 27,55,000.00 (Taka twenty seven lac fifty five thousand) only being 25% of your quoted amount of Tk. 1,10,62,100.00 (Taka one crore ten lac sixty two thousand one hundred) only. You are also aware of the fact that the management of Uttara Bank has accepted the said tender. Accordingly you are requested vide letter dated 04.02.2007 to deposit the balance amount of Tk. 83,07,100.00 (Taka eighty three lac seven thousand one hundred) only in the form of Bank Draft/Pay Order favouring “Uttara Bank Ltd. Head Office” within 20 (twenty) days calculating from 04.02.2007 as per terms of the Tender.

But without making payment of the full balance amount you have deposited Tk. 27,80,000.00 (Taka twenty seven lac eighty thousand) only and have informed about such deposit to the Bank vide your letter dated 22.02.2007 with a request to extend the time limit up to 30.06.2007 for payment of the residual balance amounting Tk. 55,27,100.00 (Taka fifty five lac twenty seven thousand one hundred) only.  In the same letter you have also requested the Bank to take necessary action for vacating area occupied by Bihari Camp and to make arrangement for joint measurement of the land in order to confirm the total area of land. In this regard please note that since the Tender was on “As it is where it is basis” there is no scope to consider your prayer regarding joint measurement of land and vacating the area occupied by Bihari Camp. Please note that since you have failed to deposit the full balance amount within the stipulated time as per the terms of the Tender the Bank has the right to forfeit the deposited amount. However being sympathetic to you, the Bank agreed to extent the time limit for payment of the balance amount up to 30.06.2007. If you fail to deposit the balance amount of Tk. 55,27,100.00 (Taka fifty five lac twenty seven thousand one hundred) only within 30.06.2007, the Bank will forfeit the deposited amount without any further notice as per the terms of the Tender.

Thanking you.

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

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