Legal opinion upon the vetting of the Rajuk property

LJ/PJ/08/616/1605

Wednesday, May 07, 2008

Head of Branch                                                                        Attn:    Mr. A

Bank 1                                                                        Senior Officer

Uttara Corporate Branch

Plot # 111/A (Ground & 1st Floor)

Road # 07, Sector # 04

Uttara, Dhaka – 1230

Bangladesh

Sub:   Legal opinion upon the vetting of the property documents on account of Company 1.

Dear Sir,

We refer your letter No. BANK 1/UTR/Credit/2008/590 dated 05.05.2008 requesting us to verify the property documents referred to us. Accordingly, we have scrupulously perused the said papers/documents and our view in relation to the same is as follows:

A.
1.
Owner of the property : Company 1, a private Company limited by shares incorporated in Bangladesh under the relevant Companies Act, 1994 having its office address at House No. 29, Road No. 10, Sector No. 14, Police Station –  Uttara,  District – Dhaka having Companies Registration No. C – 64525 (2017)/06, represented by its Managing Director Mr. B.
2. Description of the properties : All that piece & parcel of land measuring 5 (five) katha or 8.25 (eight point two five) decimals situated within UTTARA RESIDENTIAL MODEL TOWN of Rajdhani Unnayan Kartripakkha in the Sub-Registry Office – Uttara, Mouza – Bailjuri, Police Station – Uttara, being Plot No. 23 (twenty three), Road No. 3 (three), of Sector No. 11 (eleven)   of the Layout plan of UTTARA RESIDENTIAL MODEL TOWN prepared by the RAJDHANI UNNAYAN KARTIPAKKHA (RAJUK), butted and bounded by:

On the North:  Road No 03

On the South:  Plot No. 12

On the East:    Road No. 03, Plot No. 21

On the West:   Road No. 03, Plot No. 25
3. Area : Total land measuring 5 (five) Katha.
4. Title Deed Referred : Submitted certified copy of Saf Kabala Deed bearing No.  3664 dated 19.02.2007, registered with the Sub-Registry Office of Gulshan, Dhaka, executed by Mrs. C, represented her lawful attorney namely Mrs. D in favour of Company 1, represented by its Managing Director Mr. B, in respect of land measuring   5 (five) Katha
5. Bia Deed :
  • Submitted Original Lease Deed No. 424 dated 24.12.2006, executed between RAJDHANI UNNAYAN KARTIPAKKHA (RAJUK) of the One Part and Mrs. C of the Other Part, in respect of land measuring 5 katha.
  • Submitted certified Power of Attorney Deed No. 8904 dated 07.05.2006 registered with the Office of Sub-Registrar, Gulshan, Dhaka executed by Mrs. C in favour of  Mrs. D.
6. Mutation :
  • Submitted Photocopy of Mutation bearing Memo No. ivRDK/ G‡óU/705 ¯’v dated 27.05.2007 issued by Deputy Director (Estate), RAJUK, wherefrom it appears that Plot No. 23, Road No. 3, House No. 11, measuring in total 5 (five) katha, has duly been mutated in the name of the present owner of the land Buildings Limited, represented by its Managing Director Mr. B.
  • Submitted Mutation along with DCR confirming mutation as per R.S. operation in the name of Buildings Limited, represented by its Managing Director Mr. B, over the 5 (five) katha of land, vide Mutation Case No. 15555/07 dated 21.08.2007.
7. Khatian : Not Submitted
8. Chain of Ownership : Regarding the chain of ownership of land described above as schedule: it appears that RAJUK was the original leasehold owner of the scheduled land. Thereafter, the said RAJUK leased the land out to Mrs. C vide Lease Deed No. 424 dated 24.12.2006 registered with the Office of Sub-Registrar, Gulshan, Dhaka. Thereafter, said Mrs. C appointed his lawful attorney namely Mrs. D through the Power of Attorney Deed No. 8904 dated 07.05.2006 registered with the Office of Sub-Registrar, Gulshan, Dhaka. Thereafter, the said Mrs. C represented her lawful attorney namely Mrs. D  sold the schedule property to Company 1, represented by its Managing Director Mr. B through the Saf Kabala Deed No. 3664 dated 19.02.2007 registered with the Office of Sub-Registrar, Gulshan, Dhaka. Thus Company 1, represented by its Managing Director Mr. B has become the leasehold owner of the land and also got mutated the same in RAJUK.
9. Ground Rent : Photocopy of Ground Rent Payment Receipt being No. 360105 dated 27.08.2007 has been submitted wherefrom it appears that rent has been paid up to 1414 B. S. for an area of 3 (three) katha pertaining to Plot No. 23 in the name of the present owner of the land, Company 1, represented by its Managing Director Mr. B.
10. Non-encumbrance certificate : Submitted Original copy of Non-encumbrance Certificate along with Government Receipts bearing No. 52912 dated 04.05.2008 has been submitted wherefrom it appears that land measuring an area of 5 (five) katha has not in any way been encumbered or transferred within the period from 1996 to 04.05.2008.
11. Municipal Holding : Not submitted.
12. Prior Permission

OR

Approval/Permission Letter

 : Submitted photocopy of prior permission issued by RAJUK to the effect of creating mortgage on the scheduled property in favour of Bank 1, Uttara Branch, Dhaka vide its letter No. ivRDK/ G‡óU (DËiv)/2503 ¯’v dated 06.05.2008
12. Others :
  • Submitted Power acceptance letter under reference no. ivRDK/ G‡óU/3089/1 ¯’v dated 23.05.2006 issued by RAJUK permitting to appoint Mrs. C as the lawful attorney of Mrs. C.
  • Submitted Allotment Letter No. ivRDK/ G‡óU/149 ¯’v dated 10.12.2003 issued by RAJUK, in favour of Mrs. C.
  • Submitted a Board Resolution of  Company 1, for purchase the schedule land.
13. Wanting papers/ documents : Ø         Up to date Dhaka City Corporation Holding Tax Payment Receipt in respect of the scheduled property (if any).
14. Opinion : In view of the above, we are of opinion that Company 1, represented by its Managing Director Mr. B has acquired right, title & interest over the scheduled property.

However, the Bank may accept the scheduled property as security in the form of legal mortgage against the loan facility subject to obtain the papers/documents mentioned in Column No. 13 above.

Moreover the Bank, before creating mortgage upon the scheduled property should verify the spot physically for ascertaining the actual and peaceful possession of Company 1, represented by its Managing Director Mr. B over the scheduled property.

For this opinion, we have assumed that:

  • all signatures given in the documents/papers are genuine and all documents/papers submitted to us as original are authentic and complete.
  • all representations and statements made with regard to the documents by the parties are true and accurate.

It will not be out of place to mention here that the deed of mortgage supporting to be executed by the owner that Company 1, represented by its Managing Director Mr. B will be required to be filed with the Registrar Joint Stock Companies and Farms within 21 days following the date of execution of the deed of mortgage.

This opinion is rendered only to you as our client and is solely for your benefit. No other person may rely upon it for any purpose, without our previous written consent.

Should you have any further queries in this regard please do not hesitate to contact us. The file with all photocopies of papers/documents is returned herewith.

Thanking you,

Yours sincerely,

(_______________)

Advocate

For: Lawyers & Jurists

For: “The Lawyers & Jurists”

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