Legal opinion upon vetting of the property documents

Head of Branch

Shahjalal Islami Bank Limited

Foreign Exchange Branch

Modern Mansion (1st Floor)

53, Motijheel Commercial Area

Dhaka-1000.

Attn:    Mr. Y, Executive Officer.

Sub: Legal opinion upon vetting of the property documents on account of Z Fashion Limited.

Dear Sir,

Please refer to your letter no. SJIBL/FEX/INV/2009/859 dated 19.11.2009, we                                                         refer to our earlier discussion and confirm having carefully studied and examined the papers and documents made available to us for our legal vetting in connection with the captioned subject and accordingly our observation is as follows:

01. Owner of the property:

  • Z Fashion Limited, a private company limited by shares incorporated in Bangladesh under the relevant Companies Act, 1994, represented by its Managing Director, having its office address at Apartment No. 501, House No. 3, Road No. 7, Police Station-Gulshan, Dhaka-1212.

02.  Description of the property:

SCHEDULE

All that piece and parcel of land measuring (10+5+3+12)=30 (thirty) decimals situated within District-Gazipur, Police Station & Sub-Registry Office-Gazipur Sadar, Mahal No. 9, J. L. No. Sabek 85, Hal 15, Mouza-Badey Kalemeshwer;

In respect of land measuring 10 (ten) decimals:

S. A. Khatian No. 56, R. S. Khatian No. 12, Sabek Dag No. 170 (one hundred seventy), R. S. Dag No. 538 (five hundred thirty eight).

In respect of land measuring 5 (five) decimals:

C. S. Khatian No. 56, S. A. Khatian No. 57, R. S. Khatian No. 55, Sabek Dag No. 170 (one hundred seventy), R. S. Dag No. 541 (five hundred forty one).

In respect of land measuring 3 (three) decimals:

C. S. Khatian No. 56, Sabek 58/4, S. A. Khatian No. 59, R. S. Khatian No. 112, Sabek Dag No. 170 (one hundred seventy), R. S. Dag No. 540 (five hundred forty).

In respect of land measuring 12 (twelve) decimals:

C. S. Khatian No. 56, S. A. Khatian No. 53, R. S. Khatian No. 73, Sabek Dag No. 169 (one hundred sixty nine), R. S. Dag No. 539 (five hundred thirty nine).

Butted & bounded by:

On the North: Land of Mr. Moshiur Rahman.

On the South: Road of U. P.

On the East:  Land of Hazi Md. Asgar Ali.

On the West: Land of Hazi Md. Asgar Ali.

03. Area:

  • Total land measuring (10+5+3+12)=30 (thirty) decimals.

04. Title Deed Referred:

  • Submitted original copy of Saf Kabala Deed No. 17223 dated , registered with the Sadar Sub-Registry Office of Gazipur, executed by Hazi Md. Asgar Ali in favour of Z Fashion Limited, represented by its Managing Director Mr. Shahnewaz Md. Abdur Razzak in respect of scheduled land measuring (10+5+3+12)=30 (thirty) decimals, recorded in the Book No. 1, Volume No. 321, Page No. 167 to 174.

05. Bia Deed:

  • Not submitted.

06. Mutation:

  • Certified copy of Mutation Khatian No. 12, 55, 112 & 73 along with Duplicate Carbon Receipt (DCR) bearing Page No. 6 of Book No. 3174 has been submitted wherefrom it appears that scheduled land measuring 30 (thirty) decimals pertaining to R. S. Dag No. 538, 541, 540 & 539, has duly been mutated in the name of the present owner of the land Z Fashion Limited represented by its Managing Director Mr. Shahneoaz Md. Abdur Razzak vide Mutation-Separation Case No. 2771/98-99 dated 22.10.1998, as per R. S. operation.
  • 07. Khatian:
  • Submitted certified copy of C. S. Khatian No. 56, corresponding Dag No. 169 & 170, in respect of land measuring 2 acres 6 decimals.
  • Submitted certified copy of S. A. Khatian No. 53, corresponding Dag No. 169, in respect of land measuring 45 decimals.
  • Submitted certified copy of S. A. Khatian No. 56, corresponding Dag No. 170, in respect of land measuring 15 decimals.
  • Submitted certified copy of S. A. Khatian No. 59, corresponding Dag No. 170, in respect of land measuring 35 decimals.
  • Submitted certified copy of R. S. Khatian No. 12, corresponding Dag No. 538, in respect of land measuring 10 decimals.
  • Submitted certified copy of R. S. Khatian No. 55, corresponding Dag No. 541, in respect of land measuring 12 decimals.
  • Submitted certified copy of R. S. Khatian No. 112, corresponding Dag No. 540, in respect of land measuring 13 decimals.
  • Submitted certified copy of R. S. Khatian No. 73, corresponding Dag No. 539, in respect of land measuring 45 decimals.

08. Ground Rent:

  • Submitted original copy of Ground Rent Payment Receipt being No. U 737551 dated 28.04.2008 has been submitted wherefrom it appears that rent has been paid up to the year 1415 B.S. for an area of land measuring 30 (thirty) decimals pertaining to R. S. Dag No. 538, 541, 540 & 539, in the name of the present owner Z Fashion Limited, represented by its Managing Director Mr. Shahnewaz Md. Abdur Razzak.

9. Chain of Ownership:

  • Regarding the chain of ownership of the schedule property: it appears that, Abdul Jabbar Miah, Mohammad Main Uddin, Abdul Hamid, Alfaz Uddin, Rezutullah, Neyamot Ullah, Abdul Mozid, Siraj Uddin & others were the R. S. recorded owners of the scheduled land along with other land. Thereafter the said , Abdul Jabbar Miah sold the land  to Hazi Md. Asgar Ali through a Saf Kabala Deed No. 7432 dated 22.02.1980, registered with the Dhaka Sadar Sub-Registry Office. Thereafter the said Mohammad Main Uddin sold the land  to Hazi Md. Asgar Ali through a Saf Kabala Deed No. 6422 dated 03.05.1980,  registered with the Joydebpur Sub-Registry Office. Afterwards the said, Abdul Hamid transferred the land in favour of Hazi Md. Asgar Ali through different Saf Kabala Deed Nos. 7056 & 17197 dated 20.05.1980 & 05.05.1979 respectively, registered with the Sub-Registry Office of  Joydebpur & Dhaka Sadar. Thereafter the said, Alfaz uddin, Rezutullah, Neyamot Ullah, Abdul Mozid, Siraj Uddin & others sold the land in favour of  Hazi Md. Asgar Ali through a Saf Kabala Deed No. 2803 dated 19.02.1980, registered with the Joydebpur Sub-Registry Office. Thereafter said, Hazi Md. Asgar Ali transferred the scheduled land measuring 30 decimals in favour of Z Fashion Limited, represented by its Managing Director Mr. Shahnewaz Md. Abdur Razzakthrough a Saf Kabala Deed No. 17223 dated , registered with the Sadar Sub-Registry Office of Gazipur. Thus the said Z Fashion Limited, represented by its Managing Director has become the present owner of the scheduled land & got mutated the land in the govt. revenue record vide Mutation Case no. 2771/98-99 dated 22.10.1998 and paying ground rent thereof.

10. Valuation:

  • Not submitted.

11. Holding Tax:

  • Not required.

12. Non-encumbrance certificate:

  • Not submitted.

13. Wanting Papers:

  • Bia Deed (Saf Kabala Deed No. 7432 dated 22.02.1980, Saf Kabala Deed No. 6422 dated 03.05.1980, Saf Kabala Deed No. 7056 & 17197 dated 20.05.1980 & 05.05.1979 & Saf Kabala Deed No. 2803 dated 19.02.1980).
  • Certified copy of S. A. Khatian No. 57, corresponding Dag No. 170.
  • Printed copy of relevant D. P. Parcha (if any).
  • Up to date (1416) ground rent payment receipt in respect of land measuring 90 decimals, in the name of Z Fashion Limited.
  • Up to date Non-encumbrance certificate in respect of the scheduled land.

14. Opinion:

  • In view of the above, we are of opinion that Z Fashion Limited has acquired prima facie title & ownership over the scheduled property in question by way of purchase. As such the said owner is required to produce the wanting papers mentioned in Column No. 13 above in support of its right, title & ownership over the scheduled land.

However, the Bank may accept the scheduled property as security in the form of legal mortgage against the loan facility subject to obtain the wanting papers/documents as mentioned in above and collect all original papers/documents thereof. Moreover the Bank, before creating mortgage upon the scheduled property should verify the spot physically for ascertaining the actual and peaceful possession of Z Fashion Limited over the scheduled property and collect all original copies.

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.

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 further queries in this regard please do not hesitate to contact the undersigned. The file with all original copies, certified copies of papers/documents are returned herewith.

Thanking you,

Yours faithfully,

For: The Lawyers & Jurists

M.L.Hotel Tower Ltd,

208,Shahid Syed Nazrul Islam Sarani,

Bijoy Nagar, Dhaka-1000.

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