Mr. X – request for return of original Title Deeds and other documents held against Term Loan & SOD (Gen) liabilities A/C Company 1.

Mr. Z

Address….

Dear Sir,

RE: Mr. X – request for return of original Title Deeds and other documents held against Term Loan & SOD (Gen) liabilities A/C Company 1.

We refer to your letter No. …………….. dated March 30, 2008 and your letter No. …………………… dated April 01, 2008 on the above subject.

From perusal of your letter and the provided documents it appears that, Company 1 (“COMPANY 1”) has sent Bank 1 (“BANK 1”) a letter dated March 25, 2008, whereby COMPANY 1 has requested BANK 1 to return the title deeds and documents in relation to land measuring 34.17 decimals at ……………..

You have provided us with a draft replay to the said letter of COMPANY 1.

In the circumstances stated above, you have requested us to give our legal opinion as to whether BANK 1 should reply to the said letter of COMPANY 1 and if yes you have requested us to vet the provided draft reply.

OUR OPINION:

We are of the opinion that BANK 1 should reply to the said letter of COMPANY 1.

Our comments on the draft reply are as follows:

We suggest you to delete the second paragraph of your draft reply and replace it with the following:

“In your letter you have acknowledged the fact that, although the High Court of Singapore has sold Mr. x through auction, the fund recovered through the said auction is at present under the custody of the High Court of Singapore. Therefore, BANK 1 (“BANK 1”) have not received any amount from the said sale proceeds towards repayment of your liabilities with BANK 1. Moreover, legal proceedings in Admiralty in Rem No. ……………. in connection with Mr. x is still pending in the High Court of Singapore.”

After the third paragraph of your reply we suggest you to add the following paragraph:

“In the circumstances stated above, we are unable to comply with your request as it is not possible for BANK 1 to return the requested deeds/documents until your total liabilities with BANK 1 are adjusted. Further the matter is also sub judice in Singapore.”

If you have any further query, please do not hesitate to revert back to us.

Thanking you,

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

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