Reply to Demand of Justice Notice

Mr. Z

Address….

Dear Sir,

Re:      REPLY TO DEMAND OF JUSTICE NOTICE

We act on behalf of The Bank 1 (“Our Client”). On 28.09.06 Our Client has received a legal notice dated 26.09.2006 issued on behalf of your client Mr. X, son of ,,,,,,,,,, ………….. (“Your Client”) and Our Client have forwarded the same to us with instructions to give reply as follows:

  1. The assertions and claims made in paragraph 1 of your legal notice are information best know to your client and are subject to proof.
  2. Except that it is incorrect that the Secured Overdraft (“SOD”) limit allowed by Our Client to your Client was of Tk. 1,30,000/- (Taka One Lac Thirty Thousand) only, paragraph 2 of your legal notice is correct. The SOD limit allowed by Our Client was of Tk. 1,25,000/- (Taka One Lace Twenty Five Thousand) only.
  3. Paragraph 3 of your legal notice is correct.
  4. Except that it is correct that Our Client requested the General Post Office (“GPO”) authority for marking lien on the Bangladesh Sanchay Pattras (“BSP”s) against which the SOD limit was secured and that GPO marked lien on the said BSPs, paragraph 4 of your legal notice is incorrect and as such denied. Although Mrs A gave authority to Our Client to encash the BSPs, the actual encashment of the BSPs depended upon the willingness and corporation of the GPO.
  5. The chain of events alleged in Paragraph 5 and 6 of your legal notice do not reflect the actual events and as such is not accepted by Our Client. The accurate chain of events is as follows – The SOD facility expired on 28.01.2004 but your client did not adjust his liability with Our Client. It was not possible for Our Client to renew Your Client’s SOD facility against pledge of BSPs due to restriction laid down by BANK 2 , which came into effect from 01.01.2004. In such situation, Our Client requested Your Client to adjust his loan liability with up to date interest vide their letter no. …………….. dated 17.02.2004. But Your Client deposited Tk. 10,500/- (Taka Ten Thousand Five Hundred) only on 06.07.2004 and did not make further arrangement of any fund towards adjustment of his remaining liability. Afterwards, upon maturity of the BSPs, Our Client forwarded the same to the GPO, Dhaka vide their letter no. …………… dated 19.0702004 and requested then to encash the BSPs and deliver the proceeds through pay order/cheque in favour of The BANK 1, Principal Branch A/c 33037264 of Your Client. Unfortunately, GPO did not receive the said letter of Our Client and refused to make such arrangement without physical presence of the Beneficiary of the BSPs, i.e. Mrs. A. Our Client requested GPO again by their letter no. …………. dated 19.09.2004 to encash the BSPs, but to no avail. As Our Client failed to encash the pledged instruments due to non-cooperation of GPO, Our Client informed Your CLient by their letter no. ……………… that his account has been classified and once again requested him to adjust his liability with Our Client. Finally, the GPO considered Our Client’s request letter no. ……………… dated 21.04.2005 and encashed the 2 BSPs though Our Client had to incur an amount of expense in this regard. But the amount realised from the 2 BSPs was Tk. 1,68,874/- (Taka One Lac Sixty Eight Thousand Eight Hundred Seventy Four) only, which was short of Your Client’s liability by Tk. 10,433/- (Taka Ten Thousand Four Hundred Thirty Three) only. Your client was informed about this shortfall vide Our Client’s letter no. ……………. and was requested for immediate adjustment but to no avail.

In the premises stated above, please inform your client to withdraw the legal notice served upon our client. Further, please advice your client to adjust their outstanding liabilities within 15 days of receipt of this reply. If they fail to do so then our client would take appropriate and necessary measures to recover the outstanding dues by enforcing the securities. Should your client intend to initiate legal proceeding on baseless grounds against our client it will be solely at their own risk and responsibility.

A copy of this reply is kept in our office for future reference.

Yours faithfully

………………….

For: “The Lawyers & Jurists”

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