Vetting of property documents related Public Land

DHAKA OFFICE:Address___________________ CHITTAGONG OFFICE:Address_______________
SENIOR PARTNERS:­­SP 1

SP 2

SP 3

 PARTNERS:P 1P 2

P 3

P 4

 P 5P 6

 

P 7

P8

 

 ASSOCIATES:A 1

A 2

 

A 3

A 4

Dated: May 27, 2003

Mr. B

VP & Manager

Bank 1

New Elephant Road Branch

92, New Elephant Road

Dhaka-1205

Dear Sir,

Re:      VETTING OF PROPERTY DOCUMENTS ON ACCOUNT OF M/S. COMPANY 1

We refer to your letter dated 21.05.2003 on the above subject. We have perused all the papers and documents referred to us and our opinion is as follows:

1. Owner of the properties : (1) Mr. C son of Mr. X and (2) Mrs. Dwife of Mrs. C both of Village Kusumpur P. S. Sirajdi Khan District Dhaka.
2. Description of the properties : All that piece and parcel of land measuring 4 Katha   situated within District Dhaka, P. S. Lalbag, Sub-Registry office Sadar, Mouza Shahar Dhaka, Ward No. 7, Sheet No. 8, 8 (Ka), C.S. Khatian No. 1299, S. A. Khatian No. 3247, C.S. Dag No. 36, S.A. Dag No. 6633.
3. Area : 2 Katha as per deed of sale No. 267 dated 04.01.73.2 Katha as per deed of sale No. 268 dated 04.01.73.Total land measuring 4 Kathas as stated above.
4. Title Deed Referred : 1.      Original Deed of Sale No. 267 dated 04.01.1973 executed by Mr. D and four others in favour of Mrs. C.2.      Original Deed of Sale No. 268 dated 04.01.1973 executed by Mr. D and four others in favour of Mrs. E.
5. Bia Deed : No bia deed has been submitted.
6. Mutation : Mutation Parcha in the name of the present owner Mrs. C and Mrs. E have been submitted with DCR from which it appears that the land measuring 06.60 decimals have been mutated under Mutation Khatian No. 3247/15, Dag No. 6633 vide Mutation and Separation Case No. 3100/L/ P-1/78-79 dated 09.06.1979.
7. Khatian : S.A. Khatian No. 3247 and R.S. Khatian No. 11571 have been submitted, but no C.S. Khatian has been referred to us.
8. Chain of Ownership : Without perusal of the C.S. Khatian and relevant bia deeds its difficult to ascertain the complete chain of ownership.However, it appears from the S.A. Khatian No. 3247 that the land measuring 14.60 and 9.70 decimals under Dag No. 6633 & 6653 was recorded in the name of Mr. F And Mr. G.Mr. C and Mrs. E have become the present owner of the land measuring 4 katha by way of purchase from Mr. Mr. D and four others vide Deed of Sale No. 267 & 268 both dated 04.01.1973
9. Ground Rent : Ground rent payment receipt No. C 714811 has been submitted showing that ground rent has been paid up to 1409 B.S. for land measuring 06.60 decimals.
10. Valuation Certificate : Valuation certificate dated 04.02.03 has been submitted.
11. Non-Encumbrance Certificate : Non-encumbrance certificate dated 01.02.2003 has been submitted.
12. Municipal Holding Record : Submitted Municipal Tax payment receipt No. 20484 from which it appears that tax has been paid up to 2002-2003 AD.
13. Wanting papers/Documents : Bia Deed, if any.
14. Opinion : Upon perusal of all the documents we are of the opinion that the present owners Mr. C and Mrs. E have acquired prima facie ownership over land measuring 4 Katha. Bank must be satisfied with the physical possession of the present owner over the said land. The land may be accepted as security of loan.

As requested, we have drafted the following deeds:

1. Deed of Mortgage

2. Irrevocable Power of Attorney to sell the mortgaged land

3. Irrevocable Power of Attorney to sell the hypothecated stocks

4. Undertaking

The file with all documents is returned herewith. Kindly acknowledge receipt.

Should you require any further information please feel free to contact us.

Thanking you.

Yours faithfully,

(___________________-)

Barrister-at-Law

Mortgage Value: Tk. 500,000.00

DEED OF MORTGAGE

THIS DEED OF MORTGAGE is made on this the ____ day of ____________, 2003.

BETWEEN

(1) MR. C son of Mr. X and (2) MRS. D wife of Mrs. C of Village Kusumpur P. S. Miajdi Khan District Dhaka, hereinafter referred to as the MORTGAGORS (which expression shall unless excluded by or repugnant to the context mean and include their heirs, legal representatives, executors, administrators and assignees) of the ONE PART.

AND

BANK 1New Elephant Road Branch, 92, New Elephant Road, Dhaka-1205, hereinafter referred to as the MORTGAGEE BANK (which expression shall unless excluded by or repugnant to the context mean and include its successors-in-interest, legal representatives, administrators and assignees) of the OTHER PART.

WHEREAS as perS.A. Khatian No. 3247 the land measuring 14.60 and 9.70 decimals under Dag No. 6633 & 6653 was recorded in the name of Mr. F;

AND WHEREAS Mr. C and Mrs. E have become the present owner of the land measuring 4 katha by way of purchase from Mr. Mr. D and four others vide Deed of Sale No. 267 & 268 both dated 04.01.1973;

AND WHEREAS MR. MR. M, proprietor of “M” FABRICS, a proprietorship concern having its place of business at _________________________, hereinafter referred to as the BORROWER has applied for overdraft facility of Tk. 5,00,000.00( Taka five lac) only to the MORTGAGEE BANK;

AND WHEREAS the MORTGAGEE BANK has agreed to sanction said overdraft facility of Tk. 5,00,000.00( Taka five lac) only to the BORROWER on condition inter alia that the MORTGAGORS shall mortgage their property more fully described in the schedule below as security for the said overdraft facility to be availed by the BORROWER;

AND WHEREAS the MORTGAGORS have accepted the above condition and agreed and offered to create legal mortgage on the said property;

AND WHEREAS the MORTGAGEE BANK has agreed to take legal mortgage of the schedule properties for a sum Tk. 5,00,000.00( Taka five lac) only as security for the said overdraft facility given to the BORROWER.

NOW THIS DEED OF MORTGAGE WITNESSES AS UNDER:

1.       In consideration of the above sanction overdraft facility of Tk. 500,000.00(Taka five lac) only given to the BORROWER by the MORTGAGEE BANK, the MORTGAGORS hereby transfer and convey by way of simple mortgage whole of their property, the schedule of which is given below with all rights, interest, easements and structures belonging thereto as security for repayment of the aforesaid facility given by the MORTGAGEE BANK to the BORROWER.

2.       If the BORROWER fails to repay the loan to the MORTGAGEE BANK in the manner stated in the overdraft sanction letter or in any other manner so agreed between the BORROWER and the MORTGAGEE BANK, then the MORTGAGEE BANK shall be entitled to recover the outstanding dues from the MORTGAGORS under these presents by sale of the mortgaged properties without intervention of the Court of law.

3.       It is further stated that the MORTGAGEE BANK, if necessary, shall be entitled to sell the mortgaged properties without intervention of any Court of law at its own discretion as provided in section 69 of the Transfer of Properties Act and the same shall be regarded as valid and binding on all the parties, to which the MORTGAGORS will not object.

4.       That the properties hereby mortgaged shall be kept in good condition at the cost and expenses of the MORTGAGORS.

5.       That the MORTGAGORS will not allow any Receiver to be appointed for the mortgaged properties except at the instance of the MORTGAGEE BANK, who shall always at its discretion be able to appoint a Receiver for the said properties nor shall any distress or execution be levied or enforced upon or against the said properties or any attempt to create any charge or mortgage on the said properties which may prejudice the security hereby created shall be illegal and of no effect.

6.       That the MORTGAGORS hereby declare that the properties hereby mortgaged is free from all encumbrances and the MORTGAGORS are legally entitled to mortgage the same with the MORTGAGEE BANK by way of registered mortgage.

7.       That the MORTGAGORS will permit the MORTGAGEE BANK, its agent, employees, and nominees from time to time to enter into or upon the mortgaged properties or any part thereof and to view, inspect and value the same and take inventories thereof, as and when necessary.

8.       That the MORTGAGORS hereby agree that they will pay all taxes and rates which are or may become payable on the properties now mortgaged with the MORTGAGEE BANK and agree to indemnify the MORTGAGEE BANK for any default of the MORTGAGORS in making such payments.

9.       That the MORTGAGORS hereby agree that neither this mortgage nor any thing contained herein shall impair, extinguish, limit or otherwise prejudicially affect all or any of the rights, remedies, privileges, benefits or securities or guarantee which the MORTGAGEE BANK has acquired or may acquire hereinafter or that may otherwise be available to the MORTGAGEE BANK.

10.   That the MORTGAGEE BANK is at liberty to enforce the mortgage at any time if the BORROWER fails or default in repayment of the loan amount as per schedule of repayment.

11.   That on repayment of the loan and on payment of all interests and other charges due thereon the MORTGAGORS at their own costs, will be entitled to redeem the mortgaged properties from the MORTGAGEE BANK free from all encumbrances and charges accruing on the MORTGAGEE BANK and on such redemption this mortgage shall be deemed to have been extinguished.

12.   In event the MORTGAGEE BANK or any of them suffer any loss/damage caused by any false statement, misrepresentation or concealment of facts regarding the right, title, interest and possession of the scheduled Properties, the MORTGAGORS shall be bound to refund the mortgage value i.e. Tk. 500,000.00( Taka five lac) only to MORTGAGEE BANK upon immediate demand and the exercise of the right under this provision shall under no circumstances prejudice MORTGAGEE BANK from taking any other recourse against the MORTGAGORS for recovery of their dues.

SCHEDULE OF THE PROPERTY

All that piece and parcel of land measuring 4 Katha situated within District Dhaka, P. S. Lalbag, Sub-Registry office Sadar, Mouza Shahar Dhaka, Ward No. 7, Sheet No. 8, 8 (Ka), Khatian No. 1299, S. A. Khatian No. 3247, C.S. Dag No. 36, S.A. Dag No. 6633 along with residential house and/or any other structures to be constructed thereon with all right, title, interests, easements, etc. attached or appertained thereto.

IN WITNESS WHEREOF, THE MORTGAGORS HEREUNTO SET THEIR SIGNATURES ON THE DAY, MONTH AND YEAR MENTIONED ABOVE.

Signed in the presence of (signatures, names and addresses of the witnesses):-1.2. _________________________Mrs. C

_________________________

Mrs. E

(Signature of the MORTGAGORS)

BEFORE THE SUB REGISTRAR, _________________

IRREVOCABLE GENERAL POWER OF ATTORNEY

This POWER OF ATTORNEY is made on this the _______ day of _________, 2003:

WE, (1) MRS. C son of Mr. X and (2) MRS. E wife of Mrs. C of Village Kusumpur P. S. Sirajdi Khan District Dhaka, (hereinafter referred to as the PRINCIPALS) to execute this Irrevocable General Power of Attorney and hereby state as follows:

WHEREAS as perS.A. Khatian No. 3247 the land measuring 14.60 and 9.70 decimals under Dag No. 6633 & 6653 was recorded in the name of Mr. F;

AND WHEREAS we have become the present owner of the land measuring 4 katha by way of purchase from Mr. Mr. D and four others vide Deed of Sale No. 267 & 268 both dated 04.01.1973;

KNOW ALL MEN BY THESE PRESENTS that being PRINCIPALS we,do hereby irrevocably nominate, appoint and constitute

BANK 1

NEW ELEPHANT ROAD BRANCH

92, NEW ELEPHANT ROAD

DHAKA-1205

as our true and  lawful  ATTORNEY to do all or any of the following acts, deeds and things :

1.   To sell, transfer and assign the scheduled properties, without intervention of any Court of law and to do all acts and sign all documents and papers in our names which may be required to sell, transfer and assign the said properties or any part thereof and all proceeds received under this authority shall be treated as true and valid receipt on our behalf.

2.   To seal, sign and execute any documents of sale, transfer and/or assignment or to do any act on our behalf relating to the aforesaid transfer of the scheduled properties or part thereof and to receive the proceeds thereof on our behalf.

3.   To present and/or submit such deed to the office of the Registrar, Joint Registrar or Sub-Registrar for registration of the same and to do all other acts required to register such documents including swearing affidavit on our behalf.

4.   To deliver the possession of the properties or part thereof to the purchaser, transferee or assignee, as the case may be and to do all other acts in this regard.

5.   GENERALLY to do all other acts, deeds, matters and things whatsoever relating to said sale, transfer or assignment of the properties in question.

6.   We undertake that we shall not revoke this Power of Attorney without the consent of the ATTORNEY BANK in writing and we shall not execute and register any other Power of Attorney relating to the said properties other than in favour of the ATTORNEY BANK.

WE HEREBY UNDERTAKE AND AGREE TO RATIFY WHATSOEVER THE SAID ATTORNEY BANK SHALL LAWFULLY DO OR CAUSE TO BE DONE UNDER THESE PRESENTS AND TO INDEMNIFY THE ATTORNEY BANK AGAINST ALL COSTS AND EXPENSES INCURRED BY US.

SCHEDULE OF THE PROPERTY

All that piece and parcel of land measuring 4 Katha   situated within District Dhaka, P. S. Lalbag, Sub-Registry office Sadar, Mouza Shahar Dhaka, Ward No. 7, Sheet No. 8, 8 (Ka), Khatian No. 1299, S. A. Khatian No. 3247, C.S. Dag No. 36, S.A. Dag No. 6633 along with residential house and/or any other structures to be constructed thereon with all right, title, interests, easements, etc. attached or appertained thereto.

IN WITNESS WHEREOF, WE HEREUNTO PUT OUR SIGNATURE ON THIS THE ___TH DAY OF ___________, 2003.

Signed in the presence of(signatures, names & addresses of the witnesses):- ___________________Mrs. C

____________________

Mrs. E

(Signatures of the Executants)

Drafted by:

For: “The Lawyers & Jurists”
M.L.Hotel Tower Ltd,
208, Shahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka-1000.

www.lawyersnjurist.com

BEFORE THE SUB REGISTRAR, _________________

A F F I D A V I T

We, Mrs. C son of Mr. X and Mrs. E wife of Mrs. C both of Village Kusumpur P. S. Miajdi Khan District Dhaka do hereby solemnly affirm and say as follows: –

1.         That the immovable properties subject matter of this Power of Attorney are not attached under the Bangladesh Collaborators (Special Tribunal) Order, 1972.

2.         That the immovable properties subject matter of this Power of Attorney are not abandoned properties within the meaning of the Bangladesh Abandoned Properties (Control, Management and Disposal Order, 1972 (P.O. No. 16 of 1972).

3.         That the Power of Attorney to be executed in connection with the immovable properties is not void under any law for the time being in force.

4.         That the proposed Power of Attorney is not liable to be void under Article 5A of the Bangladesh Land Holding (Limitation) Order, 1972 (P.O. No. 98 of 1972).

5.         That the execution of the Power of Attorney does not contravene any provision of any other law for the time being in force.

6.         That the immovable properties subject matter of this Power of Attorney have been correctly described and have not been undervalued and the Executant has transferable right in such properties.

THE STATEMENTS MADE ABOVE ARE TRUE TO OUR KNOWLEDGE AND BELIEF AND IN VERIFICATION WHEREOF, WE SIGN THIS AFFIDAVIT ON THIS THE ____TH DAY OF ____________, 2003, BEFORE THE SUB-REGISTRAR, __________.

______________________________

_______________________________                      Deponents

The deponents are known to me

and identified by me and have                          signed in my presence

_________________

Identifier

BEFORE THE NOTARY PUBLIC AT ____________, BANGLADESH

IRREVOCABLE GENERAL POWER OF ATTORNEY

(TO SELL THE HYPOTHECATED STOCKS)

WHEREAS I, MR. M Proprietor of M/s. “M” FABRICS, having business place at ____________________________________, have applied to BANK 1, New Elephant Road Branch, 92, New Elephant Road, Dhaka-1205, (hereinafter referred to as the ATTORNEY BANK) for overdraft facility of Tk. 5,00,000.00 (Taka five lac) only.

AND WHEREAS the ATTORNEY BANK has agreed on principle to extend the said overdraft facility of Tk. 5,00,000.00 (Taka five lac) only on conditions inter alia that I shall hypothecate the stocks of cloths, ready made garments stored at my business place at 4/21, Ismail Mansion, near Gousia Market, Dhaka-1205 and New “M” Fabrics at 393/B, 106, New Chistia Market, near Gousia Market, Dhaka-1205.

AND WHEREAS I have agreed to such condition and have hypothecated the stocks described hereinafter in favour of the ATTORNEY BANK and have further agreed to execute an irrevocable general power of attorney in favour of the ATTORNEY BANK to sell the Hypothecated Stocks.

NOW THEREFORE BY THESE PRESENTS that I, MR. M in consideration of sanctioning the overdraft facility of Tk. 5,00,000.00 (Taka five lac) only to my proprietorship concern M/S. “M” FABRICS, business place at _________________, do hereby irrevocably nominate, appoint and constitute: –

BANK 1

NEW ELEPHANT ROAD BRANCH

92, NEW ELEPHANT ROAD

DHAKA-1205

as my true and lawful ATTORNEY to do all or any of the following acts, deeds and things:

1.     To sell the hypothecated stocks of cloths, ready made garments stored at my business place at 4/21, Ismail Mansion, near Gousia Market, Dhaka-1205 and New “M” Fabrics at 393/B, 106, New Chistia Market, near Gousia Market, Dhaka-1205. The properties mentioned above being hypothecated with the ATTORNEY BANK the same may be sold by the said ATTORNEY BANK at its absolute discretion and all proceeds received under this authority shall be treated as true and valid receipt on my behalf and may be adjusted against my liability with the ATTORNEY BANK.

2.     To seal, sign and execute any documents and to do any act on my behalf relating to the aforesaid properties hypothecated by me to the said ATTORNEY BANK and to receive all sale proceeds on that account to adjust the loan account (s) and/or any of my liability with the ATTORNEY BANK.

3.   To do any act on my behalf relating to the said stocks hypothecated with the ATTORNEY BANK.

4.   To deliver the possession of the said stocks or part thereof to the purchaser, transferee or assignee, as the case may be and to do all other acts in this regard.

IN GENERAL TO DO ALL OTHER ACTS, DEEDS, MATTERS AND THINGS WHATSOEVER RELATING TO THE SAID HYPOTHECATED STOCKS AND TO REALISE THE AMOUNT FROM SALE OF THE SAME AND TO ADJUST MY LIABILITY TO THE SAID ATTORNEY BANK.

THIS POWER OF ATTORNEY SHALL BE IRREVOCABLE UNTIL MY ENTIRE LIABILITY WITH THE ATTORNEY BANK IS FULLY ADJUSTED AND THE SAID ATTORNEY BANK RELEASES ME ABSOLUTELY FROM ALL LIABILITY WHATSOEVER AND I SHALL NOT EXECUTE ANY OTHER POWER OF ATTORNEY RELATING TO THE SAID HYPOTHECATED STOCKS.

I DO HEREBY UNDERTAKE AND AGREE TO RATIFY WHATSOEVER THE SAID ATTORNEY BANK SHALL LAW FULLY DO OR CAUSE TO BE DONE UNDER THESE PRESENTS AND TO INDEMNIFY THE ATTORNEY BANK AGAINST ALL COSTS AND EXPENSES INCURRED BY IT.

IN WITNESS WHEREOF, I HEREUNTO PUT MY SEAL AND SIGNATURE ON THIS THE _____TH DAY OF _________________, 2003.

Signed in the presence of(signatures, names andaddresses of the witnesses):

1.

2.

 _______________________Mr. M

Proprietor: M/S. “M” FABRICS

(Signature of the EXECUTANT)

UNDERTAKING

To

BANK 1

NEW ELEPHANT ROAD BRANCH

92, NEW ELEPHANT ROAD

DHAKA-1205

I, MR. M Proprietor of M/s. “M” FABRICS, having business place at ____________________________________, have been sanctioned overdraft facility of Tk.500,000.00 (Taka five lac) only, do hereby represent, warrant, undertake and covenant as follows:

1.      I undertake that in case of theft, burglary of the hypothecated stocks or damage of the hypothecated stocks due to flood and cyclone, I shall bear all the losses.

2.      Further undertake that all correct and true information provided by me to you in connection with the Hypothecated Property. If any information or representation made by me appear to be incorrect or false at the sole determination of ABBL, then I shall be liable both under civil and criminal law.

IN WITNESS WHEREOF, I HEREUNTO PUT MY SEAL AND SIGNATURE ON THIS THE ___TH DAY OF ________, 2003.

Signed in the presence of(signatures, names andaddresses of the witnesses):

1.

2.

 ________________Mr. M

Disclaimer:

The information contains in this web-site is prepared for educational purpose. This site may be used by the students, faculties, independent learners and the learned advocates of all over the world. Researchers all over the world have the access to upload their writes up in this site. In consideration of the people’s participation in the Web Page, the individual, group, organization, business, spectator, or other, does hereby release and forever discharge the Lawyers & Jurists, and its officers, board, and employees, jointly and severally from any and all actions, causes of actions, claims and demands for, upon or by reason of any damage, loss or injury, which hereafter may be sustained by participating their work in the Web Page. This release extends and applies to, and also covers and includes, all unknown, unforeseen, unanticipated and unsuspected injuries, damages, loss and liability and the consequences thereof, as well as those now disclosed and known to exist.  The provisions of any state’s law providing substance that releases shall not extend to claims, demands, injuries, or damages which are known or unsuspected to exist at this time, to the person executing such release, are hereby expressly waived. However the Lawyers & Jurists makes no warranty expressed or implied or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product process or service by trade name, trade mark, manufacturer or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favouring by the Lawyers & Jurists. The views and opinions of the authors expressed in the Web site do not necessarily state or reflect those of the Lawyers & Jurists. Above all, if there is any complaint drop by any independent user to the admin for any contents of this site, the Lawyers & Jurists would remove this immediately from its site.