BALTIC CONTROL (BD) LTD.

CERTIFICATE NO. 777/265/2005

VALUATION CERTIFICATE OF PROPERTY

(LAND & CIVIL STRUCTURE)
AT NANDAKHALI, TETUL JHARA
SAVAR, DHAKA
BANGLADESH.

CLIENT : M/S. DRESS WORLD LTD., DHAKA.

VALUATION WORK DONE FOR :

IFIC BANK LTD.
MOTIJHEEL BRANCH
ISLAM CHAMBER
125/A MOTIJHEEL C/A
DHAKA-1000.

DATE & PLACE OF ISSUE : 15 JANUARY 2006

DHAKA, BANGLADESH.
IFIC Bank Ltd., Motijheel Branch, Dhaka.

REF. : CREDIT/LOAN/4087/2004/2586 dt. 06-12-2005

Professional fees and expenses for the Valuation Survey of the property.
A/C. M/S. DRESS WORLD LTD., DHAKA.

Total value of the property : Tk. 5,95,59,300.00

01. Fees (Applicable) ......... ............ Tk. 25,000.00

02. Vat : 15 % Tk. 3,750.00

(Taka : Twenty eight thousand seven hundred fifty) only.

BCBD/2005-265 Tk. 28,750.00

15-01-2006
 BCBD/2006-108 15-01-2006

IFIC Bank Ltd.

Motijheel Branch
Islam Chamber
125/A Motijheel C/A
Dhaka-1000.

A/C. M/S. DRESS WORLD LTD., DHAKA.

Dear Sir :
Attached herewith please find as under :

Certificate No. : 777/265/2005 dt. : 15-01-2006

Bill No. : BCBD/2005-265 dt. : 15-01-2006
= 02 (Two) Copies each.

Photographs : 12 (Twelve) Copies.

Location Map : 02 (Two) Copies.
Mouza Map (Part) : 04 (Four) Copies.

Thanking you,

Sincerely yours :
BALTIC CONTROL (BD) LTD.

_________________
 135/2005
BCBD/2005-500 04-07-2005 Dhaka

REPORT ON VALUATION OF PROPERTY

(LAND & CIVIL STRUCTURE)
A/C. M/S. SINTEX FASHIONS LTD., DHAKA.
THIS IS TO CERTIFY THAT at the request of IFIC Bank Ltd., Motijheel Branch, Dhaka, vide letter dated 29-
06-2005, (Ref : CREDIT/CC/PROPOSAL/2005/13764) our representatives inspected & verified the subject
property on 02-07-2005 with a view to ASCERTAIN the value of the same.
We are now pleased to report as follows :
GENERAL INFORMATION
ADDRESS OF THE BORROWER / CLIENT:
Name : M/s. Sintex Fashions Ltd.
Business Address : 8, Purana Paltan (8th floor), Dhaka-1000.
Managing Partner : Mr. Shahrier Hasan Sinha

TYPE OF THE PROPERTY:

Land & Building.
PROPERTIES PARTICULARS :
OWNER OF THE PROPERTY :
Mr. Shahrier Hasan Sinha
S/o. Md. Moin Uddin Sinha
Plot # 12, Road # 104
Gulshan – 2
P.S. : Gulshan
District : Dhaka
RELATIONSHIP WITH THE BORROWER :
As owner of the property.
SCHEDULE OF THE PROPERTY :
Mouza : Ashulia; J. L. # Sabek- 120, Hal- 2
P. S. & Sub Registry Office : Uttara
District : Dhaka
Sl. Area
No. Deed & Date Khatian No. Dag No. (Decimal)
01. 1460, dt. 23-03-2004 C.S - 52; S.A- 67; R.S – 36 C.S & S.A- 83; R.S – 135
8.25
Present Jorip- 21 Present Jorip- 138
02. 1467, dt. 23-03-2004 C.S - 26; S.A- 39; R.S – 80 C.S & S.A- 79; R.S – 130
22.00
Kharija-39/1, Present Jorip- 86 Present Jorip- 140
03. 1469, dt. 23-03-2004 C.S - 52; S.A- 67;Kharija-67/Kat C.S & S.A- 83; R.S – 135
8.25
R.S - 36; Present Jorip-183 Present Jorip- 136
04. 1474, dt. 23-03-2004 C.S - 52; S.A- 67; R.S – 36 C.S & S.A- 83; R.S – 135
8.25
Present Jorip- 153 Present Jorip- 137
05. 1475, dt. 23-03-2004 C.S - 52; S.A- 67;Kharija-67/Kat C.S & S.A- 83; R.S – 135
8.25
R.S - 36; Present Jorip- 74 Present Jorip- 139
Total : 55.00
PERIMETERS OF THE BOUNDARIES (CHOUHODDY)
During our physical inspection, we have surveyed and measured the aforementioned land and found 55.00
Decimal. A proposed ten storied under construction (up to plinth level) is situated on the subject land. The land is
bounded by boundary wall in one side with entrance on the north.
The land is bounded by as follows :
EAST : Mr. Binay Bushion Mallik
WEST : Mr. Anwar Gong.
NORTH : Road
SOUTH : Road
PHOTOGRAPHS : 06 (Six) copies enclosed … … … APPENDIX- C
Contd. ………….. P/02
 135/2005 02

LOCATION OF THE LAND

The property is located at North Ashulia area under Harirampur Union, P.S.- Uttara, District- Dhaka.
The lad is situated about 100m Nprth-east side of Ashulia Parjaton Moar.
LOCATION MAP : … … … … … APPENDIX- D
MOUZA MAP : Not Available

IMPORTANCE OF THE LOCALITY :

The area has all modern facilities VIZ. Communication, Gas & Electricity etc. The subject plot has easy
access by road.

POSSESSION :
During our physical inspection, we have been informed by the local people that the property in question is
under possession of the owners as above.

REMARKS :
- We just evaluated the properties but the Legal Advisor should check the Legal matter.
- The properties surveyed by us are suitable to be accepted as collateral security in case the same is free
from all encumbrances.
- We Baltic Control (BD) Ltd. hereby declare that, we have no interest (except as Inspector Surveyor
and Assessor of the subject property) directly or indirectly in any manner whatsoever in the subject
matter in this report.
- The report contains 04 (Four) pages each page of which bears the signature of the undersigned.

VALUATION OF THE PROPERTY :

01. PRESENT MARKET PRICE :
LAND (APPENDIX –A) Tk. 1,34,58,900.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 90,73,979.00
Total: Tk. 2,25,32,879.00
(Taka : Two crore twenty five lac thirty two thousand eight hundred seventy nine)only.

02. DISTRESSED VALUE (FORCED SELLING)

LAND (APPENDIX –A) Tk. 1,09,62,000.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 72,00,000.00
Total: Tk. 1,81,62,000.00
(Taka : One crore eighty one lac sixty two thousand) only.

03. PROJECTED VALUE (SPAN OF 05 YEARS)

LAND (APPENDIX –A) Tk. 2,19,24,000.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 82,00,000.00
Total: Tk. 3,01,24,000.00
(Taka : Three crore one lac twenty four thousand) only.

NOTES : 1. Details as per APPENDIX – A & B page Nos. : 03 to 04

2. Value of land as per Govt. rate :
55.00 Decimal x 75,200.00 Per Decimal = Tk. 41,36,000.00

This SURVEY/ VALUATION has been carried out WITHOUT PREJUDICE and for the benefit of
whom it may concern.

BALTIC CONTROL (BD) LTD.

Engr. K. Shahadat Hossain

Director
 135/2005 03
APPENDIX – A

LAND/PLOT
BASIS OF VALUATION OF PLOT
We are experiencing on various occasions that the plot(s) located side by side with the same facilities and
importance, fetch different prices, without obvious reasons whatsoever.
During the Course of valuation, we have inquired local people with a view to arrive at an average consensus
rate as to the market price of the land in the locality, also considering location, size of the land and the
infrastructure in and around and future prospects of the locality.
In view of foregoing, we have valued the land based on plot being purchased and sold at Ashulia area under
Harirampur Union, P.S.- Uttara, District- Dhaka during the last one year.

PRESENT MARKET PRICE OF THE PLOT :

 Govt. Rate : Tk. 1,80,000.00 per Decimal

 Commercial Rate : Tk. 75,200.00 per Decimal

 Rate for Valuation : Tk. 1,53,800.00 per Decimal

(25% of the Govt. rate and 75% Comm. rate).

Therefore, the value of 55.00 Decimal amounts to :

55.00 Decimal @ Tk. 1,53,800.00…. ……. = Tk. 84,15,000.00
(Taka : Eighty four lac fifteen thousand) only.

DISTRESSED VALUE :
In case of forced selling for any reasons whatsoever, the distressed value of the land, according to our
calculation, append hereto :
55.00 Decimal @ Tk. 1,25,000.00…. ……. = Tk. 68,75,000.00
(Taka : Sixty eight lac seventy five thousand) only.

PROJECTED VALUE (Span of 5 Years )

Since the property treated as collateral security against the loan to the Bank, So the same may be subject to
litigation in case of failure to liquidated the loan by the borrower, although such situation does not normally
expected to arise before five years.
In case of liquidation, we have also calculated the projected liquidated value of the above property after a
span of five years.
Considering the scarcity and ever increasing demand of plot at Ashulia area under Harirampur Union, P.S.-
Uttara, District- Dhaka also appreciation/ inflation of prices over the years, we calculate the minimum
projected value, after five years as under :
55.00 Decimal @ Tk. 2,20,000.00…. ……. = Tk. 1,21,00,000.00
(Taka : One crore twenty one lac) only.