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.

_________________
 221/2005
BCBD/2005-953 19-10-2005 Dhaka

REPORT ON VALUATION OF PROPERTY (LAND)

A/C. M/S. TRADE NETWORK INTERNATIONAL, DHAKA.
THIS IS TO CERTIFY THAT at the request of IFIC Bank Ltd., Motijheel Branch, Dhaka, vide letter
dated 27-09-2005, (Ref : CREDIT/LOAN/6815/2005/20590) our representatives inspected & verified the
subject property on 16-10-2005 with a view to ASCERTAIN the value of the same.
We are now pleased to report as follows :
GENERAL INFORMATION :
BUSINESS ADDRESS OF BORROWER / CLIENT :
Name : M/s. Trade Network International
Address : 48/A-B, Purana Paltan, Dhaka- 1000.
Managing Director : Mr. Md. Enayet Karim

TYPE OF THE PROPERTY :

LAND
PROPERTIES PARTICULARS
OWNER OF THE PROPERTY:
01. Md. Zanibul Haque Note: Mr. Shahidul Hague & Ganibul Haque has
02. Md. Shahidul Haque given power of attorney to Mr. Zanibul Haque
03. Md. Ganibul Haque vide deed # 1833, dt. 13-04-2005.
All are S/o. Mr. M.S. Haque
318, Monipuri Para
P.S. : Tejgaon
District : Dhaka.

RELATIONSHIP WITH THE BORROWER :

Third party property.
SCHEDULE OF THE PROPERTY
Mouza : Rajarbagh, J.L # Sabek- 286; R.S- 02
Khatian : C.S- 236 Ka; S.A Sabek- 1576; S.A- 1211; R.S- 3217; D.P- 484
Plan No. : C.S- 27,34; S.A- 215; R.S- 2403; Mohanagar Jorip- 1501,1506
Area of land : 25.50 Decimal/ 15.45 Katha
Deed &Date : 11397, Dt. 08-11-1957
P. S. : Sabek- Tejgaon, Hal- Sabujbagh
District : Dhaka
PERIMETERS OF THE BOUNDARIES (CHOUHODDY)
During our physical inspection, we have surveyed and measured the aforementioned land and found 25.50
Decimal/ 15.45 Katha. This is a vacant land. The land is protected by boundary wall in four sides with
entrance on the west.
The land is bounded by as follows :
EAST : Railway Colony
WEST : New Circular Road
NORTH : Railway Sewerage Line
SOUTH : Road
PHOTOGRAPHS : 03 (Three) copies enclosed … … … APPENDIX- A

Contd. ….. P/02

 221/2005 02

LOCATION OF THE PROPERTY

The property is located at Shahjahanpur area under Dhaka City Corporation, P.S.- Sabujbagh, District-
Dhaka, Which is adjacent to Center Point Apartment building & 70m north-east from Pirjongi Mazar.

MOUZA MAP (PART) : … … … … … APPENDIX- B

IMPORTANCE OF THE LOCALITY :
The area has all modern facilities VIZ communication, gas, electricity, water etc. The 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 owner as above.

REMARKS :
- We just evaluated the properties but the Legal Advisor should check the Legal matter.
- 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.
- During the course of our Survey we found the property is already mortgaged to Bangladesh
Finance & Investment Co. Ltd. (BFICL).
- We also verified the documents in the Shahjahanpur Tahsil office & it was confirmed by them
that the mutation paper, DCR & tax receipt are manipulated by the borrower for the reason best
Known to them. However, it was also confirmed by them that the ownership is OK.
- In the view of above, we opine that the property is disputed one & bank should not extend credit
facilities against the subject land.

VALUATION OF THE PROPERTY :

As the property is DISPUTED ONE we did not provide here the detail valuation of the property. However,
the property may possess approximate value of Tk. 4,00,00,000.00 (Four crore) only.

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
 265/2005
BCBD/2005-1082 14-12-2005 Dhaka

REPORT ON VALUATION OF PROPERTY (LAND)

A/C. M/S. DRESS WORLD LTD., DHAKA.
THIS IS TO CERTIFY THAT at the request of IFIC Bank Ltd., Motijheel Branch, Dhaka, vide letter
dated 06-12-2005, (Ref : CREDIT/LOAN/4087/2004/25986) our representatives inspected & verified the
subject property on 07-12-2005 with a view to ASCERTAIN the value of the same.
We are now pleased to report as follows :
GENERAL INFORMATION :
BUSINESS ADDRESS OF BORROWER / CLIENT :
Name : M/s. Dress World Ltd.
Address : 58, Motijheel C/A, 2nd Floor, Dhaka- 1000.
Managing Director : Mr. Md. Osman Gani Talukdar
TYPE OF THE PROPERTY :
LAND
OWNER OF THE PROPERTY:
01. Dress World Ltd.
02. Vertex Wear Ltd.
Represented by the Managing
Director of the both Company-
Mr. Md. Osman Guni Talukdar
S/o. Late Md. Solaiman Talukdar
58 , Motijheel C/A, 2nd Floor
Dhaka-1000.
RELATIONSHIP WITH THE BORROWER :
01. As owner of the property.
02. Sister Concers.
SCHEDULE OF THE PROPERTY
P.S. : Savar
District : Dhaka
Sl.No. Deed & Date Mouza Khatian No. Dag No. Area
01. 9892 Jamur Khidragati S. A. -58 C. S & S. A.-2 1.50
dt.10-06-03 JL # Sabek- 725 R. S. -29
R.S. -214
=Do= S. A. -58 C. S & S. A.-2 11.00
NandanKhali S. A.-13 S. A.-32 45.50
JL # Sabek- 727 R. S. -75
S.A. -243, Hal- 216
=Do= S. A.-103 S. A.-26 27.00
Jamur Khidragati S. A. -58 C. S & S. A.-2 11.00
JL # Sabek- 725
S.A. -241,
Hal R.S.-214
NandanKhali S. A.-75 C. S. & S. A.-35 21.00
JL # Sabek- 727
S.A. – 243
=Do= S. A. -12, Kharija-12/1 S. A.-31 15.00
Total : 132.00
Contd. ….. P/02
 265/2005 02

PERIMETERS OF THE BOUNDARIES (CHOUHODDY)

As per submitted documents the total area in the block is more or less 358.72 Decimal, out of which 132.00
decimal intended to mortgage which is not demarcated separately. This plot is develop land. The whole
area is protected by boundary wall in two sides with entrance on the east. The construction work of a
proposed nine storied building (Completed upto grade beam) is on progress on the land, value of which is
not included in this report.
The total land is bounded by as follows :
EAST : Raj Fulbari Road
WEST : Mr. Ansar Ali
NORTH : Solaiman Member
SOUTH : Kantcha Road

PHOTOGRAPHS : 04 (Four) copies enclosed … … … APPENDIX- A

LOCATION OF THE PROPERTY

The property is located at NandaKhali area under Tetul Jhara Union, P.S.- Savar, District- Dhaka, which is
about 100m northern side from Tetul Jhara School & College.

LOCATION : … …. … .. .. …. ….. APPENDIX- B

MOUZA MAP (Part) : .… … … … … …. APPENDIX- C

IMPORTANCE OF THE LOCALITY :

The area has modern facilities VIZ communication, electricity, etc. The 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 owner 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 03 (Three) pages each page of which bears the signature of the undersigned.

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 NandaKhali area
under Tetul Jhara Union, P.S.- Savar, District- Dhaka during the last one year.
 265/2005 03

PRESENT MARKET PRICE OF THE PLOT :

Commercial Rate : Tk. 1,50,000.00 per Decimal
Govt. Rate : Tk. 25,600.00 per Decimal
Rate for Valuation : Tk. 1,18,900.00 per Decimal
(25% of the Govt. rate and 75% Comm. rate).

Therefore, the value of 132.00 Decimal amounts to :

132.00 Decimal @ Tk. 1,18,900.00…. ……. = Tk. 1,56,94,800.00
(Taka : One crore fifty six lac ninety four thousand eight hundred) only.

DISTRESSED VALUE :
In case of forced selling for any reasons whatsoever, the distressed value of the land, according to our
calculation, append hereto :
132. 00 Decimal @ Tk. 95,000.00…. ……. = Tk. 1,25,40,000.00
(Taka : One crore twenty five lac forty 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 NandaKhali area under Tetul Jhara Union,
P.S.- Savar, District- Dhaka also appreciation/ inflation of prices over the years, we calculate the
minimum projected value, after five years as under :
132.00 Decimal @ Tk. 2,00,000.00…. ……. = Tk. 2,64,00,000.00
(Taka : Two crore sixty four lac) only.

NOTES : Value of land as per Govt. rate :

132.00 Decimal x 25,600.00 Per Decimal = Tk. 33,79,200.00

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
 265/2005
BCBD/2006-018 15-01-2006 Dhaka
REPORT ON VALUATION OF PROPERTY
(LAND & CIVIL STRUCTURE)
A/C. M/S. DRESS WORLD LTD., DHAKA.
THIS IS TO CERTIFY THAT at the request of IFIC Bank Ltd., Motijheel Branch, Dhaka, vide letter dated 06-
12-2005, (Ref : CREDIT/LOAN/4087/2004/25986) our representatives inspected & verified the subject property
on 07-12-2005 & subsequent dates with a view to ASCERTAIN the value of the same.
We are now pleased to report as follows :
GENERAL INFORMATION :
BUSINESS ADDRESS OF BORROWER / CLIENT :
Name : M/s. Dress World Ltd.
Address : 58, Motijheel C/A, 2nd Floor, Dhaka- 1000.
Managing Director : Mr. Md. Osman Gani Talukdar
TYPE OF THE PROPERTY :
Land & Civil structure.
OWNER OF THE PROPERTY:
01. Dress World Ltd.
02. Vertex Wear Ltd.
Represented by the Managing Director of both Company-
Mr. Md. Osman Guni Talukdar
S/o. Late Md. Solaiman Talukdar
58 , Motijheel C/A, 2nd Floor
Dhaka-1000.
RELATIONSHIP WITH THE BORROWER :
01. As owner of the property.
02. Sister Concern.
SCHEDULE OF THE PROPERTY
P.S. : Savar
District : Dhaka
Sl. Deed No.
No. & Date Mouza Khatian No. Dag No. Area
01. 9892 Jamur Khidragati; JL # Sabek- S. A. -58 C. S & S. A.-2 1.50
dt.10-06-03 725; S.A.-241,R.S.-214 R. S. -29
=Do= S. A. -58 C. S & S. A.-2 11.00
NandanKhali; JL # Sabek- 727; S. A.-13 S. A.-32 45.50
S.A. -243, Hal- 216 R. S. -75
=Do= S. A.-103 S. A.-26 27.00
Jamur Khidragati; JL # Sabek- S. A. -58 C. S & S. A.-2 11.00
725; S.A.-241,R.S.-214
NandanKhali S. A.-75 C. S. & S. A.-35 21.00
JL # Sabek- 727 S.A. – 243
=Do= S. A. -12, Kharija-12/1 S. A.-31 15.00
02. 9870 NandanKhali; JL # Sabek- 727; S. A.-133 S. A.-33 81.00
dt.15-06-03 S.A. -243, Hal- 216
=Do= S. A.-71 S. A.-34 49.00
Jamur Khidragati; JL # Sabek- S. A. -57 C. S & S. A.-3 35.00
725; S.A.-241,R.S.-214
=Do= S. A. -34 C. S & S. A.-4 20.00
Total : 317.00
Contd. ….. P/02
 265/2005 02

PERIMETERS OF THE BOUNDARIES (CHOUHODDY)

During our physical inspection, we have surveyed and measured the aforementioned land and found 317.00
Decimal. Construction work of a proposed nine storied (Completed upto grade beam) is on progress. The land is
bounded by boundary wall in two sides with entrance on the east.
The land is bounded by as follows :
EAST : Raj Fulbari Road
WEST : Mr. Ansar Ali
NORTH : Solaiman Member
SOUTH : Kantcha Road
PHOTOGRAPHS : 06 (Six) copies enclosed … … … APPENDIX- C

LOCATION OF THE PROPERTY

The property is located at NandaKhali area under Tetul Jhara Union, P.S.- Savar, District- Dhaka, which is about
100m northern side from Tetul Jhara School & College.
LOCATION : … …. … .. .. …. ….. APPENDIX- D
MOUZA MAP (Part) : .… … … … … …. APPENDIX - E

IMPORTANCE OF THE LOCALITY :

The area has modern facilities VIZ communication, electricity, etc. The 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 owner as above.

REMARKS :
- We just evaluated the properties but the Legal Advisor should check the Legal matter.
- 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. 3,76,91,300.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 2,18,68,000.00
Total: Tk. 5,95,59,300.00
(Taka : Five crore ninety five lac fifty nine thousand three hundred)only.

02. DISTRESSED VALUE (FORCED SELLING)

LAND (APPENDIX –A) Tk. 3,01,15,000.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 1,74,00,000.00
Total: Tk. 4,75,15,000.00
(Taka : Four crore seventy four lac fifteen thousand) only.

03. PROJECTED VALUE (SPAN OF 05 YEARS)

LAND (APPENDIX –A) Tk. 6,34,00,000.00
CIVIL STRUCTURE (APPENDIX- B) Tk. 2,00,00,000.00
Total: Tk. 8,34,00,000.00
(Taka : Eight crore thirty four lac) only.

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

: Value of land as per Govt. rate : 317.00 Decimal x 25,600.00 Per Decimal = Tk. 81,15,200.00

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
 265/2005 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 NandaKhali area
under Tetul Jhara Union, P.S.- Savar, District- Dhaka during the last one year.

PRESENT MARKET PRICE OF THE PLOT :

Commercial Rate : Tk. 1,50,000.00 per Decimal
Govt. Rate : Tk. 25,600.00 per Decimal
Rate for Valuation : Tk. 1,18,900.00 per Decimal
(25% of the Govt. rate and 75% Comm. rate).

Therefore, the value of 317.00 Decimal amounts to :

317.00 Decimal @ Tk. 1,18,900.00…. ……. = Tk. 3,76,91,300.00
(Taka : Three crore seventy six lac ninety one thousand three hundred) only.

DISTRESSED VALUE :
In case of forced selling for any reasons whatsoever, the distressed value of the land, according to our
calculation, append hereto :
317.00 Decimal @ Tk. 95,000.00…. ……. = Tk. 3,01,15,000.00
(Taka : Three crore one lac fifteen 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 NandaKhali area under Tetul Jhara Union,
P.S.- Savar, District- Dhaka also appreciation/ inflation of prices over the years, we calculate the
minimum projected value, after five years as under :
317.00 Decimal @ Tk. 2,00,000.00…. ……. = Tk. 6,34,00,000.00
(Taka : Six crore thirty four lac) only.
 265/2005 04

APPENDIX – B
BUILDING
TECHNICAL DETAIL OF BUILDING
1. Year of Construction : 2005 (Under construction, Isolated footing
& column up to grade beam)
2. Plinth Area : 34,780.00 sft
3. Structure System : R.C.C
4. Type of Foundation : Isolated footing foundation
5. Foundation for : 09 (Nine) story
6. Damp Proof Course (DPC) : N/A.
7. Face of Building : N/A.
8. Inner wall : Nil
9. Floor Finishing : Nil
10. Roof : Nil
11. Doors & Windows : Nil
12. Sanitary and Water Supply System : Nil
13. Sanitary Fitting : Nil
14. Electricity Supply System : N/A.

BASIS OF VALUATION OF BUILDING :

The buildings and related facilities were evaluated by estimating the cost of a new construction for a like
facility in the subject area and then adjusting this amount to reflect the depreciation already taken on the
existing facility. The cost is estimated, based on the costing of PWD (Public Works Department) schedule
of rates, which is considered to be more authentic. The valuation of civil structure has been done based on
the documents & information provided by the owner, which is deemed to be accurate.

VALUATION OF BUILDING AND CIVIL WORKS BASED ON COST APPROACH

PRESENT MARKET VALUE :
Sl.
No. Position Plinth Area Rate Per Sft. Amount
01. Foundation work
(up to plinth grade beam) 34,780 sft. Tk. 600.00 Tk. 2,08,68,000.00
02. Additional cost for boundary wall L.S : Tk. 10,00,000.00
Total : Tk. 2,18,68,000.00
(Taka : Two crore eighteen lac sixty eight thousand ) only.

DISTRESSED VALUE : (Forced Selling)

Value of Building Tk. 1,74,00,000.00

PROJECTED VALUE : (Span of 05 Years)

Value of Building Tk. 2,00,00,000.00

(Depends on the cost of construction materials maintenance & future construction)