Tahmidur Remura LOGO best law firm in Bangladesh

GLOBAL OFFICES:
DHAKA: House 410, ROAD 29, Mohakhali DOHS
DUBAI: Rolex Building, L-12 Sheikh Zayed Road
LONDON: 1156, St Giles Avenue, Dagenham

Telephone Receiver on Microsoft Teams 1.0 24/7 Contact Numbers, Even During Holidays:
+8801708000660
+8801847220062

+8801708080817

Engineering and Project Management Consultancy in Bangladesh

Engineering and Project Management Consultancy in Bangladesh

Project Management Consultancy law firm and EPMC company in Bangladesh

Tahmidur Rahman Remura (TLS) is a well-established law firm and one of the leading Engineering and Project Management Consultancy (EPMC) companies in Bangladesh. The company has been providing legal and consulting services to clients in the private and public sectors for over a decade.

The law firm’s legal practice covers a wide range of areas, including corporate and commercial law, banking and finance, intellectual property, and labor and employment law. The firm’s team of experienced attorneys has a deep understanding of the legal landscape in Bangladesh and is well-equipped to handle complex legal issues.

EPMC company in Bangladesh

In addition to its legal practice, TLS is also recognized as one of the top EPMC companies (and a consultancy law firm) in Bangladesh. The company’s team of experts has extensive experience in engineering and project management and has successfully completed a wide range of projects in the country. TLS’s services in this area include project management, engineering design, cost estimation, and construction supervision.

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One of the key strengths of TLS is its ability to provide integrated legal and consulting services to clients. This enables the company to offer a comprehensive solution to clients’ needs, whether it is legal advice or project management services.

TLS’s commitment to quality and excellence is reflected in its long-standing relationships with clients. The company has a reputation for providing reliable and efficient service, and its clients include some of the largest and most respected companies in Bangladesh.

TLS’s EPMC and consultancy law firm services include project management, engineering design, cost estimation, and construction supervision. The company’s project management team is well-versed in the use of project management tools and techniques and is able to provide clients with a comprehensive project management solution. This includes the development of project plans, schedules, and budgets, as well as the management of project risks and issues.

Engineering Design by Tahmidur Rahman Remura

The company’s engineering design services include the preparation of detailed engineering designs and drawings for a wide range of projects. This includes the design of infrastructure projects such as roads, bridges, and buildings, as well as the design of industrial and manufacturing facilities. TRR’s team of engineers is well-versed in the use of the latest engineering design tools and software and is able to provide clients with high-quality engineering designs that meet their specific needs.

As a consultancy law firm, the cost estimation services include the preparation of detailed cost estimates for a wide range of projects. The company’s team of cost estimators is well-versed in the use of cost estimation tools and techniques and is able to provide clients with accurate and reliable cost estimates.

The company’s construction supervision services include the supervision of construction works to ensure that they are carried out in accordance with the approved plans and specifications. The company’s team of construction supervisors is well-versed in the use of the latest construction management tools and techniques and is able to provide clients with a comprehensive construction supervision solution.

Hence, TLS is a well-established law firm and one of the leading Engineering and Project Management Consultancy (EPMC) companies in Bangladesh. The company’s team of experts has extensive experience in engineering and project management and has successfully completed a wide range of projects in the country. TRR’s EPMC services include project management, engineering design, cost estimation, and construction supervision, which provides clients with a comprehensive solution to their needs.

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Certification or ExpertiseExpertise as a consultancy law firm
Project Management Professional (PMP)A globally recognized certification for project managers offered by the Project Management Institute (PMI). Holders of this certification have demonstrated a high level of knowledge and experience in project management.
Construction Management Professional (CMP)A professional certification for construction managers offered by the Construction Management Association of America (CMAA). Holders of this certification have demonstrated a high level of knowledge and experience in the field of construction management.
Professional Engineer (PE)A professional license for engineers, typically granted by state or territorial governments in the United States, that demonstrates a high level of knowledge and experience in engineering.
Six SigmaA methodology for process improvement that seeks to eliminate defects and improve efficiency. Six Sigma certification demonstrates a high level of knowledge and experience in this methodology.
ISO 9001An international standard that specifies requirements for a quality management system. Organizations that are certified to this standard have demonstrated a commitment to quality and have implemented a system for continuously improving their processes.
OSHAS 18001An international standard that specifies requirements for an occupational health and safety management system. Organizations that are certified to this standard have demonstrated a commitment to providing a safe and healthy work environment for their employees.

Procurement as a consultancy law firm in Bangladesh

The firm’s procurement department deals with both local and foreign procurement of engineering tools and materials, safety and fire alarm systems, telecommunication tools and gadgets, oil and gas tools accessories such as flanges, valves, and seals, drilling and production materials, and more.

In terms of civil engineering and oilfield installation services, the firm offers location preparation and civil works, land reclamation, access road construction, construction of drainages, construction of buildings, and maintenance services for well heads, Xmass tree and other equipment.

For mechanical works, the firm’s services include pipeline and flowline construction, sand blasting and painting of tanks and steel structures, fabrication and maintenance of steel works, tank cleaning, fabrication of wellhead hook-ups, rigging and scaffolding, fabrication and installation of spools, gas injection systems, and pressure pipe work, cathodic protection, maintenance of production equipment, pumps, valves, and air compressors, pipeline maintenance and repair works, corrosion control, rigging and scaffolding works, and hydrotesting.

In terms of instrumentation works, the firm offers installation of switch gears, circuit breakers, changeover, electrical aspect of heavy-duty generators and re-wiring, installation of earthing systems, fabrication of cable trays and support instrument for cable and power transmission, installation and maintenance of electrical control panels. The firm also has a deep knowledge and expertise on the local laws and regulations, which enables them to provide services and solutions that are compliant with the laws of the land.

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Streamlining Project Delivery in Bangladesh

Tahmidur Remura’s technical experts constantly look for ways to streamline project delivery methods. Fabrication is a proven solution to improve capital efficiencies for some of the most challenging project conditions for clients across all industries in Bangladesh.

Because modularization is not a one-size-fits-all solution, Tahmidur Remura works closely with each client to develop a project execution strategy that creates the best value in accordance with Bangladesh’s law. Tahmidur Remura’s integrated approach to fabrication solutions offers a range of options to fit clients’ specific needs.

Tahmidur Remura’s extensive modular project experience and comprehensive knowledge of the engineering, procurement, fabrication, construction, and project management process, result in fabrication and construction strategies optimized for cost and schedule benefits in the context of Bangladesh’s law.

The advantages that Tahmidur Remura brings to fabrication projects include:

Tahmidur Remura’s fabrication facilities in Bangladesh

  • Dedicated fabrication group supporting project strategies and resources specific to Bangladesh
  • Advanced commodity sourcing methods and focused offsite fabrication procurement support specific to Bangladesh’s market
  • Fabrication-driven execution / Input in design to optimize constructability in accordance with Bangladesh’s law
  • Safety, Environmental and Quality benefits with shop fabrication in compliance with Bangladesh’s law
  • Proprietary module optimization design processes specific to Bangladesh’s legal context Dedicated modular logistics team in line with Bangladesh’s law.

Engineering Solutions to Meet the Most Complex Challenges

With offices in Bangladesh, Tahmidur Remura as a consultancy law firm can meet clients’ project needs anywhere. Tahmidur Remura’s engineering disciplines include civil, electrical, mechanical, piping and structural engineering, as well as advanced specialties such as simulation, enterprise integration, integrated automation processes and interactive 3D and 4D modeling.

Tahmidur Remura as a consultancy law firm collaborates with client counterparts to develop comprehensive services that may include engineering, procurement, fabrication, construction, maintenance and project management. From the earliest stages of project design, we involve the construction and commissioning teams to provide capital and schedule efficiencies.

Tahmidur Remura’s engineering offerings include:

  • Advanced Process Modeling
  • Construction-Driven Execution
  • Design Capabilities
  • Design Reviews
  • Engineering Capabilities
  • Front-End Engineering & Design (FEED)
  • Project Management
  • Technologies
  • Value Engineering
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As a law firm and a consultancy company we provide these following services:


i) technical clarification related to design to international renowned organizations, major corporations and leading businesses in various industries.

ii) Assist international renowned organizations, major corporations and leading businesses in various industries during technical negotiation by providing support in understanding vendor’s capabilities and limitations, identifying potential issues and suggesting solutions.

iii) Assist international renowned organizations, major corporations and leading businesses in various industries in identifying cost-effective solutions and recommending strategies for price negotiation.

iv) Post award of contract:

We Prepare detailed design and production drawings, ensuring compliance with industry standards, regulations and client’s specific requirements for international renowned organizations, major corporations and leading businesses in various industries.

v) We Develop Quality Assurance Plan (QAP) and assist the client in implementing quality control measures to ensure project deliverables meet the required standards and specifications. iii Provide planning and scheduling support to international renowned organisations, major corporations and leading businesses in various industries to ensure timely completion of projects and meet project deadlines.

vi) Prepare comprehensive Work Instructions, which include procedures, processes, and instructions for each stage of the project, to ensure consistency and efficiency for international renowned organizations, major corporations and leading businesses in various industries.

vii) Identify and recommend potential vendors for procurement based on their technical capabilities and experience, to international renowned organizations, major corporations and leading businesses in various industries. vi Prepare technical specifications for procurement and subcontracting and assist international renowned organizations, major corporations and leading businesses in various industries in evaluating bids and selecting suitable vendors.

viii) Provide technical support during the procurement process, including assisting international renowned organizations, major corporations and leading businesses in various industries in technical negotiation and replying to technical queries of bidders.

ix) Assist international renowned organizations, major corporations and leading businesses in various industries in technical acceptance of incoming materials, conducting inspections and testing to ensure compliance with project specifications.

x) Provide technical support during construction, launching, testing, and commissioning phases, including troubleshooting and identifying solutions to technical issues for international renowned organizations, major corporations and leading businesses in various industries.

xi) Assist international renowned organizations, major corporations and leading businesses in various industries in addressing and rectifying defects during the warranty period, ensuring timely completion and satisfaction with the end product.


FAQ about Range of Service provided by Tahmidur Remura in Bangladesh:

FAQAnswers
What services does Tahmidur Remura provide?Tahmidur Remura provides a range of services including procurement, civil engineering, and oilfield installation services, mechanical works, hydrotesting, and instrumentation works.
How does Tahmidur Remura optimize cost and schedule benefits for fabrication projects?Tahmidur Remura uses an integrated approach to fabrication solutions that offers a range of options to fit clients’ specific needs. This includes utilizing global fabrication facilities, advanced commodity sourcing methods, and input in design to optimize constructability.
What industries does Tahmidur Remura serve?Tahmidur Remura serves clients across various industries including oil and gas, engineering, construction, and telecommunications.
What are Tahmidur Remura’s engineering capabilities?Tahmidur Remura offers civil, electrical, mechanical, piping, and structural engineering services, as well as advanced specialties such as simulation, enterprise integration, integrated automation processes, and interactive 3D and 4D modeling.
How does Tahmidur Remura collaborate with clients?Tahmidur Remura collaborates closely with clients to develop comprehensive services that may include engineering, procurement, fabrication, construction, maintenance, and project management. This includes involving construction and commissioning teams in the early stages of project design.
Does Tahmidur Remura have a global presence?Yes, Tahmidur Remura has offices in Bangladesh and the surrounding region and is able to meet clients’ project needs anywhere in the country.
How does Tahmidur Remura ensure safety and quality in fabrication projects?Tahmidur Remura has a dedicated fabrication group that supports global project strategies and resources with an emphasis on safety, environmental and quality benefits with shop fabrication.
What is Tahmidur Remura’s approach to project management?Tahmidur Remura uses a construction-driven execution and design capabilities approach, with front-end engineering and design (FEED) and project management services.
What is Tahmidur Remura’s experience in modular project?Tahmidur Remura has extensive modular project experience and comprehensive knowledge of the engineering, procurement, fabrication, construction, and project management process.
Does Tahmidur Remura provide maintenance services?Yes, Tahmidur Remura offers maintenance services for well heads, Xmass tree, production equipment, pump, valves, and air compressor, pipeline maintenance and repair works, cathodic protection, and Corrosion control.

Hire the best consultancy law firm in Bangladesh

Tahmidur Rahman Remura has earned its stellar reputation thanks to its proficiency in a wide range of financial transactions, including those involving power and energy, mergers and acquisitions, and large-scale projects. Led by Barrister Tahmidur, the law firm also consults on behalf of international financial institutions like the World Bank and gives advice to large local and international banks on local corporate governance issues. Remura Mahbub is another instrumental part of the team, and she is a big reason why the company gets does so much cross-border work in Southeast Asia and Europe.

In addition, this elite law firm in Bangladesh also deals with shipping law practices assisting in both wet and dry contentious and non-contentious matters, aviation law, capital markets law, bankruptcy and creditors’ rights, and family law. Additional practice areas include asset acquisition, dispute resolution, ICC, LCIA and UNCITRAL arbitration proceedings, finance and securitization law, and aviation law. It consists of an international division comprised of attorneys specializing in foreign and cross-border business and providing premium solutions for international clients.

For further information, visit the following links:

Website | Facebook | YouTube

Media Details:
Company: Tahmidur Rahman Remura Law Firm
Contact Person: Tahmidur Rahman
Email Address: [email protected]
Website: https://tahmidurrahman.com/
Phone Number: +8801847220062 & +8801779127165

Affidavit in Bangladesh and the execution

Affidavit in Bangladesh and the execution

Affidavit in Bangladesh in its execution in 2023

An affidavit is a written statement that is sworn or affirmed to be true. In Bangladesh, an affidavit is a legal document that can be used in a variety of situations, including court cases, property disputes, and immigration matters. In this article, we will explain the steps for preparing and submitting an affidavit in Bangladesh.

Step 1: Prepare the Affidavit Form

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The first step in preparing an affidavit is to obtain the correct form. The form can typically be obtained from a lawyer, government office, or court. The form should include all of the necessary information, including the name and address of the person making the affidavit, the statement being made, and the signature of the person making the affidavit.

Step 2: Write the Statement

Once you have the form, you will need to write the statement that you wish to make. This statement should be written in a clear and concise manner and should be limited to the facts relevant to the matter at hand. It is important to ensure that the statement is true and accurate.

Step 3: Get the Affidavit Sworn

Once the statement has been written, the next step is to get the affidavit sworn. This can be done by going to a lawyer or a notary public. The lawyer or notary public will administer an oath or affirmation to the person making the affidavit, and will then witness the signature on the form.

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Step 4: Submit the Affidavit

After the affidavit has been sworn, it can be submitted to the relevant government office or court. The office or court will then review the affidavit and determine whether it is acceptable. If the affidavit is accepted, it will be kept on file for future reference.

Step 5: Keep a copy of the Affidavit

It is important to keep a copy of the affidavit for your own records. This will ensure that you have a record of the statement that you have made, and will allow you to refer to it in the future if necessary.

In conclusion, preparing an affidavit in Bangladesh is a straightforward process that requires obtaining the correct form, writing a clear and accurate statement, getting the affidavit sworn, submitting the affidavit to the relevant government office or court and keeping a copy of the Affidavit. It is important to ensure that the statement is true and accurate and that the form is completed correctly before submitting it.

An affidavit is a legal document that contains a sworn statement or declaration. A notarized affidavit is one that has been sworn to before a notary public, who acts as an official witness to the signing of the document. In Bangladesh, notarized affidavits are typically made on stamp paper and must be submitted to the relevant government office or court.

Affidavits are commonly used in a variety of situations, including court cases, property disputes, and immigration matters. They are considered to be reliable evidence of the facts stated in them.

Types of Affidavits

There are two main types of affidavits: judicial and non-judicial. Judicial affidavits are used in cases filed in court, while non-judicial affidavits are used for other purposes, such as commercial or administrative matters. Judicial affidavits are made on legal paper with appropriate court fees and stamps, while non-judicial affidavits are made on non-judicial stamp paper.

To create an affidavit online, you can use the services of Tahmidur Rahman Remura, a top law firm in Bangladesh. The firm offers a web-based platform that allows you to provide the necessary information for the affidavit and have it made on a manual or e-stamp paper. You can also schedule an appointment with a certified notary public to execute and complete the affidavit. The firm offers a variety of affidavit services, including:

  • Affidavit regarding late birth registration and relationship for USCIS Request for Evidence (RFE) notice, visa/immigration/other purposes
  • Affidavit of financial sponsorship, undertaking and relationship
  • Affidavit for change/specimen signature
  • Affidavit of loss
  • Affidavit for the change of religion
  • Affidavit regarding bona-fide/legitimate marriage for visa/immigration/other purposes
  • Affidavit regarding unmarried certificate for visa/immigration/other purposes

Overall, with the help of Tahmidur Rahman Remura, you can get your affidavit done easily and quickly without leaving your home or office.

What is an affidavit notarized?

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A “notarized” affidavit implies that you have sworn to the veracity of the affidavit’s contents. Additional affidavit stamp paper is to be used. Plain paper cannot be used for affidavits.

Why are Affidavits Filed?

Affidavits are considered common and are used frequently in our daily lives. It has been presumed and assumed that any declaration made by a citizen in an affidavit could be deemed accurate and appropriate action could be taken.

Varieties of Affidavits

There are two different types of affidavits: judicial and non-judicial. In court-filed cases, judicial affidavits are utilized. Non-Judicial Affidavits are used “for other purposes.” Judicial affidavits are required for various reasons, including but not limited to providing evidence or supporting an application.

Non-judicial affidavits are “basically for commercial or administrative purposes.” Judicial affidavits are written on legal paper with the appropriate court fees and stamps attached. Non-judicial affidavits are executed on non-judicial stamp papers.

How to Get an Affidavit Outside of Court Online?

Considering how to create an online affidavit? Using our web-based platform, Tahmidur Remura, you can get an affidavit created online; however, you must provide us with the information required for the affidavit. Then, we will create your affidavit on either manual/traditional stamp paper or electronic stamp paper. You can order Non-Judicial Stamp Paper by sending an email to [email protected] or by purchasing e-stamp paper on our website.

Then, you can execute and complete your affidavit via our online platform at www.tahmidurrahman.com with a prior appointment schedule with a Certified Notary Public of Bangladesh Government, or we can send you a printed copy on Non-Judicial Stamp Paper or e-stamp paper via mail / courier. “Simple and Rapid.” You can obtain an affidavit without leaving your home or place of business.

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A directory of Affidavit Service

  • AFFIDAVIT REGARDING LATE BIRTH REGISTRATION AND RELATIONSHIP FOR USCIS REQUEST FOR EVIDENCE (RFE) NOTICE, VISA / IMMIGRATION / OTHER PURPOSE
  • Regarding Late Birth Registration and Claimed Biological Relationship by Father/Mother/Sister/Brother/Uncle/Aunty/Other AFFIDAVIT OF FINANCIAL SPONSORSHIP, UNDERTAKING, AND RELATIONSHIP.
  • Sponsorship / Assistance for Student / Visit / Medical / Family Visa
    AFFIDAVIT FOR MODIFICATION / SAMPLE SIGNATURE
  • Variation in Signature Affidavit
    AFFIDAVIT OF LOSS
  • Loss of any item (Academic Certificate, Mark Sheet, Marriage Certificate, NIKAHNAMA, Birth Certificate, Death Certificate, Passport, Medical Documents, Property Documents, Driver’s License, ATM Card, Car/Vehicle Documents, Bank Cheque, Mobile Phone, etc.)
    AFFIDAVIT FOR RELIGIOUS CONVERSION
  • Change of religion from one to the next (From Hinduism / Buddhism / Christianity / Adibashi to Muslim AFFIDAVIT REGARDING BONA FIDE / LEGITIMATE MARRIAGE FOR VISA / IMMIGRATION / OTHER PURPOSE.
  • Father/Mother/Sister/Brother/Uncle/Aunty/Other Affidavit to Establish a Legitimate/Bona Fide Marriage
    AFFIDAVIT CONCERNING SINGLE CERTIFICATE FOR VISA/IMMIGRATION/OTHER PURPOSES
  • Regarding Unmarried Status Certificate Declared by Parents

FAQ about Affidavits in Bangladesh

QuestionsAnswersLaws
What is an affidavit?An affidavit is a legal document that contains a sworn statement or declaration that is made before a notary public. It is used as evidence in court cases, property disputes, and immigration matters.The Evidence Act 1872 of Bangladesh
What is a notarized affidavit?A notarized affidavit is one that has been sworn to before a notary public, who acts as an official witness to the signing of the document.The Evidence Act 1872 of Bangladesh
What are the types of affidavits?There are two main types of affidavits: judicial and non-judicial. Judicial affidavits are used in cases filed in court, while non-judicial affidavits are used for other purposes, such as commercial or administrative matters.The Evidence Act 1872 of Bangladesh
What is the difference between judicial and non-judicial affidavits?Judicial affidavits are made on legal paper with appropriate court fees and stamps and are used in court cases, while non-judicial affidavits are made on non-judicial stamp paper and are used for other purposes, such as commercial or administrative matters.The Evidence Act 1872 of Bangladesh
How can I prepare an affidavit in Bangladesh?To prepare an affidavit, you must first obtain the correct form, then write a clear and accurate statement, get the affidavit sworn by a notary public, and submit it to the relevant government office or court.The Evidence Act 1872 of Bangladesh
What is the process for submitting an affidavit?Once the affidavit has been sworn, it can be submitted to the relevant government office or court. The office or court will then review the affidavit and determine whether it is acceptable. If the affidavit is accepted, it will be kept on file for future reference.The Evidence Act 1872 of Bangladesh
Is it necessary to keep a copy of the Affidavit?Yes, it is important to keep a copy of the affidavit for your own records, as it will ensure that you have a record of the statement that you have made and will allow you to refer to it in the future if necessary.The Evidence Act 1872 of Bangladesh
How can I get an Affidavit online in Bangladesh?You can use the online platform of a reputable law firm such as Tahmidur Rahman Remura to provide the necessary information for the affidavit and have it made on a manual or e-stamp paper. You can also schedule an appointment with a certified notary public to execute and complete the affidavit.The Evidence Act 1872 of Bangladesh
What are the different types of affidavit services available in Bangladesh?Some of the different types of affidavit services available include Affidavit regarding late birth registration and relationship, Affidavit of financial sponsorship and undertaking, Affidavit for change/specimen signature, Affidavit of loss, Affidavit for change of religion, Affidavit regarding bona-fide/legitimate marriage, Affidavit regarding unmarried certificateThe Evidence Act 1872 of Bangladesh
What are the laws related to Affidavit in Bangladesh?The laws related to Affidavit in Bangladesh are The Evidence Act 1872.The Evidence Act 1872 of Bangladesh

Regenerate response

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Are you planning to register a private limited company in Bangladesh?

Company formation and registration at Tahmidur Rahman Remura: The Law Firm in Bangladesh:

The legal team of Tahmidur Rahman, The Law Firm in BangladeshRemura: The Law Firm in Bangladesh are highly experienced in providing all kinds of services related to forming and registering a Private Limited Company in Bangladesh . For queries or legal assistance, please reach us at:

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165

Address: House 410, Road 29, Mohakhali DOHS

Sales and Purchase Agreement in Bangladesh

Sales and Purchase Agreement in Bangladesh

SPA agreement in Bangladesh

What is the meaning of a Sales and Purchase Agreement (SPA)?

A Sales and Purchase Agreement (SPA agreement in Bangladesh) is a legal contract between a property buyer and seller. This agreement is legally binding and clearly explains the terms and conditions of the transaction. A SPA’s purpose is to define the legal obligations and protect the rights of the transaction’s parties. Common SPA transactions include the sale of real estate, goods, stock, or other assets. SPAs are not used to sell services.

An SPA is typically entered into in mergers and acquisitions by the buyer and seller(s) of a target company’s stock, with the seller(s) agreeing to sell a specific number of shares to the buyer for a specified price. The provisions and mechanics of an SPA can be worth more than the headline price. A SPA with clear financial terms is critical in achieving these goals, whether selling a business to achieve a clean exit at a predictable price or acquiring a business with appropriate remedies in place should the target company’s financial position not be as represented.

The SPA is negotiated throughout the transaction during the M&A process. After the buyer has completed due diligence to determine the true state of the company for sale, the final phase of the transaction is to draft the SPA and determine the company’s sale price.

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Key Learning Points

  • The SPA is the principal document that lays out the terms of a transaction and is negotiated by the buyer and seller.
  • Clear and solid financial terms in the SPA are essential to closing a successful transaction.
  • Prior to drafting the SPA, the parties usually negotiate and execute a term sheet, which addresses all the principal terms of the transaction, which can then be incorporated into the SPA.
  • An M&A transaction is typically accompanied by extensive due diligence before the SPA is finalized.
  • SPAs may also be affected by existing shareholders’ agreements between the shareholders of a target company

Key components of a SPA

In essence, the sale and purchase agreement clarifies the terms of the transaction so that both parties are on the same page. Typical contract terms include the purchase price, the closing date, the amount of earnest money the buyer must submit as a deposit, and a list of included and excluded items.

The purchase and sale agreement is one of the most significant documents in a business owner’s life. Due to this, it should be approached with caution and rigor, with legal professionals guiding both the seller and the buyer.

Common characteristics and terms of a Sale and Purchase Agreement (SPA).

1 The parties to the contract

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In the simplest form of a sale, there are only two parties to the agreement: the seller and the buyer. However, additional parties may be involved if, for instance, the company being sold has multiple shareholders. To sell their shares, each of these shareholders will be required to sign the sale and purchase agreement.

2 Contract for sale and purchase

This provision is typically the shortest and simplest in the SPA. However, it is one of the most important, as it ensures that full legal ownership of the shares (also known as “title”) and all rights that attach to the shares are properly transferred (e.g., rights to dividends). Typically, this provision also states that the shares are unencumbered, reassuring the buyer that the seller has not pledged any of the shares to a bank or other lender.

Consideration No. 3

Buyers pay a seller for an acquired company in the form of cash, debt (such as a promissory note issued by the buyer), shares of the buyer, or a combination of these.

4 Restriction clauses

The purchaser will want to prevent the seller from launching a new, competitive business that will detract from the value of the company being sold. Therefore, the sale and purchase agreement will include restrictive covenants prohibiting the seller (for a specified time period and within specified geographic regions) from soliciting existing customers, suppliers, or employees, and from competing with the company being sold in general. These covenants must be reasonable in terms of geography, scope, and duration. Otherwise, they could be in violation of competition law.

5 Warranty and indemnity provisions

Warranties are factual assertions made by a seller in the SPA regarding the condition of the sold company. If a warranty later proves to be false and the company’s value decreases, the buyer may have a claim for breach of warranty. All aspects of the company, including its assets, accounts, material contracts, litigation, employees, property, insolvency, intellectual property, and debt, are covered by the warranties.

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If more specific risks are identified during due diligence, they are likely to be covered by an appropriate indemnity in the sale and purchase agreement, in which the seller agrees to reimburse the buyer pound for pound for the indemnified liability.

(6) Precedent conditions

Simultaneous signing and closing (where the parties sign the SPA and close the sale on the same day) is the preferred and simplest method for concluding a transaction. Occasionally, however, there is a need for a delay between the signing and completion of a contract in order to satisfy certain final conditions. These are commonly known as “conditions precedent” and include tax authority clearances, merger approval by authorities, and third-party consent (for example, where a change of control provision exists in a material contract of the company being sold).

Unless the parties agree otherwise, the sale and purchase agreement terminates if all specified conditions are not met by a certain date (the “longstop date”), unless the parties agree otherwise. Therefore, it is crucial that the SPA specifies how to determine when the conditions precedent have been met and when they can no longer be met. Additionally, it should specify which party is responsible for fulfilling each condition precedent. The obligated party must use reasonable efforts to satisfy the relevant conditions precedent by the longstop date.

7 Finalization

Legal ownership of the shares is transferred to the buyer, resulting in the buyer’s ownership of the target company. Typically, a completion schedule in the SPA will include a list of all documents to be signed and other actions required to close the deal.

8 Post Completion

The sale and purchase agreement continues to be an important reference document following the closing, as it outlines the terms of any earn-out and includes restrictive covenants, confidentiality obligations, warranties, and indemnities, all of which may remain highly relevant.

Depending on the size of the transaction, a single SPA may contain a substantial amount of content. Here are a few instances of what you may encounter in an SPA.

Asset Identification

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A SPA describes the particular asset being sold. In the case of real property, the physical location is identified (i.e., by address and parcel number). This section is less robust for the sale of easily interchangeable duplicate goods.

Cost and Terms of Purchase


A SPA defined the transaction’s exchange rate. In addition, the agreement specifies what portion of the purchase price is due as a down payment and how that deposit will be made. This section of the contract specifies how the remaining balance (total purchase price minus deposit) will be paid.

Due Dilligence


For the sale of larger assets, the SPA typically contains a section requiring the purchaser to acknowledge their due diligence. Additional due diligence periods that correspond to additional deposits or upfront payments may be outlined in the PSA.

In addition to indemnification statements and the purchaser’s acknowledgment of the condition of the assets, this section likely contains both. In addition, the buyer typically affirms their right to terminate the contract under certain conditions. This section may also include clarification regarding which members of the purchaser’s team are authorized to speak on behalf of the company.

Covenants/Conditions Prior to Close


Generally, an SPA describes the next steps in a transaction. In order for the sale to be legally binding, these conditions must be met; failure to comply with these conditions constitutes a breach of contract. Under these conditions, the buyer may have the right to cancel the sale (if such rights are identified in the section prior).

Many of these covenants concern risk mitigation and asset protection. This section typically describes what a seller must do if unforeseen litigation threatens the transaction. In addition, it specifies what insurance requirements should cover the asset through the sale, what warranties will continue to exist, and confirms the asset’s exclusivity.

Damages/Remedies


In certain instances, it may be necessary to communicate what each party will do if the asset being sold is damaged prior to sale or during transit. This section frequently defines various degrees of damage, such as minor and major. The contract then specifies several remedies for each level of damage.

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Sales And Purchase Agreement In Bangladesh 32

Other Chapters


If applicable, an SPA may contain additional sections. Title and survey information regarding a property is commonly included in real estate transactions. Existing tenants or the current state of the space may be referenced in particular restrictions and conditions.

A SPA typically specifies the applicable broker commissions. In addition to the dollar amount to be paid, an SPA specifies who is responsible for paying commissions and the process and timeline for issuing those payments.

For transactions requiring confidentiality, an SPA outlines the terms of the transaction. This includes the stipulations regarding public or press releases, the use of promotional materials referencing the sale, and the remedies in the event that one party breaches this provision of the contract.

If the sale is contingent on the completion of other transactions, the SPA will outline the consequences of a sale’s termination if the other deal falls through. Imagine a real estate developer attempting to purchase two adjacent properties with the intent of demolishing both to construct a single building. The developer may include language in one SPA that makes the transaction contingent on the execution of the second SPA.

Examples of Spas Available on the Market:


Real estate transactions are one of the most common occurrences of SPAs. As part of the negotiation process, both parties reach an agreement on the final sales price. In addition, other transaction-related details, such as a closing date or contingencies, are included.

Large, publicly traded companies use SPAs in their supply chains. A SPA may be utilized when acquiring a large quantity of materials from a supplier or when making a single large-scale purchase. A company may, for instance, enter into an SPA with a supplier to purchase a specified quantity of goods at a fixed price.

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Sales And Purchase Agreement In Bangladesh 33

A SPA may also function as a contract for revolving purchases such as a monthly delivery of raw materials, inventory, or other tangible goods. Even if delivery is delayed or spread out over time, the purchase/selling price can be established in advance. SPAs are established to assist suppliers and buyers in forecasting demand and costs, and their importance increases as the size of the transaction grows.

In another instance, an SPA is frequently required during the acquisition of one business by another. Because the SPA specifies the exact nature of what is being bought and sold, the agreement may allow a business to sell its tangible assets to a buyer without selling the naming rights associated with the business.

Example of SPA:


Tahrem Investment Holding Limited (the purchaser) and 3DOM Inc (the seller) entered into an SPA for the purchase of the entire issued and paid-up share capital of 3DOM (Singapore) Spc. Ltd. (the target). Under the terms of the SPA, the buyer must acquire from the seller the entire issued and paid-up capital of the target.

Key Sales and Purchase Agreement (SPA) Terms:

The purchaser hired an independent, qualified appraiser to complete a report on the target’s value. The independent expert in valuation, the buyer, and the seller all agreed that the value of the target should be S$1,700,000,000.

Consideration:

The consideration was agreed upon on a willing-buyer and willing-seller basis, following substantive negotiations with the seller, and is based on a 20% discount to the actual valuation of the target as determined by an independent, qualified valuation expert.

The parties have agreed that the consideration will be paid in shares. The buyer shall issue and allot to the seller 1,813,333,333 new fully paid common shares (the shares) in its capital (the consideration shares) at a pre-consolidation issue price of S$0.75 per share.

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Following the acquisition, the target organization will become a subsidiary of the acquirer.

The parties agreed that the buyer will be responsible for paying the transaction fees.

Conditions:

The proposed acquisition is contingent upon the satisfaction or waiver of customary conditions precedent for a transaction of this nature, including but not limited to:

  • the consideration derived from the actual valuation being at least S$1.36 billion;
  • the completion of financial, legal, operational, and any other due diligence on the target by the buyer, and the results of such due diligence being reasonably satisfactory to the buyer;
  • the findings and methodology presented in the valuation report to be issued by the independent qualified valuer being satisfactory to the buyer;
  • the entry into service agreements by the key management of the target, on mutually agreeable terms;
  • the seller procuring the target shall obtain such approval(s) as may be required from the respective target’s board of directors and its shareholder(s) in connection with the SPA;
  • the buyer obtaining such approval(s) as may be required from its directors and shareholders the proposed share issuance;
  • the allotment and issuance of consideration shares at completion;
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Sales And Purchase Agreement In Bangladesh 35

In Bangladesh, the merger and acquisition of companies is regulated by the Bangladesh Securities and Exchange Commission (BSEC) under the Securities and Exchange Ordinance, 1969 and the Securities and Exchange Commission Act, 1993. Additionally, the Bangladesh Competition Act, 2012 regulates the merger and acquisition activity to prevent the creation of monopolies or anti-competitive practices.

In accordance with these laws, any merger or acquisition of a public limited company in Bangladesh must be approved by the BSEC and the shareholders of the companies involved. The BSEC will review the proposed merger or acquisition to ensure that it is fair and in the best interests of the shareholders. Any proposed merger or acquisition that may result in a substantial lessening of competition must be notified to the Bangladesh Competition Commission for review.

Given this context, the following changes will be made to the SPA:

  • The parties involved in the merger or acquisition agree to comply with all relevant laws and regulations in Bangladesh, including but not limited to the Securities and Exchange Ordinance, 1969, the Securities and Exchange Commission Act, 1993 and the Bangladesh Competition Act, 2012.
  • The parties also agree to obtain all necessary approvals and clearance from the BSEC and the Bangladesh Competition Commission before closing the transaction.
  • The proposed acquisition is conditional upon the fulfillment or waiver of customary conditions precedent for a transaction of this nature, including but not limited to the following:
    • Obtaining the approval(s) required from the BSEC and the Bangladesh Competition Commission
    • The seller procuring the target shall obtain such approval(s) required from the respective target‘s board of directors and its shareholder(s) in connection with the SPA;
    • The buyer obtaining such approval(s) as may be required from its directors and shareholders and the proposed share issuance;
  • The parties agree to include any additional terms or conditions as may be required by the laws and regulations of Bangladesh
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Sales And Purchase Agreement In Bangladesh 36

It is important to note that the above is not a comprehensive list and that it’s highly recommended to seek legal and financial advice before finalizing any SPA, as laws and regulations are subject to change.

Here are the steps involved in a merger or acquisition (M&A) of a company in Bangladesh:

Column 1Column 2Column 3
Compliance with laws and regulationsThe parties agree to comply with all relevant laws and regulations in Bangladesh, including but not limited to the Securities and Exchange Ordinance, 1969, the Securities and Exchange Commission Act, 1993 and the Bangladesh Competition Act, 2012.Obtain legal advice to ensure compliance with all relevant laws and regulations.
Approvals and clearanceThe parties agree to obtain all necessary approvals and clearance from the BSEC and the Bangladesh Competition Commission before closing the transaction.Submit the necessary documents and applications to the BSEC and the Bangladesh Competition Commission for review and approval.
Due DiligenceThe parties conduct a thorough due diligence exercise on the target company, including financial, legal, operational, and any other relevant aspects.Hire a due diligence expert to assist with the process and review the results of the due diligence exercise.
ValuationThe parties appoint an independent qualified appraiser to complete a valuation report on the target company.Review and negotiate the valuation report with the seller to arrive at a mutually agreed upon price.
Consideration and PaymentThe parties agree on the terms of the consideration and payment, such as the price, payment method, and any contingencies.Review and negotiate the terms of the consideration and payment with the seller.
StructureThe parties agree on the post-acquisition structure of the target company and any related companies.Review and negotiate the post-acquisition structure with the seller.
Closing and CompletionThe parties finalize all necessary documents, approvals, and conditions for the closing and completion of the transaction.Ensure that all closing and completion requirements are met before finalizing the transaction.

Are you planning to register a private limited company in Bangladesh?

Company formation and registration at Tahmidur Rahman Remura: The Law Firm in Bangladesh:

The legal team of Tahmidur Rahman, The Law Firm in BangladeshRemura: The Law Firm in Bangladesh are highly experienced in providing all kinds of services related to forming and registering a Private Limited Company in Bangladesh . For queries or legal assistance, please reach us at:

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165

Address: House 410, Road 29, Mohakhali DOHS

Start up law in Bangladesh and Funding stages

Start up law in Bangladesh and Funding stages

Start up law in Bangladesh and what exactly is a start up?


A startup is a company in its early stages of development. It is founded by one or more entrepreneurs in order to meet a specific need for a product or service. Startups are high-cost, low-revenue businesses that must rely on outside investors for capital until they can turn a profit.

Types of business entities for startups in Bangladesh

ParameterSole ProprietorPartnershipPrivate Limited Company
OwnershipSingle OwnerMinimum two ownersMore than two Shareholders
TaxationTax Free up to BDT 3 lacsTax Free up to BDT 3 lacsCorporate Tax at 30%
Investment PolicyLoan or Profit sharing financingLoan or Profit sharing financingEquity Investment/Loan/Profit sharing financing
LiabilityProprietor shall be liablePartners shall be liableCompany Shall be liable
NationalityBangladeshiBangladeshiAny national or body corporate

What is the process of startup funding?

Startup funds are given to individuals or groups of individuals in order to raise funds for their new business, allowing it to grow. When investors contribute to the funding of a startup, they do so in the hope of receiving a larger sum of money from the business in the long run. Depending on how much a person has invested in a company, they may be able to make business decisions that affect how the company operates in regards to Start up law in Bangladesh.

StageDescriptionRelevant LawsLegal Structure
Pre seedThe startup is in the early stages of development, with a concept or prototype but no functional product or service. This stage is typically used to fund the development of a prototype, conduct market research, and build a team.Companies Act 1994, Securities and Exchange Ordinance 1969, Bangladesh Competition Act 2010Sole proprietorship, partnership, private limited company
SeedThe startup has developed a functional product or service and is looking to conduct market research and build a team. This stage is typically used to fund the development of the product or service, conduct market research, and build a team.Companies Act 1994, Securities and Exchange Ordinance 1969, Bangladesh Competition Act 2010Sole proprietorship, partnership, private limited company
Series AThe startup has a functional product or service and is looking to scale its operations and enter new markets. This stage is typically used to fund the expansion of the product or service, enter new markets, and achieve profitability.Companies Act 1994, Securities and Exchange Ordinance 1969, Bangladesh Competition Act 2010Sole proprietorship, partnership, private limited company
Series BThe startup has achieved significant growth and is seeking additional funding to support its expansion. This stage is typically used to fund further expansion, acquire other companies, and achieve profitability.Companies Act 1994, Securities and Exchange Ordinance 1969, Bangladesh Competition Act 2010Sole proprietorship, partnership, private limited company
Series C and beyondThe startup has achieved significant growth and is seeking additional funding to support further expansion and profitability. This stage is typically used to fund further expansion, acquire other companies, and achieve profitability.Companies Act 1994, Securities and Exchange Ordinance 1969, Bangladesh Competition Act 2010Sole proprietorship, partnership, private limited company

Let’s take a closer look at the various stages of fundraising in the startup lifecycle in Bangladesh and the Start up law in Bangladesh.

1. Pre Seed Funding:

This prime stage of seed funding occurs so early in the process that it is not even considered startup funding. The pre-seed funding stage generally refers to the time when a startup is getting its operations up and running.

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Pre seed funding is an early stage of startup financing that occurs before a company has developed a fully functioning product or service. It is typically used to fund the development of a prototype, conduct market research, and build a team. In Bangladesh, pre seed funding is an increasingly important source of support for entrepreneurs looking to turn their ideas into reality.

There are several ways to secure pre seed funding in Bangladesh, including through grants, angel investors, and accelerator programs. Grants, such as those provided by the Ministry of Finance’s Startup Dhaka program, can be a valuable source of funding for startups in the pre seed stage.

Angel investors, who are typically successful entrepreneurs or business professionals, can also provide financial support and mentorship to startups in the early stages of development. Accelerator programs, such as Grameenphone Accelerator and BD Venture, provide startups with funding, workspace, and mentorship in exchange for equity in the company.

Pre seed funding is an important step for startups in Bangladesh, as it allows them to develop a solid foundation and build momentum for future growth. It is essential for entrepreneurs to carefully consider their funding options and choose the right path for their business. With the right support, startups in Bangladesh can take their ideas from concept to reality and pave the way for future success.

During the pre-series stage, investors are unlikely to make an investment in exchange for equity in the startup. This stage can last a long time or you can receive pre-series funding quickly. It is determined by the nature of your startup as well as the initial costs that must be considered while developing the business model.

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Bootstrapping refers to the stage of pre-seed funding. Simply put, it means leveraging your existing resources to scale your startup. Startup founders invest from their own pockets in order to grow their businesses as efficiently as possible.

During the startup’s development stage, entrepreneurs may be required to work overtime or take on a second job in order to invest their extra income into their new venture.

To add to what Jonathan said, the pre-seed funding stage enables a fledgling startup to effectively build and distribute their product(s) or service(s). Entrepreneurs typically assess the viability of their idea during the research or development phase. They may have a working prototype of their product and are looking for appropriate funding to scale their startup full-time.

Many entrepreneurs seek advice from founders who have been there and gone through a similar experience as them during this stage. It enables them to calculate the costs of their idea or project, create a winning business model, and gather ideas on how to turn their plan into a running business.

During the pre-series stage, entrepreneurs should also work out any necessary partnership agreements, copyrights, or other legal issues, as similar issues are best resolved during this stage. Later on, they may become prohibitively expensive, if not impossible to overcome. Furthermore, no investor will provide funds to a startup that has legal issues prior to its launch.

Pre-Seed Stage Potential Investors:


The following are the most common pre-series investors:

The most common pre-series investors are:

  • Startup Owners
  • Friends and Family
  • Early Stage Venture Funds (Micro VCs)

Bootstrapping a company can be extremely difficult, particularly during the pre-seed funding stage. Entrepreneurs may have to deplete their savings and even take on additional jobs to fund their businesses.

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It takes a tremendous amount of dedication and effort because success is not guaranteed and there are numerous risk factors to consider when investing your own money in a startup.

However, if done correctly, bootstrapping can provide advantages that traditional investments do not, such as allowing entrepreneurs to retain control over their businesses while potentially achieving higher long-term returns on investment.

Startup Valuation in Pre-Seed Stage

During the pre-seed funding stage, startups value anywhere between $10,000 to $100,000.

Active Pre-Seed Stage Funds

Stage 2: Seed Funding


It’s time to plant the seed after the pre-seeding stage. “Seed funding” is the first stage of startup funding. Almost 29 percent of startups fail due to a lack of capital while bootstrapping, making seed capital critical to getting a business off the ground.

Starting a business in Bangladesh can be a complex and daunting process, but with the right legal support, entrepreneurs can navigate the legal landscape and set their startups up for success.

One of the first steps for any startup in Bangladesh is to choose the appropriate legal structure. The most common legal structures for startups in Bangladesh are sole proprietorship, partnership, and private limited company. Each structure has its own advantages and disadvantages, and it is important for entrepreneurs to carefully consider their options and choose the one that best meets the needs of their business.

Once a legal structure has been chosen, startups in Bangladesh will need to register their business with the relevant authorities. The process for registering a business in Bangladesh varies depending on the legal structure chosen, but it generally involves submitting an application and paying a fee.

Startups in Bangladesh will also need to comply with a range of other legal requirements, including obtaining necessary licenses and permits, registering for taxes, and complying with labor laws. Failure to comply with these requirements can result in fines, penalties, and other legal consequences.

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To ensure that their startups are in compliance with all relevant laws, entrepreneurs in Bangladesh should consider seeking the advice of a legal professional. An experienced lawyer can help entrepreneurs understand their legal obligations and ensure that their businesses are properly set up for success.

Consider the seed funding stage to be analogous to planting a tree. The initial funding is ideally the “seed” that allows any startup to thrive. When you provide appropriate water i.e. a successful business strategy, alongside the dedication of the entrepreneur, the startup will eventually grow into a “tree”.

Because investors are taking a significant risk by investing in the business, startups must provide equity in exchange for seed funding. The stakes are even higher because startups cannot guarantee a successful business model at this stage.

Seed funding enables a startup to fund product launch costs, gain early traction through marketing, initiate critical hiring, and conduct additional market research to develop product-market fit.

Many startups believe that the seed funding round is all that is required to get their startup off the ground.

Potential Seed Stage Investors:


The following are the most common types of investors who participate in seed funding:

  • Angel Investors
  • from friends and family
  • Crowdfunding Startup Valuation & Fundraising in the Seed Stage
  • Early Stage Venture Funds (Micro VCs)


Startups that qualify for seed funding have a business worth between $3 million and $6 million. A promising startup will be able to obtain funding ranging from $50,000 to $3 million during the seed funding stage.

Active Seed Stage Funds

3. Series A funding stage

The first round of venture capital financing is referred to as a stage. By this point, the startup should have a working product and a customer base with consistent revenue flow. It is now time for them to pursue series A funding and optimize their value propositions. This is an excellent opportunity for startups to expand across multiple markets.

It is critical to have a long-term profit plan in place during the Series A funding round. Many startups have great ideas that can generate a large number of enthusiastic users, but they don’t know how to monetize them in the long run.

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The series A funding stage is an important milestone for startups in Bangladesh, as it marks the transition from the early stages of development to a more established and mature business. At this stage, startups typically have a functional product or service and are looking to scale their operations and enter new markets.

To secure series A funding in Bangladesh, startups will need to present a strong business case to investors, including a detailed plan for how they will use the funds to achieve their goals. Startups will also need to demonstrate a track record of success and have a clear path to profitability.

This is the stage at which you should begin learning about fundraising and making early connections with angel investors and venture capitalists. You must identify investors who want to invest in your startup using the 30-10-2 rule.

This rule states that you must find 30 investors willing to invest in your business. Ten of those thirty investors may be interested in your proposal, with two of them actually passing on funds to you.

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Start Up Law In Bangladesh And Funding Stages 54

Angel investors and traditional venture capital firms provide the majority of Series A funding. They are not looking for startups with “great ideas,” but rather for startups with a solid business strategy that can turn their great idea into a successful, money-making organization, allowing the investors to profit from their investment.

A single investor can act as a “anchor,” but once a startup has secured its first investor, attracting additional investors becomes easier. Although angel investors prefer to invest during this stage, they have far less influence than VC firms.

Investors interested in Series A

  • Accelerators
  • Super Angel Investors Venture Capitalists Company Valuation & Series A Fundraising
  • During the Series A funding stage, startups with a good business plan and a valuation of up to $10 million to $30 million can raise approximately $15 million.

Active Series A Investors

4. Series B Funding Stage

Startups that have already gone through the previous startup funding stages (seed funding and Series A) have a sizable user base and a steady stream of revenue. They have demonstrated to their investors that they are capable of achieving success on a larger scale.

Investors help startups by funding market reach activities, increasing market share, and forming operational teams such as marketing, business development, and customer success. The series B funding stage allows startups to grow so that they can meet the various demands of their customers while also competing in competitive markets.

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Start Up Law In Bangladesh And Funding Stages 55

In terms of processes and key players, the Series B funding stage may appear to be similar to the previous funding stage; however, Series B funding is frequently led by the same characters, including a key anchor investor who helps you attract other investors.

The main difference is the addition of a new wave of VCs who specialize in investing in well-established startups in order for them to exceed expectations even further.

“The dilemma is that while your Series A investors were extremely important to you during that round, they may not be the investors you need going forward. If you’re in a position where going public is a real possibility, you’ll need crossover investors who will be there for you both now and when you go public,” says Praveen Tipirneni, MD & CEO of Morphic Therapeutic Inc.

Potential Series B Investors

  • Venture Capitalists
  • Late stage VCs

Company Valuation & Fundraising in Series B Startups with a revenue-generating model and a valuation of up to $30 million to $60 million can raise up to $30 million during the Series B funding stage.

Active Series B Investors

5. Series C Funding Stage

Startups that reach the series C funding stage should be well on their way to success. These startups seek additional funding to help them develop new products, enter new markets, and even acquire other underperforming startups in the same industry.

Investors happily fund successful startups in the series C funding stage. They are hoping to make a profit that exceeds their investment. The Series C funding stage focuses on rapidly scaling the startup.

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Start Up Law In Bangladesh And Funding Stages 56

With Series C funding, you can significantly scale your startup by acquiring other startups. Your startup operations are now less risky, and more investors are joining the fray. During the Series C stage, many hedge funds, investment banks, and private equity firms will gladly invest in your startup.

The reason for this is that the startup has already proven to be a commercial success. New investors enter the game by investing large sums of money in thriving startups in order to establish themselves as leading investors.

Remember that startups that receive Series C funding are well-established, have a strong customer base, have stable revenue streams as well as proven growth histories, and want to expand their operations on a global scale. If you haven’t completed any of the above, you aren’t ready for Series C funding.

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Potential Investors for Series C

  • Late stage VCs
  • Private Equity Firms
  • Hedge Funds
  • Banks

Company Valuation & Fundraising in Series C

Startups with a good business growth valuing up to $100 million to $120 million are able to raise approximately $50 million during the Series C funding stage.

6. Series D Funding Stage and Beyond

This stage is not required by many startups. The Series D funding stage enables entrepreneurs to raise funds for a one-time event. For example, a merger, or if it has not yet met its growth target.

If a startup has not yet gone public but is considering a merger with a competitor on agreeable terms, it may consider series D funding. Series D funding provides startups with the most viable solutions, allowing them to confront problems head on by merging with another startup.

Furthermore, if a startup is unable to achieve its growth milestone with series C funds, it will require additional funds through series D funding to stay afloat.

Potential Investors for Series D

  • Late stage VCs
  • Private Equity Firms
  • Hedge Funds
  • Banks

Company Valuation & Fundraising in Series D

Startups in this stage may value around $150 million to $300 million are able to raise approximately $100 million during this startup funding stage.

Active Series C & D Investors

7. Initial Public Offering (IPO) in Bangladesh

The process of initial public offering (IPO) in Bangladesh involves offering corporate shares to the general public for the first time. Startups that need funding and established organizations looking to allow startup owners to exit some or all of their ownership may use this process to generate funds by selling shares to the general public.

To go through the IPO process in Bangladesh, a startup will need to form an external public offering team that includes underwriters, lawyers, certified public accountants, and experts from the Bangladesh Securities and Exchange Commission (BSEC).

The startup will also need to compile information about its financial performance and expected future operations, and have its financial statements audited to generate an opinion about its public offering. The startup will then file its prospectus with the BSEC and determine a specific date for going public.

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There are several benefits to IPO for startups in Bangladesh, including the ability to raise funds, access to additional funds through secondary offerings, the ability to compensate executives through stock, and the ability to recruit better talent. Public organizations may also find it easier to pursue mergers, as they can use their public shares to acquire other startups.

When a startup decides to go public, a specific set of events occur during the IPO process. They include:

  • Formation of an external public offering team comprising of underwriters, lawyers, certified public accountants, and SEC experts.
  • Compilation of the startup’s Information including its financial performance as well as its expected future operations.
  • Audit of the startup’s financial statements takes place which generates an opinion about its public offering.
  • The startup files its prospectus with the SEC and determines a specific date for going public.

Benefits of IPO

Raising funds for the startup is not the only benefit that entrepreneurs enjoy in case of a public offering. Some other advantages are:

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  • A public organization is able to generate additional funds through secondary offerings as it already has access to public markets.
  • Many public organizations compensate executives through stock. The stocks of a public organization are more attractive to employees as the stocks can be sold easily. Also, being public allows an organization to recruit better talent as well.
  • Mergers are easier for a public organization as it can utilize its public shares to acquire another startup.

Meet The Most Active Startup Investors Of 2022 in Bangladesh:

LetsVenture

LetsVenture, founded in 2013 by Shanti Mohan and Sanjay Jha, is a startup investment marketplace that allows investors to discover and invest in startups through its proprietary technology platform.

LetsVenture completed 360 transactions in 2022. Among its notable investments this year was its participation in the Series A funding round of Burger Singh, a homegrown quick service restaurant chain. It also invested in Sanfe, a feminine hygiene startup, and Evenflow, an ecommerce rollup startup.

LetsVenture will also collaborate with the Ministry of Electronics and Information Technology in 2022 to invest in early-stage startups through the government’s SAMRIDH startup accelerator program.

AngelList India

AngelList, founded in 2009 by Naval Ravikant, allows investors to invest as little as $1,000 alongside accredited backers via investment syndicates. In 2019, it launched an India-focused venture and angel fund.

In 2022, AngelList India participated in 285 funding transactions. During the year, it invested in B2B manufacturing and supply chain enablement startup Magma, content sharing startup SuperShare, and coliving marketplace Crib, among others.

Venture Catalysts

Dr. Apporva Ranjan Sharma and Anuj Golecha founded the Mumbai-based integrated incubator, which typically invests $200K to $2 Mn in early-stage startups. The investments are syndicated, with HNIs, family offices, and CXOs participating.

In 2022, Venture Catalysts partnered with the Confederation of Real Estate Developers’ Associations of India (CREDAI) to establish a $100 million proptech fund to invest in early-stage and growth-stage startups in a variety of real estate sub-sectors.

In 2022, Venture Catalysts invested in 207 deals, including investment tech startup AlgoBulls, spacetech startup Agnikul, and intercity mobility startup Zingbus, among others.

Sequoia Capital

The US-based venture capital (VC) firm launched a $2 billion early stage venture and growth fund for India in 2022. The fund’s closure was announced in June 2022.

In 2022, Sequoia Capital completed 86 investment deals in India and backed startups such as SaaS unicorn Chargebee, B2B SaaS platform CleverTap, and Scaler Academy.

2022 was a difficult year for the VC firm’s India arm as its portfolio startups like BharatPe, Zilingo, and Trell were embroiled in controversies, raising questions about the corporate governance at its companies. Following this, Sequoia India released a blog post outlining how it looks at the corporate governance issues and “a set of proactive steps” to counter misconduct.

Better Capital

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Start Up Law In Bangladesh And Funding Stages 60

Founded in 2018 and run by Silicon Valley entrepreneur Vaibhav Domkundwar, Better Capital is backed by founders, operators and investors from across the world. Former and current leaders at Meta, Google, Uber, LinkedIn, Tiger Global, TPG, and the World Bank are among its backers.

In 2022, Better Capital participated in 75 funding deals in the Indian startup ecosystem, including those of fintech startups Gullak and M2P Fintech and creator-owned marketplace startup HYPD.

We Founder Circle

Founded in 2020 by Gaurav Sanghavi, Neeraj Tyagi, Bhawna Bhatnagar, Deo Saurabh and Vikas Aggarwal, We Founder Circle has backed over 70 homegrown startups till now. It has a wide network of 6,500 investors across 40 countries.

In December 2022, the investment firm launched two angel funds – $24 Mn angel fund ‘Invstt Trust’ and $30 Mn cross-border angel fund ‘We Founder Circle Global Angels Fund’.

In 2022, it participated in 71 funding deals of startups. It led seed funding round of smart parking solutions platform ParkMate and pre-seed funding round of Uma Robotics. Besides, it also invested in foodtech startup Anveshan.

Stride Ventures

Founded in 2019 by Ishpreet Gandhi, the Delhi-based venture debt firm invests in startups working in diverse sectors such as fintech, agritech, B2B commerce, healthtech, B2B SaaS, mobility and energy solutions.

In August 2022, Stride Ventures closed its second fund, Stride Ventures India Fund II, with a corpus of $200 Mn to write cheques between $4 Mn–$5 Mn to 60-70 startups over a period of four years.

It participated in 55 funding rounds in 2022, including that of agritech startup WayCool, EV-ride hailing platform BluSmart, and EV battery swapping network Battery Smart. 

Here are some usual documents that you need from us for your startup in Bangladesh:

DocumentPurposeAdditional Information
Founders AgreementOutlines the rights and responsibilities of the company’s foundersTypically includes information such as equity ownership, decision-making authority, and exit strategy
Partnership AgreementsDefines the terms of a partnership between two or more partiesTypically includes information such as profit sharing, decision-making authority, and dispute resolution
Investment Term SheetOutlines the terms of an investment in the companyTypically includes information such as investment amount, ownership percentage, and rights of the investors
Shareholders’ Agreement (SHA)Outlines the rights and responsibilities of the company’s shareholdersTypically includes information such as voting rights, buy-sell provisions, and restrictions on transferring shares
Share Transfer/Purchase Agreement (SPA)Details the terms of a share transfer or purchaseTypically includes information such as purchase price, payment terms, and representations and warranties of the parties
Due Diligence ReportAssesses the potential risks and opportunities of a proposed investment or transactionTypically includes information such as financial performance, legal compliance, and market analysis
Flat/Rent Lease AgreementOutlines the terms of a lease for a flat or commercial spaceTypically includes information such as rental amount, lease term, and responsibilities of the landlord and tenant
Non-Disclosure Agreement (NDA)Protects confidential information shared between partiesTypically include information such as scope of the confidential information, duration and territory of the agreement, and exclusions of protection
Non-Compete AgreementPrevents an individual from competing against their employer or disclosing confidential informationTypically includes information such as the scope of the non-compete, time period of the agreement, and exclusions of protection
Independent Contractor AgreementOutlines the terms of a contractor-client relationshipTypically includes information such as scope of work, payment terms, and termination rights
Letter of IntentExpresses an intent to move forward with a proposed transaction or investmentTypically includes information such as key terms and conditions of the transaction, and exclusions of liability
Demand LetterRequests payment or action in a disputeTypically includes information such as a summary of the dispute, the demanded amount or action, and a deadline for compliance
Memorandum of Understanding (MOU)Outlines the general terms of an understanding or agreement between partiesTypically includes information such as scope of the agreement, key terms, and exclusions of liability
Collaboration AgreementOutlines the terms of a collaboration between two or more partiesTypically includes information such as scope of the collaboration, ownership of intellectual property, and dispute resolution
Joint Venture Agreement (JVA)Outlines the terms of a joint venture between two or more partiesTypically includes information such as scope of the joint venture, ownership of intellectual property, and dispute resolution
Organization Meeting MinutesRecords the decisions made during an organizational meeting of a companyTypically includes information such as the date and time of the meeting, attendees, and actions taken
General Corporate ResolutionRecords a decision made by a corporation’s board of directors or shareholdersTypically includes information such as the date of the resolution, attendees, and actions taken
Service AgreementOutlines the terms of a service provided by one party to anotherTypically includes information such as scope of the service, payment terms, and termination rights

Here is a table with frequently asked questions about startup law in Bangladesh:

FAQAnswer
1. What are the common legal structures for startups in Bangladesh?The most common legal structures for startups in Bangladesh are sole proprietorship, partnership, and private limited company.
2. How do I register my startup in Bangladesh?The process for registering a startup in Bangladesh varies depending on the legal structure chosen, but generally involves submitting an application and paying a fee to the relevant authorities.
3. Do I need to obtain any licenses or permits to start a business in Bangladesh?It depends on the type of business you are starting. Some businesses may require specific licenses or permits to operate legally in Bangladesh.
4. How do I comply with labor laws in Bangladesh?Startups in Bangladesh must comply with the Bangladesh Labor Act 2006 and other relevant laws, which set out the rights and obligations of employers and employees. This includes paying appropriate wages, providing safe working conditions, and respecting the rights of employees.
5. Can I raise funds for my startup in Bangladesh?Yes, there are several options for raising funds for a startup in Bangladesh, including grants, angel investors, and venture capital firms.
6. What are the tax obligations for startups in Bangladesh?Startups in Bangladesh are required to register for taxes and comply with relevant tax laws. This includes paying corporate income tax, value-added tax, and other applicable taxes.
7. How do I protect my intellectual property in Bangladesh?Startups in Bangladesh can protect their intellectual property by registering patents, trademarks, and copyrights with the relevant authorities. It is also important to have robust confidentiality and non-disclosure agreements in place to protect proprietary information.
8. Can I hire foreign employees in Bangladesh?Yes, startups in Bangladesh can hire foreign employees, but they will need to obtain work visas and comply with relevant immigration laws.
9. How do I register a trademark in Bangladesh?To register a trademark in Bangladesh, you will need to file an application with the Trademarks, Designs and Geographical Indications Office and pay a fee. The application process can take several months to complete.
10. Can I sell shares of my startup in Bangladesh?Yes, startups in Bangladesh can sell shares to raise funds, but they will need to comply with relevant securities laws and disclose information about the company to potential investors.
11. How do I register a patent in Bangladesh?To register a patent in Bangladesh, you will need to file an application with the Intellectual Property Office and pay a fee. The application process can take several months to complete.

Start-up department in Tahmidur Rahman Remura law firm in Bangladesh:

The Barristers, Advocates, and lawyers at TLS in Gulshan, Dhaka, Bangladesh are highly experienced at dealing with Start up funding, seed stages local and foregin direct investment, where we assist clients in setting up of the complete business irrespective of whether it is within a specialized zone or any other part of Bangladesh

In TR Barristers in Bangladesh, our experience helps us to efficiently execute local and cross-border global transactions while helping you at all stages of the process and offering you cost-effective, realistic business solutions.

In addition to handling various issues related to domestic clients on a regular basis, it also has experience in consulting and assisting numerous international clients with utmost care and attention throughout their legal exploration in Bangladesh. For queries or legal assistance in regards to the Procedure of foreign investment in Bangladesh, please reach us at:

 E-mail:[email protected]
Phone:+8801847220062 or +8801779127165

House 410, Road 29, Mohakhali DOHS

How to get justice against physical torture in Bangladesh

How to get justice against physical torture in Bangladesh

Physical torture in Bangladesh ( Assault and threats)

In Bangladesh, assault and threats charges are governed by the Penal Code, which defines various offenses related to violence and threats of violence.

Under the Penal Code, assault is defined as the act of causing or attempting to cause physical harm to another person. It is punishable by imprisonment for up to one year, or by a fine, or by both. If the assault results in serious injury, the punishment may be increased to imprisonment for up to seven years.

Threats, also known as criminal intimidation, are defined as the act of threatening another person with harm or injury. Threats can be verbal or written, and they can be made directly to the victim or through a third party. Threats are punishable by imprisonment for up to two years, or by a fine, or by both. If the threats are made in writing, the punishment may be increased to imprisonment for up to seven years.

In addition to the Penal Code, the Domestic Violence (Prevention and Protection) Act, 2010 provides protection to victims of domestic violence and provides for the punishment of perpetrators of domestic violence. The act defines domestic violence as any act or conduct that causes physical, psychological, or economic harm or suffering to a person. It provides for the issuance of protection orders to prevent further abuse and for the punishment of those who violate such orders.

If you have been charged with assault or threats in Bangladesh, it is important to seek legal assistance as soon as possible. An experienced criminal defense lawyer can help you understand your rights and options, and can work with you to develop a defense strategy. Some possible defenses to assault and threats charges include self-defense, defense of others, and lack of intent.

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It is also important to remember that being charged with a crime does not necessarily mean you will be convicted. With the help of a skilled lawyer, you may be able to get the charges against you reduced or dismissed, or you may be able to negotiate a plea deal that results in less severe penalties.

If you have been charged with assault or threats in Bangladesh, it is important to take the charges seriously and to seek legal assistance as soon as possible. An experienced criminal defense lawyer can help you navigate the legal system and fight for your rights.

Options if you are getting tortured by someone in Bangladesh:

If you have been physically abused in Bangladesh, there are several legal options available to you. These options include:

  1. Filing a police report: If you have been physically abused, it is important to report the abuse to the police as soon as possible. This will not only help to protect you from further abuse, but it will also help to build a case against the person who abused you. When you file a police report, be sure to provide as much detail as possible about the abuse, including the date, time, location, and any injuries you sustained.
  2. Filing a complaint with a human rights organization: There are several human rights organizations in Bangladesh that can assist you in seeking justice for physical abuse. These organizations can provide you with legal assistance, help you file a police report, and advocate on your behalf.
  3. Filing a civil lawsuit: If you want to seek compensation for the physical abuse you have suffered, you can file a civil lawsuit against the person who abused you. In a civil lawsuit, you can seek damages for medical expenses, lost wages, and other costs related to the abuse.
  4. Filing a criminal complaint: In some cases, the person who physically abused you may be charged with a crime. If this is the case, you can file a criminal complaint against the person and cooperate with the police and prosecutors as they build their case.
  5. Seeking a restraining order: If you are in immediate danger of being physically abused again, you can seek a restraining order to prevent the person who abused you from having any further contact with you.

It is important to note that seeking justice for physical abuse can be a difficult and complex process. However, by taking action and pursuing legal recourse, you can increase your chances of getting the justice you deserve. If you have been physically abused, it is important to seek help and to not be afraid to speak out about the abuse.

Here is a table outlining relevant laws and sections in Bangladesh related to physical abuse and bail options:

Law/SectionDescriptionBail Options
Penal Code, Section 323This section of the Penal Code criminalizes causing voluntary hurt. It states that anyone who intentionally or recklessly causes hurt to another person can be punished with imprisonment for up to one year, or with a fine, or with both.Bail may be granted by a court at the discretion of the judge. Factors that may be considered when determining whether to grant bail include the severity of the offense, the likelihood of the accused fleeing, and the risk of the accused committing further crimes.
Penal Code, Section 325This section of the Penal Code criminalizes causing grievous hurt. It states that anyone who causes hurt that is likely to cause death, or that causes the loss of a limb or organ, or that permanently disables a person, can be punished with imprisonment for up to seven years, or with a fine, or with both.Bail may be granted by a court at the discretion of the judge. Factors that may be considered when determining whether to grant bail include the severity of the offense, the likelihood of the accused fleeing, and the risk of the accused committing further crimes.
Penal Code, Section 326This section of the Penal Code criminalizes causing hurt with a dangerous weapon. It states that anyone who causes hurt to another person by using a dangerous weapon can be punished with imprisonment for up to ten years, or with a fine, or with both.Bail may be granted by a court at the discretion of the judge. Factors that may be considered when determining whether to grant bail include the severity of the offense, the likelihood of the accused fleeing, and the risk of the accused committing further crimes.
Domestic Violence (Prevention and Protection) Act, 2010This act provides protection to victims of domestic violence and provides for the punishment of perpetrators of domestic violence. It defines domestic violence as any act or conduct that causes physical, psychological, or economic harm or suffering to a person.Bail may be granted by a court at the discretion of the judge. Factors that may be considered when determining whether to grant bail include the severity of the offense, the likelihood of the accused fleeing, and the risk of the accused committing further crimes.
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How to get justice against the abuse:

Getting justice for physical torture in Bangladesh can be a difficult and complex process. However, there are steps you can take to help ensure that you get the justice you deserve.

  1. Document the abuse: It is important to document the physical abuse you have suffered. This may include taking photos of any injuries you have sustained, keeping a diary of the abuse, and keeping any medical records or other documentation related to the abuse.
  2. Seek medical attention: If you have been physically abused, it is important to seek medical attention as soon as possible. This will not only help you receive the necessary treatment for your injuries, but it will also provide you with important documentation of the abuse.
  3. Report the abuse to the authorities: If you have been physically abused, it is important to report the abuse to the authorities. You can do this by contacting the police or by filing a complaint with a local human rights organization.
  4. Gather evidence: In order to get justice for the physical abuse you have suffered, it is important to gather as much evidence as possible. This may include witness statements, medical records, and other documentation related to the abuse.
  5. Seek legal assistance: If you want to pursue legal action against the person who physically abused you, it is important to seek legal assistance. This can be done by contacting a local human rights organization or by hiring a lawyer.
  6. Consider seeking compensation: In some cases, it may be possible to seek compensation for the physical abuse you have suffered. This may include damages for medical expenses, lost wages, and other costs related to the abuse.
  7. Don’t give up: Pursuing justice for physical abuse can be a long and difficult process. It is important to stay strong and to not give up, even if it seems like the odds are against you.

It is important to note that physical abuse is a serious issue that should not be tolerated. If you or someone you know has been the victim of physical abuse, it is important to take steps to get the justice you deserve. By following the steps outlined above, you can increase your chances of getting the justice you deserve.

In section 2(6), the law borrows the definition of ‘torture’ from the 1984 Convention, stating that ‘torture’ means any act that causes physical or mental pain and suffering to a person. Torture includes, among other things, inflicting physical and mental pain on a person in order to obtain information or a confession, punishing a person for an act he committed or is suspected of committing, or intimidating or coercing him or a third person.

Furthermore, infliction of pain or suffering is torture when done for any reason based on discrimination of any kind, or by or with the consent of a public official or other person acting in an official capacity. Section 12 states that war, the threat of war, internal political instability, an emergency situation, or any order from a superior officer/authority can never be used as justification for torturing someone.

Section 2(7) defines custodial death as the death of a person in the custody of a public official. Furthermore, it includes the death of a person while being illegally detained or arrested by any member of a law enforcement agency. It also refers to the death of a person during interrogation or remand, regardless of whether he is a witness or not in a case.

Under section 2(8) of this Act, a victim or aggrieved person is defined as someone who has been directly tortured or whose acquaintance has been tortured.

Section 4 of the Act empowers the Court to immediately write a record of torture when anyone appears before it with a complaint of torture. The Court will order that the tortured person be examined by a registered doctor. In the case of a female victim, she should be examined by a female doctor.

The doctor must prepare a report within 24 hours describing the victim’s injuries and pain, as well as the possible time when the victim was tortured. The reports must be submitted to the Court and distributed to the complainant or anyone he designates.

Section 5 states that the Court will send a copy of the torture record to the Police Super or any Police Officer of higher rank, as well as an order to file a criminal case. If the doctor recommends that the victim be admitted to a hospital, the Court will make the necessary arrangements.

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Upon receipt of this order, the Police will investigate the complaint and submit a report, either with or without charges. However, if the Court is satisfied on the application of the aggrieved person that the Police cannot properly complete the investigation, the Court can issue an order for a judicial inquiry.

Section 6 allows a third party to file a complaint of torture, and the Court is required to issue an order for the complainant’s safety and protection. Even the Court has the authority to go to the location of the alleged torture.

Section 8 of this law requires that investigations be completed within 90 days of the complaint being filed. In exceptional cases, the investigation may be delayed for up to 30 days after hearing the victim or aggrieved party. Torture offenses are cognizable, non-compoundable, and non-bailable under this law.

Under Section 11, the complainant may petition the Session Judge Court for safety and protection. The state and the alleged accused can be made parties in such a petition, which must be resolved within 14 days after serving a seven-day notice on the opposing party.

While deciding the case, the Court may detain the opposing party for a maximum of seven days, with the option to extend the period at any time. To ensure the complainant’s safety, the Court may move to a specific location and prohibit the opposing party from entering.

The accused bears the burden of proving their innocence. The Session Judge Court must complete the trial under this Act within 180 days, but the time can be extended by up to 30 days. An offender can be sentenced to up to 5 years in prison or a fine of up to BDT 50,000, or both.

Section 15 stipulates that the victim or aggrieved party be compensated with BDT 25,000. If the victim dies as a result of torture, the offender will face life imprisonment or a fine of up to BDT 1 lakh, or both. In this case, the victim’s family or those who have been wronged will be compensated with BDT 2 lakh. The decision of the Session Judge Court can be appealed to the High Court Division.

Here is a table of frequently asked questions about Bangladeshi law on various criminal offenses:

TopicQuestionAnswer
Assault & Threats ChargesWhat is assault in Bangladesh?Assault in Bangladesh is defined as the act of causing or attempting to cause physical harm to another person. It is punishable by imprisonment for up to one year, or by a fine, or by both. If the assault results in serious injury, the punishment may be increased to imprisonment for up to seven years.
What are threats in Bangladesh?Threats, also known as criminal intimidation, are defined as the act of threatening another person with harm or injury. Threats can be verbal or written, and they can be made directly to the victim or through a third party. Threats are punishable by imprisonment for up to two years, or by a fine, or by both. If the threats are made in writing, the punishment may be increased to imprisonment for up to seven years.
Bribery ChargesWhat is bribery in Bangladesh?Bribery in Bangladesh is defined as the act of offering, giving, receiving, or agreeing to receive a benefit in exchange for influencing the performance of a public or official duty. It is punishable by imprisonment for up to seven years, or by a fine, or by both.
Women & Child AbuseWhat is domestic violence in Bangladesh?Domestic violence in Bangladesh is defined as any act or conduct that causes physical, psychological, or economic harm or suffering to a person. It is punishable by imprisonment for up to one year, or by a fine, or by both. The Domestic Violence (Prevention and Protection) Act, 2010 provides for the issuance of protection orders to prevent further abuse and for the punishment of those who violate such orders.
Dowry Prohibition CasesWhat is dowry prohibition in Bangladesh?Dowry prohibition in Bangladesh refers to the practice of giving or receiving money, property, or other goods as a condition for a marriage. It is punishable by imprisonment for up to five years, or by a fine, or by both. The Dowry Prohibition Act, 1980 provides for the punishment of those who give or receive dowry.
PornographyWhat is pornography in Bangladesh?Pornography in Bangladesh refers to any material that is sexually explicit or suggestive. It is punishable by imprisonment for up to ten years, or by a fine, or by both. The Pornography Control Act, 2012 provides for the punishment of those who produce, distribute, or possess pornography.
Misuse of Information, TechnologyWhat is the misuse of information technology in Bangladesh?The misuse of information technology in Bangladesh refers to the unauthorized use of computers, computer systems, or computer networks. It is punishable by imprisonment for up to three years, or by a fine, or by both. The Information and Communication Technology Act, 2006 provides for the punishment of those who misuse information technology.
Drugs Related CrimesWhat are drugs related crimes in Bangladesh?Drugs related crimes in Bangladesh refer to offenses involving the possession, use, sale, or distribution of illegal drugs. It is punishable by imprisonment for up to ten years, or by a fine, or by both. The Narcotics Control

Why Tahmidur Remura is one of the most coveted criminal prosecution and defence lawyers:

Tahmidur Rahman Remura is a highly respected criminal defense law chamber in Bangladesh. We are dedicated to providing our clients with the best possible legal representation and ensuring that they are able to make informed decisions about their cases. Our team of experienced attorneys is equipped to handle a wide range of criminal cases, including murder, sex offenses, corruption, and drug crimes, among others. We have appeared in all levels of court, up to the Supreme Court of Bangladesh, and have a track record of success in high profile cases.

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At our initial meeting, we will listen to your story and explain the legal process to you in detail. We will also help you understand your options and make a decision about whether to plead guilty or go to trial. If you choose to have a trial, we will review all relevant documentation, including police and court records, to help you build a strong defense.

When you are facing charges:

If you are facing criminal charges, it is important to seek legal representation as soon as possible. Prior to your first appointment with us, please gather all relevant information, including the exact charge you are facing, your next court date and location, and any documentation related to the charge. We are here to help you navigate the legal system and fight for your rights.

We can help you in the prosecution and defence of the following matters:

  • Murder / manslaughter (including manslaughter)
  • Sex offences
  • Corruption
  • Death by dangerous driving
  • Kidnapping
  • Violent disorder
  • Armed robbery
  • Arson / criminal damage
  • Blackmail
  • Possession / supply of drugs
  • Inquests

f you require any assistance or consultation, please visit our office or contact us at +8801779127165 or +8801847220062 (WhatsApp) or by email- [email protected] 

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165 or +8801708080817

Address: House 410, Road 29, Mohakhali DOHS, Dhaka 1206

How to oppose a suit lodged by a bank in Bangladesh

How to oppose a suit lodged by a bank in Bangladesh

How to oppose a suit lodged by a bank in Bangladesh

If you have been served with a lawsuit from a bank in Bangladesh, you will need to respond to the lawsuit in order to present your side of the case. One way to respond is to file an “answer” to the lawsuit.

 This is a document in which you can raise any defenses or arguments that you have to the bank’s claims. You will need to follow the procedures set forth by the court in order to properly file your answer.

You should also consider seeking the advice of a lawyer to help you understand your legal rights and options. A lawyer can help you prepare a strong defense to the bank’s claims and represent you in court.

In Bangladesh, a default judgment is a judgment entered by the court in favor of the plaintiff (in this case, the bank) if the defendant (you) fails to properly respond to the lawsuit or appear in court for a hearing. 

This can happen if you do not file an answer to the lawsuit within the time required by the court, or if you fail to attend a scheduled court hearing.

If a default judgment is entered against you, it means that the court has granted the bank’s requested relief without considering your defenses or arguments. This can have serious consequences, such as the bank being able to garnish your wages or seize your assets to satisfy the judgment.

To avoid a default judgment, it is important to respond to the lawsuit promptly and to follow the procedures set forth by the court. 

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It is important to act promptly in responding to a lawsuit, as failing to do so can result in a default judgment being entered against you. This means that the court may grant the bank’s requested relief without considering your defenses or arguments.

Here are the steps you can take to oppose a lawsuit filed by a bank in Bangladesh:

  1. Review the lawsuit and make sure you understand the bank’s claims and the relief it is seeking.
  2. Consider seeking the advice of a lawyer. A top lawyer can help you understand your legal rights and options, and can represent you in court.
  3. File an “answer” to the lawsuit. This is a document in which you can raise any defenses or arguments that you have to the bank’s claims. You will need to follow the procedures set forth by the court in order to properly file your answer.
  4. Prepare your defense. You will need to present evidence and arguments to support your defenses to the bank’s claims. This may include gathering documents, witness statements, and other types of evidence.
  5. Attend any court hearings or proceedings. You will need to attend any court hearings or proceedings related to the lawsuit. This is your opportunity to present your defense to the court and to challenge the bank’s evidence and arguments.
  6. Consider negotiating a settlement. If you are unable to successfully defend against the bank’s claims, you may want to consider negotiating a settlement. This can involve agreeing to pay the bank a certain amount of money in order to resolve the case.

It is important to act promptly in responding to a lawsuit and to follow the procedures set forth by the court. Failing to do so can result in a default judgment being entered against you.

Steps of a Money Loan (Artha Rin) Court Suit in Bangladesh:

ProcedureDescription
Auction before filing suitIn certain cases, the lender may be required to hold an auction of the borrower’s assets before filing a lawsuit to recover the unpaid balance of the loan. This is governed by section 12 of the Money Loan Court Act, 1990.
Special time limit for filing suitThe lender may have a special time limit for filing a lawsuit to recover the unpaid balance of the loan. This is governed by section 46 of the Money Loan Court Act, 1990.
Limitation of claimThe lender may only be able to recover the unpaid balance of the loan up to a certain amount. This is governed by section 47 of the Money Loan Court Act, 1990.
Interest CalculationThe lender may be entitled to recover interest on the unpaid balance of the loan. The calculation of interest may be governed by section 50 of the Money Loan Court Act, 1990.
PlaintThe lender will file a complaint with the court, alleging that the borrower has defaulted on the loan and seeking to recover the unpaid balance. This is known as a “plaint” and is governed by section 8 of the Money Loan Court Act, 1990.
Summons /SR (Summons Return)The borrower will be served with a summons, which will inform them of the lawsuit and the date of the first court hearing. The borrower may also be required to file a “summons return” acknowledging receipt of the summons. This is governed by section 7 of the Money Loan Court Act, 1990.
Written statement (WS)The borrower may be required to file a written statement setting forth their defenses or arguments to the lender’s claims. This is known as a “written statement” and is governed by sections 9 and 10 of the Money Loan Court Act, 1990.
Additional statement against written statement (WS)The lender may have the option to file an additional statement in response to the borrower’s written statement. This is governed by section 11 of the Money Loan Court Act, 1990.
Exparty DecreeIn certain cases, the court may enter a “exparty decree” without a hearing, if the borrower fails to file a written statement or appear in court. This is governed by section 19 of the Money Loan Court Act, 1990.
ADR (Alternative Dispute Resolution)The parties may have the option to engage in alternative dispute resolution, such as mediation or arbitration, in an effort to resolve the case without a trial. This is governed by sections 22-25 of the Money Loan Court Act, 1990.
HearingA hearing will be held to allow both parties to present their evidence and arguments. This may be held before a judge or a jury, depending on the specific circumstances of the case and the rules of the particular court.
ArgumentBoth parties will have the opportunity to present their evidence and arguments to the court. This may include witness testimony and documentary evidence, such as loan documents and records of payments made or not made. The parties may also be able to cross-examine the other party’s witnesses.
Judgement and decreeAfter considering the evidence and arguments presented by both parties, the court will render a decision. If the borrower is found to be in default, the court may enter a judgment in favor of the lender, ordering the borrower to pay the unpaid balance of the loan. This is known as a “judgment and decree” and is governed by section 16 of the Money Loan Court Act, 1990.
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For detailed understanding, here is a explanation of the steps involved in a money loan (artha rin) court suit in Bangladesh:

  1. The lender files a lawsuit against the borrower. The lender will file a complaint with the appropriate court, alleging that the borrower has defaulted on the loan and seeking to recover the unpaid balance. The complaint will typically include details about the loan agreement, the amount of money owed, and the lender’s efforts to collect the debt.
  2. The borrower is served with the lawsuit. The borrower will be served with a copy of the lawsuit and a summons, which will inform them of the lawsuit and the date of the first court hearing. The summons will typically contain information about the time and place of the hearing, as well as the borrower’s obligations and rights in the lawsuit.
  3. The borrower responds to the lawsuit. The borrower has the option to file an “answer” to the lawsuit, in which they can raise any defenses or arguments they have to the lender’s claims. The answer is typically due within a certain number of days after the borrower is served with the lawsuit. If the borrower fails to file an answer, they may be at risk of a default judgment being entered against them.
  4. The court schedules a hearing. The court will schedule a hearing to allow both parties to present their evidence and arguments. The hearing may be held before a judge or a jury, depending on the specific circumstances of the case and the rules of the particular court.
  5. The parties present their cases. Both parties will have the opportunity to present their evidence and arguments to the court. This may include witness testimony and documentary evidence, such as loan documents and records of payments made or not made. The parties may also be able to cross-examine the other party’s witnesses.
  6. The court renders a decision. After considering the evidence and arguments presented by both parties, the court will render a decision. If the borrower is found to be in default, the court may enter a judgment in favor of the lender, ordering the borrower to pay the unpaid balance of the loan. If the borrower is found not to be in default, the court may dismiss the case.
  7. The borrower can appeal the decision. If the borrower is unhappy with the court’s decision, they may have the option to appeal the decision to a higher court. The appeal process will typically involve the submission of additional legal briefs and possibly a new hearing before the higher court.
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It is important to note that these are general steps and that the specific procedures may vary depending on the specific circumstances of the case and the rules of the particular court. It is also important to seek the advice of a lawyer to help you understand your legal rights and options.

Steps of an Artha Rin execution suit in Bangladesh:

StepDescription
Filing of Artha Rin Execution Suits (section 27)This step involves the filing of a suit in court seeking the execution of an Artha Rin (money judgment) order. The plaintiff must provide evidence to support their claim and the defendant must be given an opportunity to defend themselves.
Time limit for Filing of Artha Rin Execution Suits (section 28)There is a time limit for the filing of Artha Rin execution suits, as specified in section 28 of the relevant legislation. The time limit may vary depending on the circumstances of the case.
Summon (section 30)After the suit has been filed, the court may issue a summon to the defendant, requiring them to appear in court and answer the plaintiff’s claims. The summon must be served on the defendant in a manner prescribed by law.
Auction (section 33)If the defendant fails to pay the Artha Rin amount, the court may order the sale of the defendant’s property through an auction, in order to recover the money owed. The auction must be conducted in accordance with the rules and procedures set out in the relevant legislation.
Certificate for possession and use (section 33(5))After the auction, the successful bidder may apply for a certificate of possession and use of the property, as provided for in section 33(5) of the relevant legislation. This certificate allows the successful bidder to take possession of the property and use it for the purposes specified in the certificate.
Certificate of title (section 33(7))The successful bidder may also apply for a certificate of title to the property, as provided for in section 33(7) of the relevant legislation. This certificate confirms the successful bidder’s ownership of the property.
Appeal (section 41)Either party (plaintiff or defendant) may file an appeal against the court’s decision in the Artha Rin execution suit. The appeal must be filed within the time limit specified in the relevant legislation and must be based on grounds provided for in the legislation.
Revision (section 42)Either party may also apply for revision of the court’s decision, as provided for in section 42 of the relevant legislation. This may be done on the grounds of an error of law or fact, or if new and material evidence has come to light since the original decision was made.
Leave to Appeal (section 43)In order to file an appeal, the party seeking to appeal must first obtain leave (permission) from the court, as provided for in section 43 of the relevant legislation. The court will consider whether the appeal has a reasonable chance of success before granting leave to appeal.

Hire the best law firm in Bangladesh in Artha Rin Matters in Bangladesh:

The Artha Rin Adalat Ain, 2003 (Money Loan Court Act, 2003) is the primary legal instrument dealing with bank and non-bank financial institutions (NBFI) loan defaulters, outlining mechanisms for banks and financial institutions (FIs) to be reimbursed. The Act establishes a separate court to deal with money loan cases, which can only be filed by a bank or an NBFI.

In litigation, we have a strong, young, and energetic team. Furthermore, our Research Team is always available to assist them in preparing a strong claim with updated laws and case references. Our team can also provide an opinion on various issues and help with litigation. Our professionals always carefully nurture the suit and always try to ensure the rights of the sufferer, with some notable successes as follows.

Tahmidur Remura – A Full-Service Law Firm has a proven track record of assisting clients with Artha Rin Adalot Matters. We have an experienced team of lawyers who can assist you by representing you in ArthaRin Suits before the Joint District Judge Court and the High Court Division of the Supreme Court of Bangladesh.

If you require any assistance or consultation, please visit our office or contact us at +8801779127165 or +8801847220062 (WhatsApp) or by email- [email protected] 

E-mail: [email protected]
Phone: +8801847220062 or +8801779127165 or +8801708080817

Address: House 410, Road 29, Mohakhali DOHS, Dhaka 1206

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