MEMO FOR THE BOARD

MEMO # 2015 Date: October 29, 2015

Subject Request for approval for Write Off A/C. MAMUN PLASTIC
: INDUSTRIES and POINT VIEW.

With reference to the Office Circular No. 2007/1420 dated 08.04.2007 and as per
Bangladesh Bank FID Circular No. 03 Dated 15.03.2007 our SME Branch requested us
to approve the write off of default account Mamun Plastic Industries under Loan
Agreement No. PFIL/SME/STL-28/2008 Dated 21.07.2008 and Point View under Loan
Agreement No. PFIL/SME/STL-21/2008 Dated 10.02.2008 within October 2015.

Head office vide letter no. PFIL/HO/Sanction/Mamun Plastic/2008/2990 dated

06.07.2008 approved a Short Term Loan amounting to Tk.4,00,000.00 only in favor
of Mamun Plastic Industries, Head office vide letter no. PFIL/HO/Point View/
(SME)/2007/4884 dated 04.11.2007 approved a Short Term Loan amounting to
Tk.5,00,000.00 only in favor of Point View for working capital.

Among the above 02 (two) accounts Mamun Plastic Industries adjustments made
on 14.12.2009 by encashment of TDR and Point View was restructured by the
Management on 30.12.2008 by encashment of TDR kept as security with us.

Repayment behaviors of the borrowers are as follows:

A/C Name Agreement Loan Rental Teno No of Installment Outstandi Security
No Amount r collected ng as on (Existing
(Mo 25.10.15 )
n)
Collected Overdue
PFIL/SME/STL- (13.25 (10.75
Mamun
28/2008 Dt 4,00,000 20,000 24 nos.) nos.) 2,34,000 NA
Plastic Ind
21.07.2008 2,65,000 2,15,000
PFIL/SME/STL- (13.84 (16.16
Point View 21/2008 Dt 2,40,136 10,000 30 nos.) nos.) 1,61,608 NA
10.02.2008 1,38,392 1,61,608

Now, as per Bangladesh Bank FID Circular No. 03 Dated 15.03.2007 regarding
Write Off of any account can be done by fulfilling the following condition:
i) Any account which has been classified as BL and 100% provision has been
made can be considered for Write Off;
ii) Board of Directors prior approval should be taken before Write Off of any
account;
iii) All out effort should be taken to recover the written off of loan or lease. If
previously no legal procedure is taken against the account consider for
writing off then a case has to be filled in the court before write off any
account.
Consider the above points we have already taken the following steps:

i) The accounts have been classified as BL. Details are as follows:

Account Name Classified on Present Status Total Outstanding Provision Amount
Mamun Plastic Industries 31.12.2010 BL 2,34,000 2,34,000
Point View 30.09.2010 BL 1,61,608 1,61,608

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 ii) We have initiated CR case against all the above 02 (two) borrower. We got
verdict against Mamun Plastic Ind. and Point view in our favor. Details of
the case are as follows:

A/C Name Case number with Date Verdict

and suit value
Mamun Plastic Industries 2033/09, 29.10.2009
Suit Value Tk.4,00,000.00
Point View CR 1661/09,08.10.2009
Suit Value Tk.1.40 lac
GR 72/10/08 22.10.2008
Tk.4,00,000.00
Verdict in our favor on 24.09.2012 and
convicted for 06 months jail and fine of
Tk.4.00 only
Witness
Verdict in our favor on 16.02.2012 for total 3
years rigorous imprisonment plus fine of
Tk.3,000.00 only failing which 3 months jail.

In view of the above compelling situation, due to chronic default of the client to pay
the overdue/dues, least scope of amicable settlement of long outstanding and
overdue lease liability and recommendation of our SME Branch we recommend to
kindly Write Off the above mentioned outstanding amount of Mamun Plastic
Industries & Point View with our SME Branch, Dhaka.

Placed for kind approval of the Board of Directors.

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