BASIC Bank wins decade-long legal battle, gets possession of Head Office Building
BASIC Bank PLC. A 100% state-owned commercial bank, has taken possession of a building in Motijheel, purchased for its head office, following more than a decade of legal proceedings. The possession was handed over to the bank on Tuesday morning after the completion of an eviction drive carried out in accordance with the court's final judgment and subsequent orders, with assistance from law enforcement agencies. Representatives of the Dhaka Metropolitan Commercial Court-2 were present during the operation and formally handed over the premises to the bank authorities.
During handover Abu Md. Mofazzal, Managing Director (Current Charge), Subhash Chandra Das, FCA, FCMA, Deputy Managing Director, along with Md. Ismail, Md. Momenul Hoque, Md. Nashir Uddin, Sumit Ranjan Nath, Md. Ghulam Sayeed Khan, and Saidur Rahman Sohel, General Managers, Golam Kabir, Deputy General Manager and Pritish Kanti Mallick, Assistant General Manager of the Legal Division, and other officials and employees of the bank's head office were present.
Speaking after the handover of possession, BASIC Bank's Acting Managing Director said that, after a prolonged legal battle, the bank had finally taken possession of the building purchased for its head office in its present condition, in accordance with the court's order. We sincerely express our gratitude to the Honourable court for ensuring the handover of the building to the bank in accordance with the court's order, he said. He said the bank would take prompt steps to complete the unfinished construction work and make the necessary arrangements to relocate its head office to the building. The move is also expected to generate significant cost savings for the bank.
In 2010, BASIC Bank signed an agreement with Business Resources Limited, a developer owned by landowner Sinku Akramuzzaman, for the construction and purchase of a building in Motijheel to accommodate the bank's head office.
Under the agreement, the company was required to complete construction and hand over the building, in a condition fit for use, along with the ownership documents by September 2013. The bank was allocated a total floor space of 51,500 square feet, covering the ground floor through the 12th floor. However, the building was not handed over within the stipulated timeframe, prompting the bank to seek legal recourse to protect its interests and property rights. Following long judicial proceedings, the court delivered its final judgment and orders in favour of the bank.
In connection with BASIC Bank's Title Execution Case No. 69/2026, an order directing the handover of possession of the building to the bank was issued on November 9, 2026, by the Judge of the Dhaka Metropolitan Commercial Court-2. Acting in accordance with the order, the bank formally took possession of the building through court representatives on Tuesday, following due legal procedures.
The bank considers the recovery of the building a significant milestone towards safeguarding its assets and protecting its institutional interests. The resolution of the long-standing legal dispute is also expected to pave the way for the proper utilization of the bank's own property and improve its asset management.
As a state-owned financial institution, BASIC Bank PLC. remains committed to protecting depositors' interests, preserving institutional assets and maintaining financial discipline. The bank will continue to take necessary measures to ensure the proper management and effective use of its assets in the public interest.