Despite 36 years of possession, Jiban Bima Corporation (JBC) has yet to secure legal ownership of its 11-storey building and plot at 80 Motijheel, the commercial hub of Dhaka. The property, formerly the headquarters of Prudential Assurance Company, was transferred to JBC in 1989 through a power of attorney. Yet, the Dhaka Deputy Commissioner (DC) office asserts the land remains government property.
The building, commonly known as Prudential House, is currently valued at approximately BDT 80 crore by several architects. A prolonged dispute has persisted between government institutions over its ownership.
Historical Context
Prudential Assurance established its Dhaka office in 1969, purchasing plot 80 Motijheel. After Bangladesh’s independence in 1971, JBC managed Prudential’s local operations. In 1989, Prudential formally transferred its entire Bangladeshi business to JBC, with director Brian Medhurst and company secretary Peter Robert Rawson supervising the process. The power of attorney was executed on 5 June 1989 and made effective retroactively from 1 January 1989.
At the time, Prudential held 638 insurance policies, including 100 premium-paying, 270 paid-up, and 268 under automatic premium loan arrangements. The company’s net liability at the end of 1987 was BDT 64 lakh, with assets including government bonds, debentures, and shares in Platinum Jubilee Jute Mills.
| Item | Amount (BDT) | Details |
|---|---|---|
| 1987 Net Liabilities | 6,400,000 | Prudential’s obligations |
| 1988 Premium Income (Jan–Aug) | 90,000 | Total revenue ~7,30,000 BDT |
| Debenture in House Building Corporation | 1,83,20,000 | 5.5% interest |
| Government Bonds (1973–79) | 35,00,000 | East Pakistan Government Loans |
| Platinum Jubilee Jute Mills Shares | 2,08,330 | 20,833 shares at 10 BDT each |
| 1988 Land & Building Valuation | 1,20,00,000 | 11-storey building, 4,000 sq ft per floor |
Ownership Conflict
On 31 October 2022, JBC applied to the DC office to register the property in its name. Nearly a year later, on 16 October 2023, the office rejected the application. The DC office cited Revisional Survey and City Survey records—Khatian No. 1, Plots 1573 and 1425—listing the land as government-owned.
JBC asserts it has occupied the property for over 30 years and has consistently paid land taxes, including land development taxes up to FY 2023–24, claiming it is the lawful successor of Prudential.
The dispute is compounded by the fact that the London-executed power of attorney was never ratified by Bangladesh’s Ministry of Foreign Affairs, raising questions over its legal validity. The DC office maintains that possession and tax payments alone cannot override official government records.
Legal Implications
Legal experts describe the case as a “government versus government” dispute, likely requiring judicial resolution. Analysts note that its outcome could influence public property management, land record integrity, and institutional accountability.
Dhaka’s Additional Deputy Commissioner (Revenue), Md. Abdur Rafiqul Alam, stated: “The land belongs to the party listed in official records. As it falls under Khatian No. 1, it is government khash land. JBC must pursue legal remedy through the courts.”