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2009 (12) TMI 528 - HC - Companies LawQuantum of securitisation expenses which the financial institutions are entitled to recover from the borrowers in terms of the provisions contained in the Act. Held that:- The claim of the respondent-bank that a sum of ₹ 1,90,000 as payable to Sisir & Associates, chartered accountants and Enforcement agents, Visakhapatnam as exorbitant and unreasonable. This is the reason, why we directed a sum of ₹ 15,000 to be paid by the writ petitioner towards the proper expenses in this regard, apart from what has already been found booked to his account, as noticed supra. That is the reason why, apart from the balance outstanding of ₹ 1,96,000 the writ petitioner has paid a sum of ₹ 2,11,000 to the respondent-bank. We, therefore, hold that the respondent-bank is not justified in proposing to charge the writ petitioner a further sum of ₹ 1,90,000 in terms of subsection (7) of section 13. We hope and trust that the respondent-bank, would focus its attention to what has been pointed out by us and take appropriate measures for remedying the situation, if necessary, in consultation with the Reserve Bank of India. Since the writ petitioner has liquidated the entire liability, we allow this writ petition and direct the respondent-bank to treat the writ petitioner to have been freed from all further obligations
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