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2016 (5) TMI 1233 - HC - Indian LawsCalculation of arrears to the bank - SARFAESI Act - Held that:- We vacate the direction that no other expenses like legal expenses, publication of notice in the newspaper will be added in calculating the arrears. In other words, it will be open to the Bank to include all the expenses, which it actually incurred as per law. The first installment is to be paid by the writ petitioners/respondents on or before 20.03.2016 in a sum of ₹ 25 Lakhs. We record the undertaking of the writ petitioners/respondents that they will not transfer the property consisting of plant, machinery and the building to anyone nor will they create any third party interest till the entire amount due to the appellants is cleared off. In case of default, we further direct that it will be open to the Bank to take possession as provided in law. The judgment of the learned Single Judge stands modified as above
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