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TMI Blog2016 (5) TMI 1233X X X X Extracts X X X X X X X X Extracts X X X X ..... e the respondents in the writ petition. Proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "SARFAESI Act") were taken against the writ petitioners, who are the respondents in the appeal. The writ petition was lodged against the same. The learned Single Judge granted relief to the writ petitioners/respondents noting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tory in question and the petitioner shall be permitted to run the same in order to yield some manufacturing there. By all concern, no impediment will be caused in his working in any manner whatsoever. iv) If the petitioner makes any default in making compliance of either of these conditions, then the bank will be at liberty to bring all these facts to the notice of the local District Judge, Paur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y to the prejudice of the appellants, as the possession has already been taken by the Bank. Next, he would submit that a substantial amount must be directed to be paid initially and, regarding taking of possession, it may be directed that possession can be taken as per law in case of breach of the conditions by the writ petitioners. 5. Learned counsel for the writ petitioners/ respondents would s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allment is to be paid by the writ petitioners/respondents on or before 20.03.2016 in a sum of Rs. 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 f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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