2016 (5) TMI 1233

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....MENT K. M. Jospeh, CJ. Appellants are 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 t....

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....cted that the bank will immediately remove its possession over the factory 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 lib....

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....vided against the contingency of the respondents/writ petitioners dealing with the property 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 ....