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In an NLU, there's not much expenditure apart from infra (that too, only if you're looking to expand). In that context, it's actually baffling that they're asking for 15-20L in the first place. The reason fees are so high is probably just that students are willing to pay that much (if you're cracked an entrance exam heavily reliant on English, chances are you're from a decent family background).
Sure, it may be argued that law firms give decent packages and you're getting the money back in return (the IIM argument), but this is just assuming that people prefer taking a corp job. Having high fees discourages folks from pursuing academia or litigation (unless you come from a good background).