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7. The counter filed by the respondents reveals that the petitioner had created first paripassu charge by way of hypothecation of entire current assets of the Company, namely raw materials, stocks in process, finished goods, spares, consumables and stores and receivable etc., for the working ___________ https://www.mhc.tn.gov.in/judis capital facilities extended by the respondents 1 to 7. But, whereas, in the JLM meeting on 10.03.2015, the petitioner had admitted that there are no stocks available at the factory premises. It is pertinent to mention that the petitioner had created first paripassu charge on the block assets of the company, namely Plot Nos.38 to 40 44 & 46, SIDCO Industrial Estate, Irungattukottai, Sriperumbadur Taluk and the realizable value of the aforesaid properties are too low as compared to the huge outstanding loan amount payable to the respondents 1 to 7.