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Showing contexts for: paripassu in Farooq Ali Khan vs Bank Of Baroda on 28 May, 2024Matching Fragments
Here again, it is Directors and guarantors have given unconditional acceptance. The name of the petitioner does not figure as he has been waived of all the personal guarantees earlier. On 10-12-2018 a communication is made by the Bank of Baroda to the Interim Resolution Professional/Resolution Professional. The Bank of Baroda in the column collateral security mentions as follows:
"Collateral Security:
• Term loan limits are secured by Paripassu second charge on the current assets and the working capital limits by Paripassu second charge on the Fixed Assets of the Company.