notice reads thus:
"we refer to the pari passu deed. Words defined in the pari
passu deed shall have the same meanings when used ... Lender A Loan Agreements and
the Lender B Loan Agreement, and "Loan Agreement" means
any of them.
"Pari Passu" means
pari passu or
proportionate basis as per the clause of the Pari Passu Deed.
5. On the basis of the said agreement, the present suit ... reads as under :
"we refer to the pari passu deed. Words defined in the pari
passu deed shall have the same meanings when used
rank pari passu with the charges created by
the Borrower in favour of the financial institutions.
11.3 The Board shall have the pari passu charge ... Loan Agreement clearly obligated the respondent to give its no
objection as also execute all necessary documents for creation of such
pari passu charge
respondent I are mortgaged to the IFCI and the Bank on pari passu basis. The said Bank has been imp leaded in the petition ... security for the said loan of Rupees 15,00,000/-, rank pari passu with the mortgages and charges created in favor of petitioner
lenders involved. ICICI bank is an equal partner on pari passu
basis with the plaintiff in the second term loan consortium. Mr.
Chandhiok submits that ... each to the extent mentioned below :
2.2 DEBENTURE SHALL RANK PARI PASSU :
The Company shall ensure that the Debentures
shall rank pari passu inter
transferring its assets or properties or encumbering them in any manner.
The agreement to sell dated 10.12.1997 which is of after the date ... assets to be distributed amongst the
creditors and workmen pari passu. The second agreement to sell dated
Co.A.(SB) No.39/2009 Page
borrower and
Guarantee Agreement was executed by Respondent No.2. In this loan
account, one property on pari passu basis was also mortgaged by
Respondent ... borrower and guarantee agreement was executed by
Respondent No.2 along with one property being mortgaged on pari passu
basis with a realizable value
Agreement, the Senior Lenders were not required
to enforce or exhaust other remedy(ies) available to them before
invoking the provision of the Substitution Agreement ... Article 3.1 of the Loan Agreement, dues towards Senior Lenders were
secured by a pari-passu charge over all Toll receivables.
24. This
SBBJ, RFC &
RIICO on pari passu basis in accordance with rules and as per their
respective agreements. Thus, the DRT-I did not accept ... Official Liquidator amongst the proforma
defendants and applicant financial institution on pari passu
basis in accordance with rules.‖
11. Pursuant to the Recovery Certificate issued
SBBJ, RFC &
RIICO on pari passu basis in accordance with rules and as per their
respective agreements. Thus, the DRT-I did not accept ... Official Liquidator amongst the proforma
defendants and applicant financial institution on pari passu
basis in accordance with rules.‖
11. Pursuant to the Recovery Certificate issued
