secured by:
1.Second pari-passu charge on all current
assets of the Borrower.
2.Second pari-passu charge on all current
assets of Gondwana ... There is Second pari-
passu charge on all current assets of the GEL as per
Schedule IV.
17. The Pledge Agreement dated 10.01.2012 was entered
Total 2100
2.2 DEBENTURE SHALL RANK PARI PASSU :
The Company shall ensure that the Debentures shall rank pari passu inter se to all intents ... their right being pari passu with other debenture holders, they cannot claim a preferential right. If clause 7.5 of the agreement is read
Total
2100
2.2 DEBENTURE SHALL RANK PARI PASSU :
The Company shall ensure that the Debentures shall rank
pari passu inter se to all intents ... their right being pari passu with other debenture holders, they cannot claim a
preferential right. If clause 7.5 of the agreement is read
contrary to and
in breach of the right of distribution pari passu of the
joint body of unsecured creditors. The Appeal Court had,
therefore correctly ... lacs of Rs. 100
each to these creditors ranking pari passu.
Category 2: Creditors were the Bombay Municipal
Corporation, the Collector of Sales
ranking mortgage and pari passu charge/issuing of all the moveable
properties of the borrower. Further a first ranking pari passu charge ... accordance with the Hedging Plan, the Hedge provides shall rank pari passu
inter-se and with the Secured Parties and without any preference or
priority
operational creditor, the NCLAT erred in relying upon the
Tripartite Agreement and the Spectrum Trading Guidelines, 2015 to
accord preferential treatment to DoT. This results ... elevation of one
operational creditor over others, contrary to the pari passu treatment
mandated by Sections 30 and 53 of the Code.
11.3 Telecom licences
Page 19 of 44
Plan based on the pari passu distribution to the Financial
Creditors, which extinguished its security. In fact ... does hereby hypothecate
as he by way of a first ranking pari
passu charge to the Security Trustee,
acting in trust
first proviso to Section 19(1)
of the DRT Act. The agreement between the secured creditors in such cases
is required to be placed before ... hands of the bank/FI. Section 13(9) also deals with pari passu charge of the
workers under Section 529-A of the Companies
that as a result of the amendment to Section
529 a pari passu charge to the extent of the workmen's portion is created ... conjunction with the special rights given to the workmen, who as pari passu
charge-holders are represented by the official liquidator. We are,
therefore
amendment, the dues of the workmen were not treated pari passu with the
secured creditors as a result whereof innumerable instances came to the
notice ... only with a view to bring the
workman's dues pari passu with the secured creditors, Section 529-A was
enacted.
The non-obstante
