said Working Capital
Consortium Agreement covenants the creation of first pari passu
charge on the assets of the respondent No.1-Company, which are
further ... machinery in question, as a security
on pari passu basis.
b) The said hypothecation charge in favour of the banks had been
registered with
complete the above exercise, we shall be required to provide pari-passu charge on Gajroula Unit to our banker's enabling them to issue ... bank guarantee. The pari-passu charge is likely be required for about 120 days during which time we expect to receive the ECB remittance
Bank) and Indian Bank which were secured by way of pari-passu
Hypothecation Charge over the current assets/moveable properties of the
Company, and personal ... Arrangement which were secured by way of pari-passu hypothecation
charge over the current assets/moveable properties of the Company,
personal Guarantees of Shri Nitin
every secured creditor shall be deemed
to be subject to a pari passu charge in favour of the workmen. Section
529A ... secured creditor, to the extent that such debts rank pari
passu with the workmen's dues by virtue of proviso to Clause
time of said repayment, the
respondent Nos. 1 and 2 had pari passu charge with the bank over some
of the hypothecated and other secured ... Naresh Chand Jain wrote back stating that the machinery was under
pari passu charge of Canara Bank and a stay order was passed
movable and
immovable assets of the appellant company have been charged to the
lender banks in terms of the Common Loan Agreement dated
Page ... Single Judge
vide affidavit dtd.19.04.2018 besides envisaging the pari passu charge
on all present and future assets of the appellant company; that
credit facilities, which were renewed from time to
time, with a pari passu charge being created over plaintiff's land, building
and other securities ... consortium of banks,
which had sanctioned credit facilities and created a pari passu charge over
plaintiff's factory and assets, would not ipso facto
were already encumbered with banks, the
details of their charges and pari passu charge
over the said fixed assets of respondent No.4.
Merely stating
distributed to the three secured creditors ratably or pari passu in the facts and circumstances. Pari passu is defined in Black's Law Dictionary ... sale proceed among its creditors, therefore on the basis of pari passu charge on the assets of the company, IFCI is only having 64.38 percentage
Overseas Bank as according to the defendants, the defendants had
created pari passu charge in respect of the movable and
immovable assets in favour
