charge is deemed to be created in favour of the workmen for the recovery of their dues which charge runs pari passu with the charge ... right of a pari passu chargeholder. Such a right can be exercised with the consent of the pari passu chargeholder or on orders
rights of a pari passu chargeholder? Can a mortgagee exercise his power of sale without the consent of a pari passu charge-holder ... right of a pari passu chargeholder. Such a right can be exercised with the consent of the pari passu chargeholder or on orders
every secured creditor shall be deemed to be subject to a pari passu charge in favour of the workman to the extent of the workmen ... creditors no longer have absolute right to the security but a pari passu charge has been created in favour of the workers. The effect
claims lodged before the Official Liquidator
and hence there is no pari passu charge in respect of the assets of the MSIL mentioned ... enforcing the charge by selling the security against which such
charge is created. Nonetheless, it creates a 'pari passu' charge in favour
lenders. It is submitted that the
Petitioner as a first pari passu charge holder can continue to hold its security
in the current assets ... charge is held by the
Petitioner along with other secured lenders, but the latter acknowledge the
Petitioner's charge as the first pari passu
first charge over several other assets of the company on the footing that the said first charge shall rank pari passu in favour ... creditors, etc. The workmen of the company are entitled to a pari passu charge over the assets of the company along with all its secured
liquidator is the representative of the workmen
entitled to enforce such pari passu charge. He would be in
the position of a co-mortgagee ... exercised in tandem with the rights
of the pari passu charge in favour of the workmen created by
the proviso to Section
Wanbury Limited and holders of the OFCDs shall be given a pari passu charge on the assets of PPIL that may be acquired by Wanbury ... petitioner company with others on pari passu basis had agreed to create the security by a pari passu charge on the immovable properties alongwith other
liquidator is the representative of the workmen entitled to enforce such pari passu charge. He would be in the position of a co-mortgagee ... exercised in tandem with the rights of the pari passu charge in favour of the workmen created by the proviso to Section
every secured
creditor shall be deemed to be subject to a pari
passu charge in favour of the workmen to the extent
of the workmen ... charge is created in favour of workmen in respect of
their dues over the security of every secured
creditor and this charge is pari passu
