subjecting the security of the secured creditor to pari passu charge for workmen's dues and empowering the liquidator to join the secured creditor ... capacities in such a situation (1) as a representative of the pari passu charge holders; and (2) as an officer of the court
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 ... legal fiction, to make the security of every creditor subject to pari passu charge for the workmen's dues owed by the company under
makes the security of every secured creditor subject to a pari passu charge in favour of the workmen to the extent of the workmen ... shall rank pari passu with the workmen's dues and, therefore, whenever there is a pari passu charge over any property of a company
with a default clause attracting penal interest at 2.5 per cent. Pari Passu charge holder having felt the offer of respondent ... winding up, then, the Official Liquidator would be equally concerned as pari passu charge holder of the workmen's dues by virtue
under the proposed scheme the objector-bank will be getting first pari passu charge on fixed assets and a second pari passu charge ... total amount of Rs. 555.00 lakhs and the first pari passu charge on the current assets and a second pari passu charge on fixed assets
that OL is joint
owner of property and he has a pari-passu charge over the
property by virtue of Section 529A of the Companies ... been associated with and it is for this precise reason, a pari-
passu charge is created over the property of the company (in
liquidation
Respondent No.7 was
secured by way of a pari passu charge and though a
request had been made by the Petitioner to all three ... such moratorium more
so when all three of them enjoyed a pari-passu charge on
all the assets including the cash flow of the Petitioner
Supreme Court in International
Coach Builders considered the rights of the pari passu charge-
holders which run equally, temporarily and potentially, with the
rights ... consent of the official
liquidator representing the workmen for the pari passu charge in
their favour under the proviso to Section
done either by satisfaction of the
pari oassu charge or by a suit in which the pari
passu charge holder wouid be a party defendant ... amendments made to the Companies Act
have introduced a pari passu charge holder ~
helmsman of the ship of the SFC, ..i--..w'ho cana
themselves but also on behalf of other secured creditors holding pari passu charge along with KSIIDC.
5. Even with regard to this, the court passed ... shared pari passu as against the claims of the workmen in terms of the proviso. Therefore, the pari passu charge which they had in respect
