given any preferential charge on the estate and cnstitutes a debt payable paripassu with the demands of other creditors and even in a situation where
Assessee again tried to argue that only a distribution paripassu (in equal
proportion) amongst shareholders can be considered as 'distribution' for the purposes
hotel project against mortgage of entire leasehold land purchased from
WBHIDCO and paripassu charge on all present and future moveable fixed & current assets
infusion of equity and debt has to be more or less on paripassu basis
as per normative debt equity ratio. However, increase
In Re: U.P. State Cement Corporation ... vs Unknown on 27 April, 2007
Author: Sunil
since the secured assets are charged by the respondents-banks on 'paripassu' basis, under the consortium arrangement.
11. In the above circumstances
M/S Vatika One India Next Private ... vs Indiabulls Commercial Credit Limited on 19 December
mentions as follows:
"Collateral Security:
• Term loan limits are secured by Paripassu second
charge on the current assets and the working capital
limits ... Paripassu second charge on the Fixed Assets
of the Company.
• Pledge of 50% of the Promoters share holding in the
Company.
• DSRA account of ensuing
India Private Limited. The said cash credit facilities were secured by Paripassu charge on Book debts/current assets amounting to Rs.528.16 Crores, pledge
India Private Limited. The said cash credit facilities were secured by Paripassu charge on Book debts/current assets amounting to Rs.528.16 Crores, pledge
