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sale proceeds be distributed between the secured creditors and workers on paripassu basis for which Kamdar Ladat Samiti shall not have any objection

respondent No.5 is a formal party, as there is a “Paripassu Arrangement” between the petitioner and the fifth respondent. The fifth respondent is also ... concerned, they are only a formal party, as there is a “Paripassu Arrangement” between them and the petitioner with regard to the loan availed

Property Act. The borrower company, guarantors and corporate guarantors had created paripassu charge on entire current assets including stocks, stocks in trade, receivables, consumable stores

financiers either under sub-section (4) of Section 29 nor under the paripassu agreement." 16. Accordingly, it is contended that OSFC "is liable

Bank for proportionate distribution amongst them with reference to the outstanding on paripassu basis and to draw a certificate. (n). On failure

application it is stated that, the KSFC having taken into account the paripassu arrangement with KSSIDC and payments made to KIADB and KEB, worked

counter filed by the respondents reveals that the petitioner had created first paripassu charge by way of hypothecation of entire current assets of the Company ... premises. It is pertinent to mention that the petitioner had created first paripassu charge on the block assets of the company, namely Plot

third respondents for recovery of Rs.52,64,31,000/- claiming paripassu charge over certain assets of the second and third respondents. It is stated ... that all the three creditors claimed paripassu charge over the same securities. Since 1999, the O.As before the respective DRTs are pending. Documents relating

Joint Electricity Regulatory Commission for the State of Goa and Union Territories (Connectivity and Open

given in Annexure-IV and it is noticed that 16 creditors have paripassu first charge on movables/immovable assets. The Annexure-V is the table