since the secured assets are charged by the respondents-banks on 'paripassu' basis, under the consortium arrangement.
11. In the above circumstances
company (both existing and future assets.)
Plant and Machinery etc.
Paripassu first charge on the entire current assets of the 1st defendant company along with ... State Bank of India (existing and future assets).
Second Paripassu charge in the entire block assets of the company along with State Bank of India
Bank for proportionate distribution amongst them with reference to the outstanding on paripassu basis and to draw a certificate.
(n). On failure