charge on immovable property
This query is : Resolved
CA SANJAY MUKHERJEE
(Expert)
09 October 2009
Pari Passu is a term used in banking transactions which means that the charge to be created is in continuation of an earlier charge which might be held by the same institution or by an other institution.
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Ratan Sharma
(Expert)
10 October 2009
agree with expert. Its parellel charge.
Guest
Guest
(Expert)
10 October 2009
pari passu charge means that first charge holder and second charge holder has equal right on the property of Creator of charge.
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