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charge on immovable property

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adhaar (Querist)
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09 October 2009 what is pari passu charge

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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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

Ratan Sharma (Expert)
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10 October 2009 agree with expert. Its parellel charge.

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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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