Legal Question in Banking Law in India
what is the meaning of pari passu charge and second charge
Asked on 9/02/10, 9:59 am
2 Answers from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Pari Pasu charge is SIMULTANEOUS CHARGE in favour of more than one lender; and second charge is subordinate to the first charge in favour of the previous lender.
Answered on 9/02/10, 8:42 pm
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