Legal Question in Business Law in India
what is consortium charge mean and what is the difference between consortium charge and pari-passsu charge
Asked on 7/16/10, 11:14 pm
1 Answer from Attorneys
Shaji Natarajan
Salam Advocates & Legal Consultants
Consortium Charge usually relates to the Charge created in favour of a Consortium of Lenders/ Bankers. Pari passu Charge is the extent of Charge over the Common Security, available to each individual Lender among the Consortium Lenders, according to the ratio of the Credit facility provided by each of them.
Trust this clarifies the Query.
Best Regards,
Shaji.K.N
Answered on 7/23/10, 2:35 am
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