Legal requirements for creating a Pari Passu charge between banks

Ramco Super Leathers Ltd. , rep. By its Director S. Alaniappan & Another VS The Dhanalakshmi Bank Ltd & Others - 17 Aug 09

India - Madras

The company availed loans from various banks and financial institutions and sought approval for the scheme without disclosing its ... a scheme of amalgamation. ... a scheme of amalgamation. ... the primary security by way of first charge over the factory land and building and the machinery and pari passu first charge over ... to failure of IDBI to retu....

Official Liquidator of Commercial Ahmedabad Mills Ltd. VS Manager, State Bank of India - 03 Mar 15

India - Gujarat

1956 - Sections 446 and 529A - Urban Land (Ceiling And Regulation) Act, 1976 - Sections 8, 9 and 10 - Official Liquidator praying for ... The Official Liquidator further seeks a declaration that the alleged continuation of proceedings under the Urban Land (Ceiling and ... a declaration that the alleged possession of the land of the Company in liquidation taken by the Government of Gujarat without obtaining ... the payment of the workers' du....

Australia & Newzealand Banking Group Ltd. VS Tulip Telecom Ltd. - 25 Apr 13

India - Delhi

The court allowed a nine-week period for TTL to make payment of the outstanding amount to ANZ, failing which the order appointing ... The court allowed a nine-week period for TTL to make payment of the outstanding amount to ANZ, failing which the order appointing ... of the Act and Rules, allowed a nine-week period for TTL to make payment of the outstanding amount to ANZ, and directed TT....

RELIGARE FINVEST LIMITED Vs LAKSHMI VILAS BANK LIMITED - 13 Feb 25

India - Delhi

suit, as they hold a first charge over the receivables and assets, including the Fixed Deposits. ... for liquidating Fixed Deposits amounting to ₹7914.47 crores without authorization, which prejudiced the interests of various banks ... (A) Code of Civil Procedure, 1908 - Order I Rule 10 - Impleadment of parties - Application for impleadment by State Bank of India ... To secure these faci....

Mr. T Vinayak Ravi Reddy vs State of Telangana - 22 Mar 24

India - Telangana

a company for dishonor of cheques - Petitioners contended that they were not personally liable as per the provisions of the IBC and ... (A) Negotiable Instruments Act, 1881 - Sections 138 and 141 - Criminal petitions filed to quash proceedings against directors of ... despite corporate insolvency proceedings - The moratorium under IBC does not extend to individuals, and the petitioners are liable for ... dated 18.06.2012 #....

KOTAK MAHINDRA BANK LTD. VS CHOPRA FABRICATORS AND MANUFACTURERS PVT. LTD. - 20 Aug 10

India - Allahabad

mortgage suit for recovery of its dues, as assignee of debts and NPAs—Banking business includes recovery of dues—Bank if permitted ... to recover its dues from mortgaged assets, right of bank for purpose of recovery of assignment or sale of such debts cannot be said ... Banking Regulation Act, 1949—Section 6(1)(a)—Transfer of Property Act, 1882—Section 130—Companies Act, 1956—Section 434(1)(a)—Securitisation ... ....

IDBI Trusteeship Services Limited VS Kiri Industries Limited - 20 Mar 13

India - Bombay

charge in favor of other banks and institutions, without the petitioner's consent. ... permanent until the disposal of the arbitration proceedings and for a period of four weeks thereafter. ... paripassu charge on the mortgaged premises over which the petitioner had the first charge. ... pari passu basis with the security created/to be created in favou....

Narendra Kumar Maheshwari VS Union Of India - 03 May 89

India - Supreme Court

grudge in respect of a competitive project by a competitor. ... in different Courts challenging the consent of Controller of Capital Issues granted for the issue of shares and debentures by the ... newly set up public limited company for purpose of carrying on business of manufacture of petrochemicals - These petitions were filed ... The company cannot normally create a general floating charge#H....

Narmada Bachao Andolan VS Union Of India - 18 Oct 00

India - Supreme Court

Such an Action Plan will fix a time frame so as to ensure relief and rehabilitation pari passu with the increase in the height of ... Further raising of the height will be only pari passu with the implementation of the relief and rehabilitation and on the clearance ... to meet all the requirements of the people. ... which is at a distance from the river banks#....

TAHSILDAR, KOLLAM VS NIZAMUDEEN S. - 06 Jan 23

India - Kerala

it clear that Bank is entitled only for a priority in payment alone, it can never be said to be a charge created over property against ... Act, 2003) to recover amounts due to Government - When steps were taken to register documents pertaining to properties sold by Banks ... charge created under various enactments vanishes. ... charge is in pari #HL_ST....

RASHTRIYA KISAN MAZDOOR SANGATHAN (REGD. ) VS STATE OF U. P. - 05 Sep 14

India - Allahabad

sugarcane dues of the farmers not paid even though the crushing season virtually at an end—Stock of sugar attached by the Collectors for ... opportunity to the mills to sell the sugar—Having considered the facts and circumstances, an outer limit of 31 October 2014, fixed for ... The submission of the banks is that Section 17(5) does not impede the owner of a sugar factory from creating a....

KOTAK MAHINDRA BANK LTD V/s SHREE NARMADA ALUMINIUM INDUSTRIES LTD - 10 Mar 25

India - Gujarat

1, 2.1, 2.2, 6.1, 6.28) ... ... (B) Assignment of Debt - The Supreme Court upheld assignment of debts between ... Both Sections 17 of Registration Act and Section 100 of the Transfer of Property Act make it mandatory for a document creating charge ... For the reasons set out above, it cannot be said that the Agreement purportedly creating the charge ....

Bihar State Ardh Sarkari Arajpati Karamchari Maha Sangh VS State of Bihar - 08 Feb 17

India - Patna

The employees had not been paid wages for years, and the issue was whether the State Government was liable to pay their salary and ... Whether the State Government was responsible for paying the salary and allowances of employees of State-owned Corporations. 2. ... Whether there was a final direction on the basis of interim orders passed in previous cases. 3. ... The salary of the workmen as secured creditors takes pari #H....

Vistra ITCL (India) Ltd VS Dinkar Venkatasubramanian - 04 May 23

India - Supreme Court

as a financial creditor or an operational creditor. ... Section 3(31), Section 5(7), Section 5(8), Section 30(2), Section 52, Section 53 - The court examined the status of the appellant as a ... Issues: Classification of the appellant as a secured creditor, treatment in insolvency proceedings. ... The debts owed to the secured creditor in such event, rank pari passu with the workmen’s dues for#....

THE TAHSILDAR vs RENEE JOSHUA - 06 Jan 23

India - Kerala

for tax dues. ... The court examined the priority of claims between secured creditors and state revenue authorities regarding taxes and dues. ... Fact of the Case: The State and its officials challenged a judgment favoring financial institutions concerning the ... charge is in pari passu with that of the secured creditor; such statutory charge is to the extent of wor....

THE TAHSILDAR (RR) vs NIZAMUDEEN.S. - 06 Jan 23

India - Kerala

The secured creditors contested the state's assertion that it held a first charge on properties for unpaid taxes under state laws ... Fact of the Case: The State and its officials challenged a judgment favoring financial institutions regarding their ... General Sales Tax Act, 1963, Section 26B; Kerala Value Added Tax Act, 2003, Section 38 - The court upheld that secured creditors have a ... ch....

THE DISTRICT REGISTRAR GENERAL vs FARZANA KHATOON @ FARZANA PARVEZ - 06 Jan 23

India - Kerala

The provisions creating a priority for secured creditors do not eliminate existing statutory charges. ... over properties for tax debts. ... Fact of the Case: The State and its officials appealed against a judgment that recognized the priority of secured creditors ... charge is in pari passu with that of the secured creditor; such statutory #HL_STAR....

STATE OF KERALA vs BANK OF BARODA - 06 Jan 23

India - Kerala

The appeals arose from enforcement actions taken against properties mortgaged to banks by dealers who owed taxes, with conflicting ... Fact of the Case: Writ appeals were filed by the State challenging a judgment that affirmed secured creditors' priority ... state's claims, particularly regarding the validity and enforcement of statutory charges created under state tax laws prior to a ... charge is in pari#HL_....

THE STATE OF KERALA vs PHOENIX ARC PRIVATE LIMITED - 06 Jan 23

India - Kerala

Finding of the Court: The court found that provisions in the SARFAESI Act create a priority for secured creditors in ... statutory first charge established under state laws regarding tax dues and property recovery. ... payment over other debts but acknowledged that statutory first charges under state laws persist even if properties are sold by banks ... charge is in pari pas....

STATE OF KERALA REPRESENTED BY THE PRINCIPAL SECRETARY TO GOVERNMENT vs LAIJA NAVABUDEEN - 06 Jan 23

India - Kerala

Finding of the Court: The court confirmed that despite state legislations creating a first charge, secured creditors ... under SARFAESI and RDB Acts hold priority for debt recovery. ... Final Decision: The writ appeals were allowed, affirming that statutory charges remain intact despite property sales by banks ... charge is in pari passu with that ....

Searched Results

Ramco Super Leathers Ltd. , rep. By its Director S. Alaniappan & Another VS The Dhanalakshmi Bank Ltd & Others - 17 Aug 09

Official Liquidator of Commercial Ahmedabad Mills Ltd. VS Manager, State Bank of India - 03 Mar 15

Australia & Newzealand Banking Group Ltd. VS Tulip Telecom Ltd. - 25 Apr 13

RELIGARE FINVEST LIMITED Vs LAKSHMI VILAS BANK LIMITED - 13 Feb 25

Mr. T Vinayak Ravi Reddy vs State of Telangana - 22 Mar 24

KOTAK MAHINDRA BANK LTD. VS CHOPRA FABRICATORS AND MANUFACTURERS PVT. LTD. - 20 Aug 10

IDBI Trusteeship Services Limited VS Kiri Industries Limited - 20 Mar 13

Narendra Kumar Maheshwari VS Union Of India - 03 May 89

Narmada Bachao Andolan VS Union Of India - 18 Oct 00

TAHSILDAR, KOLLAM VS NIZAMUDEEN S. - 06 Jan 23

RASHTRIYA KISAN MAZDOOR SANGATHAN (REGD. ) VS STATE OF U. P. - 05 Sep 14

KOTAK MAHINDRA BANK LTD V/s SHREE NARMADA ALUMINIUM INDUSTRIES LTD - 10 Mar 25

Bihar State Ardh Sarkari Arajpati Karamchari Maha Sangh VS State of Bihar - 08 Feb 17

Vistra ITCL (India) Ltd VS Dinkar Venkatasubramanian - 04 May 23

THE TAHSILDAR vs RENEE JOSHUA - 06 Jan 23

THE TAHSILDAR (RR) vs NIZAMUDEEN.S. - 06 Jan 23

THE DISTRICT REGISTRAR GENERAL vs FARZANA KHATOON @ FARZANA PARVEZ - 06 Jan 23

STATE OF KERALA vs BANK OF BARODA - 06 Jan 23

THE STATE OF KERALA vs PHOENIX ARC PRIVATE LIMITED - 06 Jan 23

STATE OF KERALA REPRESENTED BY THE PRINCIPAL SECRETARY TO GOVERNMENT vs LAIJA NAVABUDEEN - 06 Jan 23