Ceding pari passu charge means
6 Replies
Hemraj Sethia
(CA)
(38 Points)
Replied 05 November 2008
Dhananjay Deepak
(Articleship)
(152 Points)
Replied 05 November 2008
was going through parri passu only just 2 mins back and saw ur post!!!!!
CA. Dashrath Maheshwari
(TaXpert)
(15103 Points)
Replied 05 November 2008
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.
Mean At an equal pace; side by side:
**DM
CRaZy aCCouNTaNTS...
CA. Dashrath Maheshwari
(TaXpert)
(15103 Points)
Replied 05 November 2008
The term is Latin and translates to "without partiality." For example, a secondary issue of shares that carry equal rights with existing shares are said to "rank pari passu."
**DM
CRaZy aCCouNTaNTS...
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