Legal Question in Banking Law in India

Re: banking

"Pari Pasu" means all are equal

First pari passu charge means a class a group of people who are treated at par among themselves, i.e. with no preference or priority among themselves.

Re: banking

"Pari Pasu" means all are equal and there is no preference what so ever between the two.

In banking while distruting the assets of debtors to satisfy the claim of creditor the word pari passu is offen used to suggest that all creditors are equal and no creditor has preference over other creditor for realization of his cliam.

First pari passu charge means a class of different people who are treated equal amount them self, i.e. with no preference or priority inter se