Pari passu - Indian Laws - General

Word pari passu In J owitt s Dictionary of English Law , Volume II, 1959 Edition page 1294 as: With equal step, equally, without preferance . In Black s Law Dictionary , 6th Edition, page 1115 as, By an equal progress. .... Used especially of creditors who, in marshalling assets, are entitled to receive out of the same fund without any precedence over each other . Prem s Judicial Dictionary , Volume III, 1964 Edition, page 1217 also defines pari passu as : With equal steps, that is to say, proceeding side by side at the same piace . MAHARASHTRA STATE FINANCIAL VERSUS BALLARPUR INDUSTRIES LIMITED - 1993 (7) TMI 356 - BOMBAY HIGH COURT