Creation of security: issuers must disclose that charged assets are unencumbered or consent exists for pari passu charges. Regulation 21B requires the issuer to undertake in the Information Memorandum that assets on which a charge is created are free from encumbrances, or where assets are already charged the issuer has obtained the earlier creditor's permission or consent to create a pari passu or subsequent charge.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Creation of security: issuers must disclose that charged assets are unencumbered or consent exists for pari passu charges.
Regulation 21B requires the issuer to undertake in the Information Memorandum that assets on which a charge is created are free from encumbrances, or where assets are already charged the issuer has obtained the earlier creditor's permission or consent to create a pari passu or subsequent charge.
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