I have two questions with respect to the liquidation of the issuer. In the event of a liquidation, who gets the preference? Is it the foreign lender of dollar denominated debt or the domestic lender of rupee denominated debt? Secondly, if both the foreign lender and domestic lender have first rank pari passu charge on the security (immovable or movable asset), then who gets the preference – domestic lender or foreign lender?
Reload document
Open in new tab 
I have two questions with respect to the liquidation of the issuer. In the event of a liquidation, who gets the preference? Is it the foreign lender of dollar denominated debt or the domestic lender of rupee denominated debt? Secondly, if both the foreign lender and domestic lender have first rank pari passu charge on the security (immovable or movable asset), then who gets the preference – domestic lender or foreign lender?