SEBI Acts, and financial acts in India use latin freely, like Pari Passu which means at the same time", and by extension also "fairly", "without partiality". This term is also often used in bankruptcy proceedings where creditors are said to be paid 'pari passu', or each creditor is paid pro rata in accordance with the amount of his claim. Here its meaning is 'equally and without preference'.

The law drafters can very easily say without preference instead of Pari Passu. Why do they have to complicate? Is it to show off intellectual superiority, or make the law dependent on lawyers?