Securities And Exchange Board Of India - Subsection
Section 20(iii) in Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018
(iii)For such part of the escrow account as is in the form of a cash deposit with a scheduled commercial bank, the company shall while opening the account, empower the merchant banker to instruct the bank to make payment of the amounts lying to the credit of the escrow account, to meet the obligations arising out of the buyback.
