Section 43A(2). Opening and maintaining of an
Escrow Account or an Escrow Agreement are not the statutory requirements
and, therefore, merely because PPAs contemplate ... execution of an
Escrow Agreement and opening of an Escrow Account Execution of the Escrow
Agreement and opening of an Escrow Account are thus contigent
part of
the Concession Agreement, the Financing Agreements have been
specifically made part of the Concession Agreements and the
Financing Agreements specifically refers to Total ... contended that the Concession Agreement in its definition of
Project Agreements make the Financing Agreements as part of the
Project Agreements.
81. There is admittedly
number of shares in the Escrow Account in accordance with Non-
Disposal and Escrow Agreement in form and manner satisfactory to
the defendant ... said future
consideration by putting the shares into escrow account. Further, the
said escrow agreement again talks about the right to transfer, sell,
pledge
escrow account inter alia in terms of the
Concession Agreement Escrow Agreement and
Substitution Agreement.
iv) The above proposal is made to safeguard immediate
interest ... credit of Escrow
Account has been appropriated and dealt with in the order
prescribed in the Concession Contract and Escrow
Agreement assessing the impact
proceeding", to deposit into Escrow
Account the 100% Debt Due in accordance with Clause 3.2 of
the Escrow Agreement, and
(iii) direct NHAI ... Concession
Agreement cast on NHAI the liability, consequent on termination of
the Concession Agreement, to pay, into the Escrow Account, at least
Company at the Escrow Bank's
Industrial Finance Branch, Mumbai, an account
titled the "Escrow Account". There Escrow
Account shall have ... manner in which the Escrow Account was to be operated
was stipulated in Article 3 of the Escrow Agreement, which
read thus
without obtaining any leave of the Court, the
Escrow agent was changed and a fresh Escrow agreement was
executed on 19th July, 2021 (again, without ... into yet another Escrow Agreement with the new
Escrow Agent. Clause 2.4 of the Escrow Agreement dated 19th July,
2021 goes to the extent
Escrow Amount, shall be released by the Escrow
Agent to Exide US in accordance with the terms of
the Escrow Agreement.
(e) Second Tranche Payment ... Escrow Amount, shall be
released by the Escrow Agent to Exide US in
accordance with the terms of the Escrow Agreement.
3.3 All actions contemplated
Transaction Settlement Agreement dated 12th May, 2007 (for
short the "Escrow Agreement") primarily for the purpose of placing
the equity shares ... that clause 15 is the arbitration
agreement and is an agreement by itself though contained in the
Escrow Agreement. To put it differently, clause
deposited into the Escrow Account."
II. DISPUTE RESOLUTION AND GOVERNING LAW
9 Section 15 of the Escrow Agreement, entitled "DISPUTE
RESOLUTION", states ... Article
15 of the Escrow Agreement in respect of disputes failing within the
scope of that Agreement.
239 The Escrow Agreement (as amended by Amendment
