Escrow Agreement. The Applicants as well
as the Respondents agreed to abide with the terms of the
Development Agreement and the Escrow Agreement.
The Consent ... conform to the terms of the Agreement in form of
Development Agreement and Escrow Agreement.
Once again, Consent Terms came to be executed
invoices as detailed in SPA, during the escrow period, in the
manner as provided under the Escrow Agreement.
5.3 The learned Senior Counsel further contended ... invoices as detailed in SPA, during the escrow period, in the
manner as provided under the Escrow Agreement.
7.2 Pursuant to SPA, the claimant conducted
Company at the Escrow Bank's New Delhi branch, an
account titled the "Escrow Account". The Escrow
Account shall have the following ... controlled and operated by the Escrow
Bank, titled the "Surplus Account".
(ii) Article 3 of the Escrow Agreement sets outs the manner
breach of public policy. Escrow agreement dated
11th May, 2007 is in the nature of a consultancy agreement. The
Agreement is to provide service ... amount deposited with the escrow agent
can be released to the four parties nominated in the escrow
agreement. All four parties to the escrow agreement
breach of public policy. Escrow agreement dated
11th May, 2007 is in the nature of a consultancy agreement. The
Agreement is to provide service ... amount deposited with the escrow agent
can be released to the four parties nominated in the escrow
agreement. All four parties to the escrow agreement
breach of public policy. Escrow agreement dated
11th May, 2007 is in the nature of a consultancy agreement. The
Agreement is to provide service ... amount deposited with the escrow agent
can be released to the four parties nominated in the escrow
agreement. All four parties to the escrow agreement
shall be deposited in the escrow
account. The relevant extracts from the Tripartite Escrow Agreement are set
out below:
"AND WHEREAS the Purchaser ... upon
receipt of payment in the Escrow Account."
[emphasis supplied]
43. The Tripartite Escrow Agreement bears the signatures of the authorised
representative
Agreement with Euram. Both these agreements contain an
arbitration clause. On the basis of an alleged breach of the terms of
the said agreements, Euram ... Agreement and Pledge Agreement between the
Bank and the company in liquidation. The ancillary ground is that
the governing law under both the Escrow Agreement
charges,
equity/shareholders contribution and deposited into the Project Escrow
Account. Accordingly, an Escrow Agreement was executed on 20.02.2015,
by the parties with the condition ... respondent Bank to the
receivables deposited in the Escrow Account, constitute a
breach of the Escrow Agreement.
(iii) Whether the petitioner Company had control
entered into an agreement for construction of
road. There was three agreements between parties; Concession Agreement,
Substitution Agreement and Escrow ... Agreement. Agreement No.1 was
Concession Agreement and a work's contract, agreement No.2 was substitution
agreement, it is a tri-party agreement
