sums held by the respondent no. 2 in escrow pursuant to the Escrow Agreement
dated 27.09.2005 cannot be demanded by the revenue.
10. The respondent ... funds held by
respondent no. 2 as an escrow agent pursuant to the Escrow Agreement dated
27.09.2005, to the Assessing Officer. In this view
Escrow Account').
6. PNB claims that all amounts credited in the Escrow Account are
to be appropriated in terms of the Escrow Agreement, which ... Financing Agreement' is defined under Clause 48.1
of the Concession Agreement which reads as under:
"Financing Agreements means the agreements
executed
disbursement from the Escrow
Accounts. The funds credited to the Escrow Account during the term of
the Concession Agreement were required to be disbursed ... Escrow Account
25.2.1. The Concessionaire shall give, at the time of the
opening of the Escrow Account, irrevocable
instructions by way of an Escrow Agreement
holding that the execution of the Substitution Agreement and the
Escrow Agreement in terms of Article 4.1.2(b) of the Agreement was
a part ... deemed
termination of the Agreement.
24. More importantly, Clause 29.3.2 of the Agreement does not
oblige RLDA to terminate the Agreement in the event
apartments, without crediting the payment in the designated
escrow account, as stipulated in the Escrow Agreement and Agreement.
3. In view of the disputes, RCPL ... heads must be credited to the
escrow account No. 000280200000419 held with
Yes Bank under the escrow agreement and
restrain the respondent from receiving
Escrow
Agreement and Substitution Agreement.
2. Both the aforesaid agreements contain an Arbitration Clause. The
Arbitration Clause as included in the Escrow Agreement ... Escrow Agreement and Substitution
Agreement. There is also no dispute that Clause 10 and Clause 8 of the said
agreements embody an Arbitration Agreement whereby
receipts
directly into the designated Escrow Accounts as per the
terms and conditions of the Escrow Agreements.
Signature Not Verified
Digitally Signed
By:Dushyant Rawal ... designated escrow
accounts, and for such purpose, operate the bank
accounts of Respondents and ensure utilization of
monies as per Escrow agreement;
Signature Not Verified
respondent and his wife entered into two
Share Purchase Agreements (hereafter referred to as 'SPA-I' and 'SPA-
II') with Embassy ... equity
shares to Embassy. The said parties also entered into separate Escrow
Agreements ('Escrow Agreement-I' and 'Escrow Agreement
have already referred
to Clauses 37.3.1 of the Concessionaire Agreement
Signature Not Verified
Digitally Signed
By:DUSHYANT
ARB. A. (COMM.) 75/2021 Page ... have also referred to Clauses
3.2 and 4.2 of the tripartite Escrow Agreement which
refers to termination O.M.P.(I) (COMM)211/2020
Page
referred to Clauses
37.3.1 of the Concessionaire Agreement which is an
express and mandatory provision when said agreement is
terminated on account of concessionaire fault ... have
also referred to Clauses 3.2 and 4.2 of the tripartite Escrow
Agreement which refers to termination payment. To accept
the plea of NHAI that
