Escrow Account was opened with Escrow
Bank i.e YBL. In consequence to the CA, an Escrow Agreement and
Substitution Agreement dated 27.04.2011 were executed ... purpose of entering into the
Substitution Agreement, and subsequently an Escrow Agreement, with the
respondent Nos.1 and 2, was to ensure the petitioner
project, to be deposited in an escrow account. In
consonance therewith, on 2nd July, 2015, an Escrow Agreement
was executed between ... petitioner, the respondent and the
Yes Bank, being the Escrow Bank. As per this Escrow
Agreement, all funds received from the project, were
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
application primarily on the ground that the terms of the escrow
agreement, which envisage release of amount to the petitioner, are
subject to the terms ... time to file a rejoinder, submits that Clause 4.1.1 of
the escrow agreement makes it incumbent upon the respondent no.2,
being the lead Bank
project.
(v) In accordance therewith, on 5th February, 2018, an
Escrow Agreement was executed, between the petitioner,
Respondent No. 1, Respondent No. 3, and Punjab ... respondent, resulting in a second loan
agreement and a new Escrow Agreement, superseding the
earlier Escrow Agreement of 5th February, 2018. Amounts,
recovered or receivables
would be worthwhile to mention here that as per
the Escrow agreement, cheques payable to different persons (
shareholders) of the Dalmia family were deposited with ... payment
made to the assessee does not find place in the Escrow Agreement
is due to the fact that in addition to the assessee, there
Agreement
and to safeguard the interest of the lenders bank, an Escrow Agreement was
executed on 30th ... April, 2009. The said Escrow Agreement is a Tripartite
Agreement executed between DAMEPL, DMRC and the
applicant/intervener. The Escrow Agreement inter alia records
shortfall in the amount required to be deposited as per the Escrow
Agreements;
(c) Pass an order that pending the furnishing of security prayer ... revenues are only deposited in the escrow accounts set up
under the escrow agreements; and (ii) utilize such revenues only for
bonafide purposes strictly
crores in the escrow
accounts being the shortfall in the amount required to be
deposited as per the Escrow Agreements;
(c)Pass an order that ... revenues are only deposited in the escrow
accounts set up under the escrow agreements; and (ii) utilize
such revenues only for bonafide purposes strictly
