Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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The High Court held that the writ petition challenging the respondent Bank's actions in not releasing amounts deposited in an Escrow Account for payment of statutory liabilities like GST from 2017 onwards is maintainable, despite other disputes being adjudicated before the Debts Recovery Tribunal. The Bank's adjustments to the receivables in the Escrow Account for loan repayment, resulting in non-compliance with statutory requirements like filing GSTR-3B and non-payment of GST, constituted a breach of the Escrow Agreement. The petitioner Company did not have control or the right to operate the Escrow Account, which was to be operated by the respondent Bank as per the Agreement. Consequently, the writ petition was allowed.
The High Court held that the writ petition challenging the respondent Bank's actions in not releasing amounts deposited in an Escrow Account for payment of statutory liabilities like GST from 2017 onwards is maintainable, despite other disputes being adjudicated before the Debts Recovery Tribunal. The Bank's adjustments to the receivables in the Escrow Account for loan repayment, resulting in non-compliance with statutory requirements like filing GSTR-3B and non-payment of GST, constituted a breach of the Escrow Agreement. The petitioner Company did not have control or the right to operate the Escrow Account, which was to be operated by the respondent Bank as per the Agreement. Consequently, the writ petition was allowed.
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