https://www.taxtmi.com/caselaws?id=439512 The court held that the petitioner company was liable to transfer both the principal and interest earned on escrowed funds to the Investor Education Protection Fund (IEPF) under the Companies Acts. It determined that Chapter IIIB of the RBI Act did not override these provisions and that RBI's directions on interest were not binding. The court rejected estoppel and waiver arguments against statutory requirements, ordering the transfer of the escrowed amount and accrued interest to the IEPF by a specified date, dismissing the writ petitions without costs. en-us Mon, 26 Jun 2023 00:00:00 +0530 Tue, 27 Jun 2023 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439512 The court held that the petitioner company was liable to transfer both the principal and interest earned on escrowed funds to the Investor Education Protection Fund (IEPF) under the Companies Acts. It determined that Chapter IIIB of the RBI Act did not override these provisions and that RBI's directions on interest were not binding. The court rejected estoppel and waiver arguments against statutory requirements, ordering the transfer of the escrowed amount and accrued interest to the IEPF by a specified date, dismissing the writ petitions without costs. Case-Laws Companies Law Mon, 26 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439512