https://www.taxtmi.com/caselaws?id=762875 An escrow arrangement that expressly ranks statutory dues and GST ahead of project costs and debt repayment must be honoured by the bank or escrow operator. The court found the writ maintainable because the grievance concerned breach of the escrow agreement, not the separate debt-recovery proceedings, and the earlier filing reinforced maintainability. It also held that adjusting receivables towards loan repayment without first providing for statutory liabilities breached the agreed priority and impeded GST compliance. The record further showed that the company had no control over, and no right to operate, the escrow account; the bank maintained and operated it. Relief was confined to corrective measures enabling GST compliance. en-us Fri, 06 Dec 2024 00:00:00 +0530 Fri, 18 Jul 2025 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762875 An escrow arrangement that expressly ranks statutory dues and GST ahead of project costs and debt repayment must be honoured by the bank or escrow operator. The court found the writ maintainable because the grievance concerned breach of the escrow agreement, not the separate debt-recovery proceedings, and the earlier filing reinforced maintainability. It also held that adjusting receivables towards loan repayment without first providing for statutory liabilities breached the agreed priority and impeded GST compliance. The record further showed that the company had no control over, and no right to operate, the escrow account; the bank maintained and operated it. Relief was confined to corrective measures enabling GST compliance. Case-Laws GST Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762875