LIGARE AVIATION LIMITED Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) Learned counsel appearing on behalf of the Appellants fairly submits that it would suffice for the disposal of this appeal if Appellants are allowed to open an Escrow Account with Respondent No.2/ Yes Bank for purposes of meeting statutory dues, taxes, operational expenses with the balance to be utilised for payment of dues of Yes Bank, as mentioned in para 13 of the short affidavit filed by Respondent No.2.

(2.) It is submitted by learned counsel appearing for the Appellants that the Appellants are willing to open an Escrow Account with Respondent No.2/ Yes Bank for the aforesaid purposes in accordance with para 13 of the short affidavit.

(3.) Learned counsel appearing on behalf of Respondent No.2 does not have any objection if the Appellants make an application to the Bank for opening of an Escrow Account with Respondent No.2/ Yes Bank for the purposes of meeting statutory dues, taxes and operational expenses with the balance to be utilised for the payment of dues of the Respondent No.2/ Yes Bank.