(1.) Present petition has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act") challenging the Award dated 07.07.2017 passed by the Arbitral Tribunal to the extent it has allowed some of the Claims of the Respondent and has rejected the Counter-Claims of the Petitioner herein. Respondent herein was the Claimant before the Arbitrator and the Petitioner was the Respondent.
(2.) It is the case of the Petitioner that vide letter dated 27.02.2012, NTPC awarded the work of "Site Leveling and Infrastructure Works Package' for its Kudgi Super Thermal Power Project Stage-I (3x800 MW), Karnataka to the Respondent. Contract Agreement was executed on 02.04.2012 with the value of the work being Rs. 1,54,34,54,426/-. The scheduled period for completion was 30 months with the start date as 27.02.2012 and completion date 26.08.2014.
(3.) Respondent agreed that it shall provide adequate manpower and equipment at the site and would carry out mobilization of resources within one month of the Letter of Award i.e., by the end of March, 2012. Thereafter, the work of site clearance and leveling in the main plant area was to be started. The reciprocal obligation of the Petitioner to handover the land for construction work was to start after expiry of 30 days from the date of Letter of Award as per Clause 6.0.0 of the Agreement.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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