TRF LTD Vs. INDURE PRIVATE LIMITED

JUDGEMENT

(1.) By way of present petitions under Sec. 9 of the Arbitration and Conciliation Act, 1996, the Petitioner - TRF Ltd. [hereinafter, 'TRF'] seeks a stay order against invocation and encashment of bank guarantees furnished in favour of Respondent No. 1 - The Indure Private Limited [hereinafter, 'Indure']. The background facts and the relief sought being nearly identical, it is considered apposite to decide and dispose of all the petitions by way of a common order.

(2.) TRF is a company engaged in the business of manufacturing, erection and commissioning of bulk material handling equipment. Indure is engaged in the business of procuring such equipment for installation in thermal power plants for its clients/Principle Employers, which, in the instant cases, are Rajasthan Rajya Vidyut Utpadan Nigam Limited [hereinafter, 'RRVUNL'],[1] and National Thermal Power Corporation [hereinafter, 'NT PO][2] The Banks that have issued the bank guarantees are arrayed as Co-Respondents.[3]

(3.) Indure issued certain Work Orders and Purchase Orders on TRF for supply of equipment for several projects at different sites. The details of the equipment, Work Orders and Purchase and bank guarantees are different in each petition, however, the background, circumstances and grounds urged for seeking restrain orders is common. Thus, for the sake of convenience, the factual details in respect of O.M.P. (I) (COMM.) 371/2021 are being noted in detail, and the differentiating details of other cases, to the extent found relevant, are noted separately.