MEENAKSHI ENERGY LIMITED Vs. PTC INDIA LTD

JUDGEMENT

(1.) Meenakshi Energy Limited (through its Resolution Professional, Mr. Ravi Sankar Devarakonda) - the Petitioner herein [hereinafter referred to as "MEL'], has approached this Court under Sec. 9 of the Arbitration and Conciliation Act, 1996, [hereinafter referred to as "the Act'], seeking, inter alia: (i) the stay of operation of a termination notice dtd. 25/11/2021, issued by PTC India Limited - being the Respondent No. 1 [hereinafter referred to as "PTC'] in terms of Clause 4.4(c) of the Power Purchase Agreement dtd. 9/10/2018 executed between PTC and Bangladesh Power Development Board [hereinafter referred to as "BPDB'], and (ii) also stay of invoking of certain performance of bank guarantees.

(2.) FACTS

(3.) CONTENTIONS OF THE PETITIONER