EMAAR MGF CONSTRUCTION PVT LTD Vs. DDA

JUDGEMENT

(1.) INSTANT appeal lays a challenge to the order dated December 20, 2010 dismissing appellant's petition under Section 9 of the Arbitration and Conciliation Act, 1996.

(2.) BANK guarantees in sum of Rs. 183 crores were the subject matter of the said petition filed and relief prayed was to restrain payment under the bank guarantees on the allegation that they were fraudulently invoked.

(3.) THE appeal has lingered on, and on February 21, 2012, the Division Bench had queried as to what was the stage of arbitration, for the reason the contract between the parties contains an arbitration clause. THE Bench was informed that the arbitral tribunal had not been constituted and the appellant had taken records to proceedings under Section 11 of the Arbitration and Conciliation Act, 1996.