GARG BUILDERS Vs. HINDUSTAN PREFAB LTD.

JUDGEMENT

(1.) Hindustan Prefab Limited (HPL) invited tenders from interested bidders for construction activities to be carried out at various locations in the country. With respect to three of the tenders thus floated, the petitioner Garg Builders was the successful bidder.

(2.) Tenders were awarded to the petitioner, by HPL, for carrying out of construction activities at Ghaziabad, Uttar Pradesh, Raipur, Chhattisgarh and Asansol, West Bengal vide Letters of Award dtd. 3/3/2016, 9/1/2017 and 4/8/2018, followed by agreements dtd. 21/3/2016, 25/1/2017 and 25/9/2018 respectively.

(3.) Each of these Agreements required the petitioner to provide Bank Guarantees towards security deposit as well as Performance Bank Guarantee (PBGs). Bank Guarantees, as so required, were undisputedly furnished by the petitioner to HPL. All the Bank Guarantees were issued by HDFC Bank Ltd. ("the Bank") which is, accordingly, Respondent 2 in these three petitions.