DEIONERS Vs. WEST CENTRAL RAILWAY KOTA

JUDGEMENT

(1.) THE petitioner has filed the abovementioned petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ,,the Act) who has sought the following reliefs:-

(2.) ON 29th November, 2012, the interim order was passed restraining the respondent to encash the performance Bank Guarantee No.02100005711 in the sum of Rs.2,13,591/- which is stated to be valid till 5th June, 2013 or forfeit the earnest money and security deposit furnished by the petitioner.

(3.) THE fact of the matter is that the Work Order No.W/1623/15/136/2010 dated 27th October, 2010 was sanctioned in favour of the petitioner on acceptance of its tender bid. The work order was expected to be close on 26th February, 2011. However, the petitioner failed to complete the work within time.