ANGELIQUE INTERNATIONAL LTD. Vs. SALMA DAM JOINT VENTURE

JUDGEMENT

(1.) IA No.7012/2022 (Order XXXIX Rules 1 and 2 CPC by the plaintiff) 1. For disposal of the captioned application, the relevant facts are that WAPCOS/defendant No.3 (hereafter, 'WAPCOS'), a Govt. of India Undertaking, invited pre-qualification applications from interested bidders for "Reconstruction, Rehabilitation and completion of Salma Dam Project (3x14 MW), Afghanistan, Package-III: Main Civil and Hydro Mechanical Works" (hereafter, 'the Project').

(2.) Plaintiff and defendant No.2 executed a joint venture agreement dtd. 9/9/2005 (hereafter, 'the Agreement'), leading to the formation of the SDJV/defendant No.1 (hereafter, 'JV'), which submitted its bid to WAPCOS, and were ultimately declared as the successful bidder. The project was awarded to the JV vide Letter of Award dtd. 17/1/2006. Later, an addendum dtd. 29/3/2006 was also entered into w.r.t the said Agreement.

(3.) Plaintiff has claimed that in terms of clause 4.3 of the Agreement, pursuant to an understanding/agreement dated 24/25/1/2006, the scope of work of both parties of the JV was defined. Per the same, plaintiff furnished a bank guarantee of Rs.8,07,90,465.00, while defendant No.2 furnished a bank guarantee of Rs.17,30,53,000.00, both of which were in favour of WAPCOS. Subsequently, a formal contract dtd. 9/3/2006 (hereafter, 'the Contract') was entered into between WAPCOS and the JV. The Agreement and the bank guarantees were made part of the said Contract. The project was completed, however, retention amount of Rs.1,61,08,04,915.00 remains payable by WAPCOS to JV. In the aforesaid backdrop, the plaintiff has preferred the present suit for rendition of accounts, along with ancillary reliefs including that of injunction.