LLOYD INSULATION INDIA LTD Vs. NTPC

JUDGEMENT

(1.) Since learned Counsel for the caveator has put in appearance, the caveat stands disposed of.

(2.) The petitioner has filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 for an interim measure restraining respondent No. 1 (NTPC) from invoking or encashing four bank guarantees given for performance of the contract between the parties. It is also prayed that respondent No. 2 bank be restrained from making any payment in respect of the these bank guarantees.

(3.) NTPC awarded a contract to the petitioner for supply and installation of fire-proof cable penetration sealing system for its thermal plant in Uttar Pradesh.