UMAXE PROJECTS PRIVATE LIMITED Vs. ITS DIRECTOR

JUDGEMENT

(1.) I.A. 8565/2019 (Exemption)

(2.) Petitioner is a construction company. Respondent No. 1 (Air Force Naval Housing Board, hereinafter "AFNHB") is a society registered under the Societies Registration Act, 1860.

(3.) In 2017, the Respondent No. 1 issued a Notice Inviting Tender (NIT) dated 17th Oct. 2017 for balance of construction of all civil work, external development work, internal and external sanitary plumbing work, water distribution system drainage work, landscaping including irrigation lifts and internal electrical works at its residential complex at Meerut (hereinafter, "the Meerut project"). The Petitioner submitted its bid and was selected. Thereafter, pursuant to Letter of Acceptance ("LoA") dated 30th Nov. 2017, the Petitioner and Respondent No 1 entered into a formal agreement dated 17th Jan. 2018 ("the Meerut Agreement"). Clause 18 of this agreement contains the arbitration clause. As a condition for submitting the tender, execution of work under the Contract and for other collateral purposes, the Petitioner furnished following Bank Guarantees: