LARSEN & TOUBRO Vs. EXPERION DEVELOPERS

JUDGEMENT

(1.) This petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act") has been filed by the petitioner, inter alia, praying for an order of injunction restraining the respondent no.1 from invoking the following Bank Guarantees: S. No. Name of the Bank BG No. Date of Issuance Current Amount (In Crores) Valid upto (i) Yes Bank 003GM0714029 0002 29.01.2014 3.8 30.06.2019 (ii) IDBI Bank 1303801BGF00 113 18.04.2013 13.84 30.11.2020 140380IBGF003 61 08.09.2014 13.84 31.10.2019 150380IBGF001 06 23.03.2015 1.6 30.06.2019 (iii) Induslnd Bank 0007PR1301373 6 15.03.2013 31.68 30.06.2019

(2.) The Bank Guarantee mentioned at Serial No.(i) of the above table is the Advance Money Bank Guarantee. The Bank Guarantees mentioned at Serial No.(ii) are the Retention Money Bank Guarantees and the Bank Guarantee at Serial No.(iii) is the Performance Bank Guarantee.

(3.) As far as the Bank Guarantee for an amount of Rs.1.6 crores mentioned at Serial No.(ii) hereinabove is concerned, the respondent no.1 has not yet invoked the same and respondent no.1 in its reply states that it does not wish to invoke the same.