ECI-NAYAK Vs. IRCON INTERNATIONAL LIMITED

JUDGEMENT

(1.) This petition has been filed under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act") interalia praying for the following reliefs:

(2.) It is the case of the petitioner that the petitioner was awarded the work of carrying out "Earthwork in filling in embankment provision of blanketing material construction of viaduct minor bridge and RUB in the stretch from KM 0.00 ( Agartala to Km 5 .1 India Bangladesh border) and construction of service road from trans shipment yard to NH-44 in connection with new BG railway line from Agartala Akhaura" vide Letter of Acceptance dated 07.02.2017. Thereafter an Agreement dated 25.07.2017 was also executed between the parties.

(3.) In terms of the Agreement, the petitioner had handed over the Performance Security in form of Bank Guarantee(s) to the respondent no.1.