K.V. JACOB Vs. COCHIN SMART MISSION LTD

JUDGEMENT

(1.) The petitioners are before this Court seeking to declare that they are entitled to get the performance security submitted by them reduced from 10% to 3% and to get retention amounts released in view of the orders of the Government of India and Government of Kerala.

(2.) The petitioners are civil contractors. The petitioner in W.P.(C) No.23679/2021 executed an agreement with the respondents for the development of roads for Division I and II under Smart City Mission, Kochi. Ext.P1 letter of acceptance was issued by the 1st respondent on 6/9/2019. The petitioner provided Performance Guarantee.

(3.) The petitioner in W.P.(C) No.26212/2021 was awarded the work for construction of three minor bridges and two foot over bridges. The petitioner furnished Performance Security at the rate of 5%. An agreement was executed on 9/6/2020.