VCUSTOMER SERVICES INDIA PVT LTD Vs. ATLANTIC TECHNOLOGIES

JUDGEMENT

(1.) HEARD finally by consent.

(2.) THE petitioner has invoked Section 9 of the Arbitration and Conciliation Act, 1996 (for short, the Act) as their Letter of Intent (LOI) dated 8.9.2008 could not be materialised for various reasons. Therefore, this petition.

(3.) THEREFORE, in view of above and considering the averments, I am inclined to grant prayer (a). However, the learned counsel appearing for respondent makes statement that they are ready to furnish Bank Guarantee to the extent of Rs. 6,70,250/. The other side has also no objection for the same. This, in my view, sufficient to secure the amount.