NARESH SINGH Vs. UNION OF INDIA

JUDGEMENT

(1.) I .A.No.4496/2013 has been filed by the respondents No.9 and 10. The respondents No.9 and 10 made following prayer in the application :-

(2.) THE respondents No.9 and 10 pleaded that in pursuance to the order passed by this court, the NHAI-respondents No.7 and 8 had encashed the performance guarantee of Rs.18.12 Crores deposited by the respondents No.9 and 10 in the shape of Bank Guarantee in accordance with the terms and conditions of the contract. It is further pleaded that Concessionaire has completed the repair and maintenance work of the highway ordered earlier by this Court, hence, an amount of Rs.13.12 Crores out of the encashed Bank Guarantee be released to the Concessionaire. It is further pleaded that in accordance with the terms and conditions of the contract, it was the duty of the NHAI to hand over and deliver possession of the land, however, NHAI delivered the possession of the land after four years from the scheduled date, hence, it was not possible within time for the Concessionaire to complete the construction of highway. In this view of the matter, NHAI be further directed to release the amount of annuity of Rs.300 Crores.

(3.) LEARNED counsel appearing on behalf of the Concessionaire has contended that the balance amount of performance guarantee be issued to the Concessionaire and the annuity installments be also paid so that the Concessionaire could construct the highway in terms of the contract. He further pleaded that the amount could be kept in ESCROW account.