QUIPPO INFRASTRUCTURE LTD Vs. AZZ INFRASERVICES LTD

JUDGEMENT

(1.) The petitioner has applied under Section 9 of the Arbitration and Conciliation Act, 1996 for interim protection.

(2.) Learned Advocate appearing for the petitioner has submitted that, the respondent No. 1 had participated in a tender floated by South Delhi Municipal Corporation for solid waste management. The respondent No. 1 has specialized in asset management business. The respondent No. 2 has been set up as a special purpose vehicle incorporated at the instance of the respondent No. 1 for carrying out the specific work of south Delhi Municipal Corporation. Subsequent to the respondent No. 1 becoming the successful bidder, a concession agreement had been entered into between the South Delhi Municipal Corporation and the respondents herein on December 2, 2016 for a period of 8 years for the purpose of solid waste management.

(3.) Learned Advocate appearing for the petitioner has submitted that, the petitioner was instrumental in setting up a business of respondent No. 2. It had also arranged for finance for the machineries and equipment through a financer. The respondent had entered into a Master Services Contract for a period of 8 years with the petitioner on April 28, 2017. The respondent No. 2 had entered into a Master Lease Agreement dated May 5, 2017 with the financer. The parties had also entered into a escrow agreement dated October 4, 2017.