TUAMAN ENGINEERING LIMITED Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) Although the petitioner is only seeking a direction upon the respondent no. 1 to consider the complaint dtd. 22/5/2026 which is now pending before the respondent no.1, it would be relevant to note down the facts giving rise to the filing of the writ petition.

(2.) The petitioner claims to have been awarded with a contract by The Fertilisers and Chemicals Travancore Limited (hereinafter referred to as 'the employer') for construction of additional phosphoric acid storage tank at Q10 Berth, Wellingdon Island, Kochi vide order dated 480001487 dtd. 12/2/2021. In terms of the contract, the petitioner was required to and had accordingly, furnished a security deposit in the form of bank guarantee issued by the respondent no. 3 herein in favour of the employer.

(3.) In relation to the execution of the contract, certain disputes and differences having arisen, the petitioner had invoked the arbitration clause in the contract, however, prior thereto, the petitioner had approached the Hon'ble High Court of Kerala in WP(C) No. 46444 of 2024 apprehending invocation of bank guarantee.