UNION OF INDIA Vs. NAYAK INFRASTRUCTURE PVT. LTD.

JUDGEMENT

(1.) Heard Mr. G. Goswami, the learned counsel for the appellants and Mr. U. K. Nair, the learned senior counsel assisted by Mr. R. Singha, the learned counsel appearing on behalf of the Interim Resolution Professional, appointed for the respondent by the National Company Law Tribunal in CP(IB) No.10/2021.

(2.) This is an application under Sec. 37 (1) (b) of the Arbitration and Conciliation Act, 1996 (for short, the Act of 1996) challenging the order dated 04.011.2019, passed in Misc. (Arb) Case No. 56/2019 whereby the Court of the Additional District Judge, No. 1, (Kamrup (M) at Guwahati vide the said order had restrained the appellants herein from invoking or encashing the performance bank guarantee amounting to Rs.2,23,44,827.00 furnished by the respondent and also from forfeiting the security deposit and earnest money deposited by it for the work allotted to it.

(3.) At this stage, it may be relevant herein to mention that the said order was passed ex-parte. It is also pertinent to mention that the appellants had also filed the written objection in the said Misc (Arb.) Case No. 56/2019 and the same is presently pending before the said Court of the Additional District Judge, No. 1, (Kamrup (M) at Guwahati