VIL LIMITED Vs. IL&FS TRANSPORTATION NETWORKS LTD

JUDGEMENT

(1.) This application has been filed by petitioner seeking sine die adjournment of proceedings during the existence and operation of order dated 15.10.2018 passed by National Company Law Appellate Tribunal, New Delhi (herein after referred to as "Appellate Tribunal") in Company Appeal (AT) Nos. 346 and 347 of 2018.

(2.) Petitioner has filed main petition under Sec. 9 of the Arbitration and Conciliation Act, 1996 (herein after referred to as the "Act") for restraining the respondents from invoking the performance bank guarantee furnished by the petitioner, issued by ICICI Bank in pursuance to construction contract dated 30.8.2018 between the petitioner and respondent.

(3.) Pending consideration present main petition in this Court, an interim order has been passed on 15.10.2018 by Appellate Tribunal in Company Appeal (AT) Nos. 346 and 347 of 2018. Petitioner, for insisting its prayer to stay present proceedings, has referred directions contained in interim stay order passed by Appellate Tribunal which reads as under:-