(1.) Heard Mr. Y.V. Giri, the learned Senior Advocate for the petitioners/company and Mr. Lalit Kishore, learned Senior Advocate for the Bihar Urban Infrastructure Development Corporation Ltd.
(2.) The respondent No. 2/Bihar Urban Infrastructure Development Corporation Ltd. (in short the BUIDCO) had selected the petitioners/company for renovation, rehabilitation and conservation of Motijheel and its maintenance and upkeep for twelve months.
(3.) The aforesaid agreement stands cancelled by the order impugned and the petitioners/company has been blacklisted. The petitioners/company has also been slapped with a threat that the bank guarantee shall be encashed.