ADVANCED MINING TECHNOLOGIES Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Writ petition is filed with the following relief:

(2.) Heard Sri P.Sri Raghu Ram, Learned Senior Counsel appearing for Sri P.Sri Ram, Counsel for the petitioner and Sri E.Madan Mohan Rao, appearing for Sri B.Arjun, Counsel for the respondent Nos.2 and 3.

(3.) The learned Senior Counsel for the petitioner submits that the petitioner-company and the 2nd respondent-Corporation entered into 1st Contract on 15/11/2006 vide Contract ROC No.1078. Disputes arose between the petitioner-company and the respondents with regard to said contract regarding non-availability of resource as claimed by the respondents and the consequent reduction in production causing huge losses to the petitioner. The parties entered into Arbitration to settle the disputes as provided contract No.1. The Bank Guarantee for the mobilization of advance in Contract No.1 was sought to be invoked by the respondents herein vide CRP/MP/Sec.12/AMT/2014 /556 dtd. 22/11/2014 while the Arbitration has not reached its conclusion. Against the same the petitioner filed W.P.No.13807 of 2016 and this Court granted interim stay in the same and the matter is still pending.