(1.) This Letters Patent Appeal has been preferred by respondent no.1 in W.P.(C) No. 3987 of 2016. The learned Single Judge has disposed of the writ petition with the observation in paragraph no.11 of the order dated 7th September, 2016 granting stay against the encashment of bank guarantee till the Arbitral Tribunal/Arbitrator commences its proceeding under Arbitration and Conciliation Act, 1996.
(2.) Having heard learned counsels for both the sides and looking to the facts and circumstances of the case, it appears that respondent no.1 was given work order on 3rd June, 2014 and the agreement was entered into between the parties on 3rd October, 2014 for construction of 7 bridges.
(3.) The work was to be completed on or before 2nd June, 2016 and upto 11th July, 2016, as submitted by the learned counsel for the appellants, only 4% of the work was done.