JUDGMENT

Ravi Krishan Kapur, J. - This is an application under Section 9 of the arbitration and Conciliation act, 1996 ('the act').

The facts:-

2. The disputes between the parties arise out of a notice inviting an E-Tender for setting up a 10 MW Solar Photovoltaic Power Plant at Mejia, District-Bankura, West Bengal. Pursuant to the aforesaid notice, the petitioner was awarded a Letter of award dated 6 September, 2016 (LOa). The LOa contains all the terms and conditions of the contract between the parties. Clause 13 of the LOa provides that the petitioner was to submit a performance bank guarantee for an amount not less than 10% of the total value of the contract. Clause 32 of the LOa also provides for an arbitration clause.

3. In terms of clause 13 of the LOa, the petitioner through its banker furnished a performance bank guarantee to the respondent no.1. The bank guarantee dated 19 august, 2016 (the guarantee) inter alia provides as follows:

Dear Sirs,

In consideration of West Bengal State Electricity Distribution Company Ltd., (herein after referred to as the 'Owner' which expression shall unless repugnant to the context or meaning thereof include its successors, administrators and ass