( 1 ). The petitioners have moved the present petition under Section 9 of the Arbitration and Conciliation act, 1996 (hereinafter referred to as the Act) for interim relief. Petitioner No. 1 is a Company in the field of manufacturing of all types of summer and winter cloth having a turn over of more than Rs. 300. 00 crores. Petitioner No. 2 M/s Sandhya Textiles is duly constituted as institutional coordinator representing petitioner No. 1 company specifically for the tender floated by Mahanagar telephone Nigam Ltd. (for short MTNL), the respondent. Reference to the petitioner would hereinafter mean petitioner No. 1.

( 2 ). MTNL invited tenders from those who had minimum turn over of rupees three hundred crores for supply of cloth for summer and winter uniforms for Group c and d of its employees. Notice inviting tenders (NIT) was for cloth for the following five types of uniforms:- sl. NO ,. items Approximateindicative quantity (In (Rs) Per meters) mtrs. 1. Cloth for shirts 330816 70-77 (Summer ) 2. Cloth for Pants 129225 260-270 (Summer ) 3. Pants and coats 187101. 375 (woollen cloths for winter ) 4. a) Sarees with blouse 9180 sets 459. 90 (Summer) , b) Suites w