( 1 ) AFRO-ASITN Agro products Singapore Ltd. , petitioner in Suit No. 1636/95, has filed this application under XXXIX Rules 1 and 2 of the Code of Civil Procedure.

( 2 ) THE orginal Suit No. 1636/95 is filed by the applicant/petitioner under Section 20 of the Arbitration Act, 1940. It is the case of the petitioner that on or around 25. 1. 1995 respondent No. 1, Pyrites, Phosphate and Chemicals Ltd. , floated a global tender for supply of 2,00,000 M. T. of urea with certain specifications. The bidders were permitted to offer the quantities they could supply and the price at which they could do the same. Petitioner is a company registered in Singapore and had participated in pursuance of the said advertisement given by respondent No. 1 and gave a tender and offered to supply 25,000 M. T. of urea at the rate of US $199 per M. T. The said offer given by the petitioner was accepted by respondent No. 1 and a contract had been executed between the petitioner and respondent No. 1 bearing No. PPC/urea/95/1/33 on 2. 2. 1995. As per the terms of the said contract the petitioner was to supply urea before 28. 21995. Petitioner was also asked to furnish a Performance Guarantee Bond