1. The applicant/petitioner has approached this Court under Section 9 of the Arbitration and Conciliation Act, 1996 with a prayer that the Court should issue an interim injunction restraining the respondents from terminating the contract awarded to the applicant/petitioner and should also give directions to the respondents not to invoke the Performance Bank Guarantee, Machinery Advance Guarantee and Mobilization Advance Guarantee furnished by the applicant and restraining respondents from taking any other coercive or adverse steps of towards the applicant.

2. The facts relevant for the purpose of deciding the present application are that the applicant had entered into a contract with the respondent for 4-laning of National Highway No. 28 between Gorakhpur and Gopalganj from km 360.915 to km 402.00. Thus, the length of construction of 4 laning awarded to the petitioner measured 41.085 kms. The initial contract was entered into between parties on 20.10.2005. The last date for completion of the 4-laning work was November, 2008. The work was not completed within the stipulated period and the petitioner/applicant made representation to the respondent not to cancel the contract and to gr

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