G.S.SISTANI, J. (ORAL)

1. Present petition has been filed by petitioner under Section 9 of Arbitration and Conciliation Act, 1996, with the prayer that respondent no.1, GAIL (India) Limited, be restrained from invoking the bank guarantee No.1998IGPER0000914 for a sum of Rs.2,44,26,595/-, pending disposal of the arbitration proceedings between the parties.

2. Notice. Mr.Dhruv Mehta, learned senior counsel on instructions from Ms.Purnima Maheshwari, accepts notice.

3. The necessary facts, to be noticed for disposal of this petition, are that respondent no.1 floated a Bidding Document for Balance Pipeline Laying and Terminal Works for Part D and E of Vijaipur – Kota Pipeline Project. As per Clause 35.4 of the tender terms and conditions, a prospective bidder was required to submit an undertaking as to whether they were under liquidation and Court Receivership or not. The same was to be done through an Integrity Pact, format of which was attached.

4. As per the petition, at the relevant time, the petitioner was facing a litigation initiated by Tata Capital Financial Services Limited before the Bombay High Court in respect of a commercial dispute and vide order dated 27.11.20