MANMOHAN SINGH, J.

1. By way of this order, I propose to decide the present petition filed by the petitioner under Section 11(6) read with Section 11(8) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Act’).

2. The brief facts as per petition are that the respondent issued an invitation for bid No. RVNL/LKO/UTR-RBL/1 on 7th March, 2012 for the work of 'Construction of Roadbed, Major and Minor Bridges, Track Lining (excluding supply of Rails and PSC Line Sleepers), General Electrical Work and S&T Works in connection with doubling between Utrahtia junction and Rae Bareli junction (65.6 Km.) on Lucknow Division of Northern Railway in Uttar Pradesh State, India' (hereinafter referred to as the 'work').

3. The petitioner submitted its technical and financial bid to the respondent for the work by its letter dated 4th May, 2012. The respondent accepted the bid of the petitioner by means of a Letter of Acceptance (hereinafter referred to as the 'LOA') dated 9th July, 2012.

4. The total contract price was stipulated as Rs. 178,82,64,454.00/-. In the LOA, the respondent required the petitioner to submit performance security and mobilization advance se