VIBHU BAKHRU, J.

IA No.15673/2016

1. Allowed, subject to all just exceptions.

2. The application stands disposed of.

O.M.P. (COMM) 571/2016& IA No. 15672/2016

3. Issue notice. The learned counsel for the respondent accepts notice.

4. With the consent of the parties, the matter is taken up for final hearing.

Introduction

5. The petitioner has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereafter ‘the Act’) assailing the order dated 09.09.2016 (hereafter 'the impugned award') passed by the sole Arbitrator under Section 33 of the Act, modifying the Interim Award dated 12.02.2016.

6. The dispute between the parties relates to a contract dated 27.04.2010 (hereafter 'the Contract') for supply of Bullet Proof Jackets (BPJs).

7. In terms of the Contract, the petitioner had furnished bank guarantees aggregating a sum of Rs.5,18,71,250/-(hereafter 'the BGs'); the details of which are as under :-

DATE OF ISSUANCE	BANK GUARANTEES NO.	AMOUNT	VALID UPTO
27.08.2010	0061IGPER003110	Rs.8,77,500/-	23.08.2013
22.01.2011	0061I