YOGESH KHANNA, J.

1. This petition is under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as ‘the Act’) restraining the respondent Tata Power Company Ltd. for invoking the bank guarantees being No.49951PEBG130007 for an amount of Rs.4,29,00,000/- and No.49951PEBG130006 for an amount of Rs.4,00,00,000/-, submitted through Bank of India, Branch Sahjanad Chowk, Birsa Raj Marg, Harmu, Ranchi, 834012, Jharkhand, India, as also from taking any other coercive action.

2. On 19.5.2017 the Court passed the following order :

3. Mr. Sethi, learned senior counsel for the petitioner has referred to the bank guarantees in question (BG No. No.49951PEBG130007 for an amount of Rs.4,29,00,000/- and BG No.49951PEBG130006 for an amount of Rs.4,00,00,000/-) and has drawn the attention of this Court to para 3 of the said bank guarantees (identically worded in both the bank guarantees) which reads as under:-

“3.0 In consideration thereof, we, Bank of India, Ranchi Mid Corporate Branch, Sahjanand Chowk, Harmu, Ranchi having our registered office at “Star House” C-5, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051 hereby irrevocably and unconditionally guara