YOGESH KHANNA, J.

ARB. A. (COMM.) 47/2017

1. The petitioner/appellant has filed this appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as “the Act”) against the impugned majority award dated 12.10.2017 passed under Section 17 of the Act wherein the appellant was directed to furnish bank guarantee of 10.00 Crores of a nationalized bank within two weeks and to auction its equipments, removed from the disputed sites of the respondent within 60 days.

2. Before proceeding further, let me state in brief the facts alleged by the petitioner:-

(a) On 13.04.2010 the Master Service Agreement was entered into between the parties;

(b) in December, 2015 the appellants surrendered / exited from the sites of the respondents for which its 2G licenses have expired;

(c) the respondent demanded the exit amount to the tune of 39,22,48,384/- vide letter dated 10.01.2016 from the appellants which was also followed by a legal notice dated 10.02.2016;

(d) the appellants vide its reply dated 03.05.2016 contended the surrender / termination of sites was for reasons beyond its control;

(e) on 14.09.2016 the appellants issued a Media Reliance about the merger of its