JAYANT NATH, J.

IA No. 10422/2017 (exemption)

Exemption is allowed subject to all just exceptions.

Application stands disposed of.

O.M.P. (COMM) 339/2017 and IA No. 10421/2017

1. This petition is filed under section 34 of the Arbitration and Conciliation Act, 1996 (herein referred to as “The Act”) seeking to impugn the Award dated 3.6.2017. The brief facts are that the respondent invited bids and thereafter issued three purchase orders to the petitioner on 27.3.2003, 23.5.2003 and 7.8.2004 for procuring CDMA WLL Subscriber Terminals (hereinafter referred to as “handsets”). The petitioner thereafter completed delivery of the handsets. However, to ensure that the handsets continued to operate the respondent entered into three Annual Maintenance Contracts (AMC’s) dated 5.6.2004, 24.11.2004 and 3.11.2005 for the said handsets. The petitioner also gave three Performance Bank Guarantees (PBG’s) of even dates amounting to a total of Rs.1,13,99,500/-. It is the case of the petitioner that with the advent of new technology the use of handsets was decreasing. Out of a total of 95,