JUDGMENT :

The hearing has been conducted through video conferencing.

1. The above captioned petitions have been filed by the petitioner under the provisions of Section 14 of the Arbitration and Conciliation Act, 1996. Petitioner is an unincorporated joint venture between Hoban Engineering & Construction Ltd. (earlier known as YOU-ONE Engineering & Construction Co. Ltd.) under the laws of the Republic of Korea, who had submitted a bid to respondent, an autonomous agency of Ministry of Road Transport and Highway, Government of India for widening lanes and roads in the State of Andhra Pradesh. Pursuant to acceptance of bid made by the petitioner, a Contract Agreement dated 23.05.2001 was entered between the parties and petitioner commenced the work.

2. According to petitioner, despite various lapses, defaults and breaches, petitioner continued to work in progress, however, on 23.09.2004, the work site of petitioner was forcefully taken over by the respondent at the stage when 68% work was already done by the petitioner. Thereafter, vide communication dated 21.12.2004, the respondent terminated the agreement alleging that petitioner had submitted fraudulent bank guarantees in satisfactio