JUDGMENT

Vibhu Bakhru, J. - The petitioner, SPML Infra Ltd. (hereafter 'SPML') is a company incorporated under the Companies Act, 1956 and undertakes civil engineering works.

2. The respondent (hereafter 'NTPC') is a public sector undertaking and is largely involved in commissioning and operation of thermal power plants.

3. Spml has filed the present petition under Section 11 of the Arbitration and Conciliation Act, 1996 (hereafter the 'A&C Act'), inter alia, praying that an Arbitral Tribunal be constituted to adjudicate the disputes that have arisen between the parties in relation to the Contract Agreement being "01/CS-3530-131-2R-FC-COA-5288 & 5299" dated 22.06.2009 in respect of a Project for "Installation Services for Station Piping Package for Simhadri Super Thermal Power Project Stage II (2X500 MS) at NTPC Simhadri, Vishakapatnam" (hereafter the 'Contract Agreement').

4. In terms of the Contract Agreement, SPML had furnished Performance Bank Guarantees and Advance Bank Guarantee of a total amount of Rs. 14,96,89,136/- to secure NTPC. The details of the said Bank Guarantees are set out as below: