JUDGMENT

Sanjeev Narula, J. - By way of a separate order passed today in aRB.P. 12/2020, an arbitral Tribunal for adjudication of disputes between the parties stands appointed.

2. In view of the above, before commencing hearing in the matter, Mr. ashok Singh, counsel for the Respondent, has been queried as to whether he is agreeable for continuation of the interim order granting protection to the Petitioner, till such time that the arbitral Tribunal decides the instant petition by treating it as one under Section 17 of the act. Mr. Singh contests and argues that such course would amount to confirmation of the order of injunction of the Bank Guarantee.

3. although Mr. Singh's contention is incorrect as the Court has only expressed tentative views in the interim order, nevertheless, since the matter pertains to stay on invocation of bank guarantee, counsel for the parties have been heard at length for final disposal of the petition.

FaCTUaL BaCKGROUND

4. The Petitioner vide Letter of acceptance dated 27th May, 2019 was awarded the Contract for the work of 'Earth work in filling, Blanketing, construction of station building, Passenger platform Minor bridges, foot over bridge, Limited heigh