JUDGMENT

Prathiba M. Singh, J. (Oral)--This hearing has been done through hybrid mode.

2. The present writ petition has been filed by the Petitioner-Chandralekha Constructions Pvt. Ltd. challenging the invocation of two bank guarantees. The total sum of the bank guarantees sought to be invoked by the Respondent-National Buildings Construction Corporation Ltd. (hereinafter `NBCC') is Rs.1,55,25,000/-. The details of the BGs are as follows:

3. A tender dated 15th November 2018 was floated by the NBCC for construction of a residential complex for the National Investigation Agency (`NIA') in Delhi. The Petitioner was declared the successful tenderer vide letter 22nd January 2019 and was awarded the contract by the NBCC. The total value of the contract is Rs.62,10,00,000/- (Rupee Sixty Two Crores Ten Lakhs Only). In terms of the letter of award dated 22nd January, 2019, the completion of the work contract was scheduled to be within 18 months. The said letter of award is as follows:

"Performance Guarantee: Pursuant to GCC(Section-3) clause No. 2.0 of the contract, you are requi