ORDER

1. This petition under Section 9 of the Arbitration and Conciliation Act, 1996 [The Act] has been preferred seeking the following reliefs:

"a. Grant ad interim stay on the effect and operation of the Termination Notice dated 17.04.2023 issued by Respondent No. 1, with respect to the Contract "Construction of two-lane with hard shoulder of Changtongya-Longleng Road on EPC basis from existing Km.16.530 to Km 29.530 (Design Km. 18,779 to Km. 33.428, Design length 14.649 Kms.) in the State of Nagaland (Pkg-2) under NH (O) Plan";

b. Restrain the Respondent No. 1 from acting in furtherance of the Termination Notice dated 17.04.2023 issued by Respondent No. 1, with respect to the Contract "Construction of two-lane with hard shoulder of Changtongya-Longleng Road on EPC basis from existing Km. 16.530 to Km 29.530 (Design Km. 18.779 to Km. 33.428, Design length 14.649 Kms.) in the State of Nagaland (Pkg-2) under NH (O) Plan"

c. Restrain the Respondent No. 1 from taking any coercive steps against the Petitioner under the Contract "Construction of two-lane with hard shoulder of Changtongya-Longleng Road on EPC basis from existing Km. 16.530 to Km 29.530 (Design Km. 18.779 to Km. 33.428, Design length 14.649 Kms.) in the State of Nagaland (Pkg-2) under NH (O) Plan"

d. Restraint the Respondent No. 1 from retendering the balance work in the contract being "Construction of two-lane with hard shoulder of Changtongya-Longleng Road on EPC basis from existing Km. 16.530 to Km 29.530 (Design Km. 18.779 to Km. 33.428, Design length 14.649 Kms.) in the State of Nagaland (Pkg-2) under NH (O) Plan"

e. Direct the Respondent No. 1 to allow the Petitioner to continue with the execution of the balance contract works and allow them to complete the same within 60 dry days and complete the project works in all respects.

f. Direct the Respondent No. 1 to refund the excess amount held by them vis-a-vis the amount equivalent to the amount of bank guarantees issued by Punjab National Bank, by way of recoveries from running bills as well as by way of withholds to enable the Petitioner to expeditiously take up the execution of balance works in the contract and complete the same before the onset of monsoon.

g. Direct the Respondent No.1 to return the bank guarantees issued by Punjab National Bank, Sansad Marg branch to the Petitioner to enable the later to pursue their options against their consultant PNB.

h. Interim and ad-interim reliefs in terms of prayers (a) to (f) above.

i. Pass such other and further order(s) as this Hon'ble Court may deem fit and proper in the facts and circumstances of the case."

2. The dispute emanates between the parties from a contract which was awarded to the petitioner in terms of a Letter of Acceptance dated 11 March 2020 for the following work:

"Construction two-lane with hard shoulder of Changtongya-Longleng Road on EPC basis from existing Km 16.530 to Km 29.530 (Design Km. 18. 779 to Km. 33.428. Design length 14.649 Kms.) in the State of Nagaland (Pkg-2) under NH (O) Plan"

3. The aforesaid work was to be accomplished at a contract price of INR 128 crores. As would be evident from the reliefs prayed for in the present petition, interim measures and orders of injunction are sought in respect of a Termination Notice which came to be issued by the National Highways & Infrastructure Dev