JUDGMENT

Manoj Kumar Ohri, J.

1. By way of the present petition filed under Article 226 of the Constitution of India, the petitioners have impugned the termination letter dated 02.11.2022 issued by respondent No.1 (hereinafter, referred to as the `order').

2. Pithily put, the relevant facts are that in the year 2018, the Indian Railway Stations Development Corporation India Ltd. (IRSDC), a joint venture company of Land Development Authority and Ircon ltd., floated an open tender on 15.03.2018 to redevelop the Bijwasan Railway Station on EPC (Engineering, Procurement and Construction) basis. The petitioners participated in the tender and were declared the successful bidder resulting in signing of an Agreement on 02.12.2019. The Agreement was executed by IRSDC. Reportedly, on closure of IRSDC, the Agreement in question was novated in favor of present respondent No.1 vide another Agreement dated 07.01.2022 on the same terms and conditions.

3. Apparently, disputes arose between the parties relating to delay in timely completion of the project. Although extension of time was sought and granted, but eventually the respondent terminated the Agreement vide the impugned order.

4. Mr