JUDGMENT :

Sandeep N. Bhatt, J.

1.1 By preferring the present appeal under Section 37 of the Arbitration and Conciliation Act, 1996 read with Section 13 of the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015, read with Section 96 of the Code of Civil Procedure, 1908, the appellants seek to quash and set aside the order dated 21.01.2021 passed by the Commercial Court 6th Additional District Judge, Vadodara, partially allowing the application of the respondent herein under Section 9 of the Arbitration and Conciliation Act, 1996.

1.2 By the impugned order, the Commercial Court has directed the appellants to furnish bank guarantee from the nationalized bank for a period of one year from the date of issue of the amount of Rs.3,78,71,569/- (Rupees Three Crores Seventy Eight Lakhs Seventy One Thousand Five Hundred Sixty Nine Only) in favour of the present respondent within a period of 30 days from the date of order passed by the Trial Court.

2. Before hearing of this appeal, the parties filed the relevant pleadings and documents on record about the contents of which they were ad idem. The learned advocates for both the parties stated that no f