R. Banumalthi, J.

These appeals are filed challenging the order dated 15.11.2010 dismissing the applications - O.A.Nos.653 and 657 of 2010 filed under Section 9 of the Arbitration and Conciliation Act and declining to grant injunction restraining the 1st respondent - Southern Railway from invoking the Bank guarantee given by the appellant for Rs.6,00,000/- and Rs.2,77,200/- respectively.

2. Brief facts are as follows:-

The 1st respondent -Southern Railways had invited tenders for erection of 3 LED screens in Chennai Central Railway Station and 2 LED screens in Egmore Railway Station for a period of three years and the place of installation was notified. Appellant was declared as a successful tenderer and awarded the contract for three years - 2008-2011 on payment of licence fee. The licence fee, security deposit and performance guarantee required to be furnished for the works at Chennai Central and Egmore are as follows:

Name of the Place Licence fee Security Deposit Performance

Guarantee

Chennai Central Railway Rs.40,00,000/- per annum

Rs.6,00,000/- Rs.6,00,000/-

Station payable in 3 Instalments

Rs.18,48,000/- per annum

Name of the Place Licence fee Security Deposit