JUDGMENT :

Om Prakash Shukla, J.

1. Heard Mr Brijesh Kumar Saxena Learned Advocate appearing for UPEIDA and Mr. Jaideep Narain Mathur, Learned Senior Advocate along with Mr. Pritish Kumar representing M/s Sahakar Global Ltd.

2. A short but seminal question arises in the present Appeal filed under section 37 of the Arbitration & Conciliation Act, 1996 (as amended) by the Uttar Pradesh Expressways industrial Development Authority (for short UPEIDA) against an ad-interim Injunction order dated 12.09.2022 (Impugned Order) passed by the Learned Commercial Court, Lucknow under section 9 of the Arbitration & Conciliation Act, 1996 (as amended). Apparently, in the said impugned order the Learned Commercial Court has directed the parties to maintain ‘status quo” with respect to the performance Bank Guarantee, furnished by the Respondent Contractor – M/s Sahakar Global Ltd.

3. The Appellants have submitted that the said “Status Quo” order passed by the Learned Commercial Court, Lucknow as per the impugned order, not only amounts to restraining the invocation and/or encashment of Performance Bank