JUDGEMENT

JYOTI SINGH, J. (ORAL) I.A. 17817/2023 (exemption)

1. Allowed, subject to all just exceptions.

2. Application stands disposed of.

O.M.P.(I) (COMM.) 302/2023 and I.A. 17818/2023 (stay)

3. This petition has been filed by the Petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘1996 Act’) seeking restraint against the Respondent, its officials, agents and representatives from invoking the Performance Bank Guarantee (PBG) bearing No. 11870000819 drawn on Punjab National Bank for a sum of Rs.25,00,000/-.

4. Factual score to the extent necessary is that Petitioner is a Company incorporated under the Companies Act, 2013 and Respondent is a Joint Venture which had issued a Sub-Contract dated 09.06.2018 for supply of ventilation fans required by Respondent at ITPO Complex at Pragati Maidan, New Delhi. The Contract was entered into between the parties on 09.06.2018 and the value of the work under the amended Contract was to the tune of Rs.8,14,23,073/-. According to the Petitioner, it supplied the technical data shield, requisite drawings, inspection test plan, material delivery schedule, GST registration certificate etc. to the Responden