JUDGMENT

MANOJ JAIN, J.

1. The present appeal filed under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “said Act”) impugns order dated 28.11.2020 passed by Sh. Sanjiv Jain, learned District Judge (Commercial Court-03) Patiala House Courts, New Delhi whereby, the objection petition filed by the appellant herein under Section 34 of said Act has been dismissed.

2. Let us refer to the facts germane for the disposal of the present appeal.

3. A tender was floated by the appellant for procurement of 700 Metric Tons (MT) of „Gram Whole‟.

4. Respondent M/s Indian Agro Marketing Co-operative Limited participated in such tender process and was awarded work contract to supply 700 MT of gram whole at the rate of Rs. 3483/- per quintal.

5. The appellant issued acceptance letter on 09.02.2012. The total value of the work was Rs. 2,43,81,000/- and the delivery was to be made between 01.04.2012 to 30.04.2012.

6. The respondent submitted unconditional Bank Guarantee of Rs.

24,38,100/- as per the stipulated terms and conditions of the contract.

7. The appellant issued „performance notice‟ dated 08.05.2012 directing respondent to perform its contractual obligation to ma