JUDGMENT

(Order of the Court was made by G.Jayachandran, J.)

Being aggrieved by non-payment of the sale consideration for the goods sold, the appellant, a supplier of steel materials to the respondent for the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) project had approached the District-Level Micro & Small Enterprises Facilitation Council at Fatehgarh Sahib Punjab (hereinafter 'MSMED Council'), claiming a sum of Rs.59,42,986.21 is due and payable, along with interest. The claim petition before the MSMED Council claiming a sum of Rs.59,42,986.21 is primarily based on the alleged admission of the respondent in its email dated 12.05.2017.

2. The respondent, who participated in the proceedings before the MSMED Council, had made a counter-claim, stating that the goods supplied was not in tune with the specifications and were not delivered in time. Therefore, for breach of the terms of Letter of Intent (LOI), the respondent attempted to invoke the Performance Bank Guarantee (PBG). However, the claimant approached the Civil Court at Punjab seeking injunction against the invocation of the Bank Guarantee. The said application for injunction was dismissed after hearing bot