NHPC LTD Vs. HCC LTD

JUDGEMENT

(1.) This appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') has been filed by the appellant challenging the Interim Order dated 01.08.2018 passed by the Arbitral Tribunal restraining the appellant from invoking and encashing the Bank Guarantee No.20090041 BGP 0050 and/or other Bank Guarantee pursuant to the Letter of Invocation dated 09.06.2018 for the recovery of amount mentioned therein.

(2.) The disputes in relation to the Contract Agreement No. NHPC/CC/KG-TURNKEY/02 dated 09.03.2009 for Civil Works of the Kishanganga Hydro-Electric Project (3 x 110 MW) at Bandipora, Jammu & Kashmir have been referred by the parties to the Arbitral Tribunal.

(3.) The Arbitral Tribunal in paragraph 2 of the Impugned Order itself, records the claims raised by the respondent before it in the following words: