- (1.) The petitioner company is, inter-alia, engaged in the business of generation and sale of electricity by establishing Solar Power Project. With an intention to establish a solar based 5 MW power Plant at Bhadrada Village, Sami Taluk, Patan District in the State of Gujarat, it engaged the services of the respondent herein for construction and execution of civil works. The work order dated 28.04.2010 was placed by the petitioner with the respondent company for construction of the compound wall behind 66 KV Sub-Station in the aforesaid project for a total value of Rs. 87,82,409/-. This contract was amended subsequently. Another work order dated 10.06.2010 was also placed before the respondent company.
(2.) According to the applicant, the respondent company could not finish the work within the stipulated period and progress of the work was slow and this led the applicant to rescind/terminate the contract. The balance work was got done from another contractor. On the aforesaid premise, the applicant claims that it has to recover certain amount from the respondent, the details of which are as under:- " i) Liquidated damages in terms of clause 6 of the first work order to the tune of Rs. 10,87,513.20 and under Clause 7 of the second work order to the tune of Rs. 8,92,079.90, totalling to Rs. 19,79,593.10; ii) Rs. 2,95,00,000/- towards loss of profit; iii) Rs. 52,50,000/- towards penalty likely to be imposed on the p etitioner by the Gujarat Grid; iv) Rs. 5,00,00,000/- as damages/compensation for causing damage to petitioner's reputation and goodwill; The agreement between the parties concededly contains an arbitration clause which reads as under:- 14.0 Arbitration : Arbitration shall be in accordance with Indian Arbitration and Conciliation Act, 1996. The Arbitration Venue shall be at Delhi."
(3.) The respondents in their reply, though have refuted the averments of the petitioner on-merits, stating that the fault lies with the petitioner, on that basis, even they have their counter claims which are mentioned in the reply. However, as pointed above, the arbitration clause is not disputed. Thus, disputes have arisen between the parties and therefore, claims and counter-claims have been preferred by both the parties against each other. These are to be adjudicated upon by the Arbitrator in terms of clause 14.0 as extracted above.;