ARVIND CONSTRUCTION CO PRIVATE LIMITED Vs. ENGINEERING PROJECTS INDIA LIMITED

JUDGEMENT

(1.) -

(2.) THE petitioner has filed the present application under Section 20 of the Arbitration Act, inter alia, praying that disputes which have arisen between the parties should be referred to arbitration. Along with the said application, the petitioner has also filed an application under Section 41 of the Arbitration Act read with Order 39 Rules I and 2 in which the prayer is that the respondent should be restrained from encashing the bank guarantees which had been furnished by the petitioner.

(3.) I therefore, direct the respondent to furnish, within 4 months from today, to the satisfaction of the Registrar of this Court, security for a sum of Rs. 38.25 lacs being the amount of bank guarantees which had been encashed by the respondent.