Ans Constructions Pvt. Ltd v. Union Of India And ANR.

$~14 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 406/2017 ANS CONSTRUCTIONS PVT. LTD ..... Petitioner Through: Mr.S.P.Agarwal, Sr. Adv. with Mr.Sushil Aggarwal, Mr.Kunal Kher, Ms.Nandita Sharma, Mr.R.K.Tripathi, Advs.

versus UNION OF INDIA AND ANR.

..... Respondents Through: Mr.Ripu Daman Bhardwaj, CGSC with Mr.T.P.Singh, Adv. for UOI

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 08.01.2018 Counsel for the respondents submits that the respondents have filed a petition under section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act) challenging the impugned award, being OMP (Comm.) no.1/2018, upon which notice has been issued to the petitioner.

On the other hand, counsel for the petitioner submits that the respondents have written a letter accepting part of the impugned award and have offered release of the amount therein, subject to the petitioner giving up its claim under all other heads. In view of the above, I confirm the order dated 27th September, 2017 to the effect that the respondents are restrained from encashing the bank guarantees till the disposal of OMP (Comm.) No.1/2018. The petitioner would keep the bank guarantees alive till further orders in OMP (Comm.) No.1/2018.

The petitioner shall also be at liberty to file appropriate application in OMP (Comm.) No.1/2018 seeking release of the bank guarantees in question.

The petition is disposed of in the above terms. NAVIN CHAWLA, J JANUARY 08, 2018 RN