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Ntpc Limited (Korba) vs Subhash Infraengineers Pvt. Ltd on 21 February, 2019

Author: Navin Chawla

Bench: Navin Chawla

$~9
*     IN THE HIGH COURT OF DELHI AT NEW DELHI
+     O.M.P. (COMM) 303/2018
      NTPC LIMITED (KORBA)                        ..... Petitioner
                     Through: Mr.Sanjay Rawat, Mr.Amit Kumar,
                     Advs.

                         versus

      SUBHASH INFRAENGINEERS PVT. LTD.         ..... Respondent
                   Through: Mr.Sanjoy Bhaumik, Adv.

      CORAM:
      HON'BLE MR. JUSTICE NAVIN CHAWLA
                       ORDER

% 21.02.2019 IA 2714/2019 This application has been filed by the respondent seeking release of the amount deposited by the petitioner in the Registry of this Court in compliance with the order dated 21.08.2018 passed by this Court.

Counsel for the petitioner submits that the respondent can avail of the benefit of the Circular issued by the NITI Aayog which also provides for release of the awarded amount subject to certain conditions imposed therein. Counsel for the respondent /applicant on the other hand, submits that the respondent is not interested in seeking release of the amount under the said Circular. He submits instead, the respondent is willing to fully secure the amount that would be released in its favour by way of an unconditional and unequivocal bank guarantee.

Having considered the submissions made by the counsels for the parties, the amount deposited by the petitioner is ordered to be released in favour of the respondent subject to the respondent furnishing an unconditional bank guarantee of equivalent amount with the Registry of this Court and with a condition that the said bank guarantee shall be kept alive during the pendency of the present petition.

The application is allowed in the above terms.

This application has already been allowed by the order dated 21.08.2018 passed by this Court. The same be not shown in the cause list in future.

OMP(Comm) 303/2018 & IA 9388/2018 Counsel for the petitioner prays for and is granted four weeks further time to file rejoinder.

Counsel for the petitioner submits that the petitioner has collected the Arbitral Record from the Arbitral Tribunal and has filed the same in this Court. The same is not on record. Counsel shall check the status of the file with the Registry of this Court and have the same placed on record.

List on 23rd April, 2019 at the end of the Board.

NAVIN CHAWLA, J FEBRUARY 21, 2019 RN