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3. Vide Letter of Acceptance dated 23rd June, 2016, Respondent No. 1 informed the petitioner that its bid, for "Design, Supply, Construction, Testing and Commissioning of Signalling, Telecommunication and Associated Works of Double Track Railway Lines Under Construction On A Design Build Lump Sum Basis for Mughalsarai-New Bhaupur Section of Eastern Dedicated Freight Corridor-Contract Package-203" (hereinafter referred to as "the Project"), for construction of Double Line Electrified Section, covering 388.14 km, between Mughal Sarai and New Bhaupur and 29.15 km between Junction Stations and IR Stations, had been accepted, at the contract price of ₹ 471 crores.

35. The four Advance Bank Guarantees were titled "Advance Payment Security - Demand Guarantee", and the relevant covenants thereof read as under:

"ADVANCE PAYMENT GUARANTEE DEMAND GUARANTEE Beneficiary: Dedicated Freight Corridor Corporation of India Ltd/Dedicated Freight Corridor Corporation of India Ltd, 5th Floor, Pragati Maidan, Metro Station Building Complex, New Delhi, 110001, India Dated: 27.05.2019 Advance Payment Guarantee No.: 316020698264 Guarantor: Standard Chartered Bank Trade Services - New Delhi 2nd Floor DLF Building No, 7A, DLF Cyber City, Sector-23/24/25A Gurgaon - 122 002 We have been informed that Beijing National Railway Research and Design Institute of Signal and Communication Group Co., Ltd Building No.12, Block 1 of Advanced Business Park No. 188, Nansihuanxilu, Fengtai District, Beijing, China (hereinafter called 'the applicant') has entered into Contract No. HQ/S and T/EC/D-B/Mughalsarai - New Bhaupur Dated 03/10/2016 which the beneficiary, for the execution of signalling and communication works of design, supply, construction, testing and commissioning of signaling, telecommunication and associated works of double track railways lines under construction on a design build lump sum basis for Mughalsarai-New Bhaupur Section of Eastern Dedicated Freight Corridor (hereinafter called 'the Contract').
"PERFORMANCE SECURITY (DEMAND GUARANTEE) Beneficiary: Dedicated Freight Corridor Corporation of India Ltd. 5th Floor Pragati Maidan Metro Station Building Complex, New Delhi, 110001, India.
Date: 3rdAug 2016 Performance Guarantee No.: LG28501B600124 Guarantor: Industrial and Commercial Bank of China Ltd, Mumbai Branch. 8th Floor, A Wing, One BKC, Plot No. C- 66, G Block of the Bandra Kurla Complex, Bandra East, Mumbai We have been informed that Beijing National Railway Research and Design Institute of Signal and Communication Group Co. Ltd, Building No. 12, Block 1 of Advance Business Park, No. 188 Nansihuan Xilu Fengtai District, Beijing, China (hereinafter called 'The Applicant') will enter into Contract according to letter of acceptance No. HQ/S & T/EC/CP-203/BID EVAL./64/PART V dated 23.06.2016 which the beneficiary, for the execution of Contract No. CP 203 - Design, Supply, Construction, Testing and Commissioning of Signalling, Telecommunication and Associated Works of Double Track Railway Lines under Construction on Design Build lump sum basis for Mughalsarai-New Bhaupur Section of Eastern Dedicated Freight Corridor (hereinafter called 'The Contract').