HARISH VAIDYANATHAN SHANKAR, J.
FAO (OS) (COMM) 42/2019
FAO (OS) (COMM) 128/2019
1. The present cross-appeals under Section 37 of the Arbitration
and Conciliation Act, 19961, arise from the impugned order dated
18.12.20182 passed by the learned Single Judge in OMP (Comm) No.
481/2016, titled “NTPC Vidyut Vyapar Nigam Ltd. vs. Precision
Technik Private Limited”. By the said order, the learned Single Judge
partially set aside the Arbitral Award dated 08.05.2015 and permitted
NTPC Vidyut Vyapar Nigam Ltd. (hereinafter „NTPC‟) to retain the
sum of Rs. 1,82,13,000/-, which it had received upon encashment of
the Performance Bank Guarantee3 furnished by Precision Technik
Private Limited (hereinafter „PTPL‟).
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