1. This is an application for interim reliefs, under Section 9 of the
Arbitration and Conciliation Act, 1996.
2. The petitioner and the respondent entered into an agreement
named and styled as “Goods & Service Order”, dated July 5, 2023.
In terms of the said order, core curing oven was to be supplied to
the respondent. The oven was to be manufactured upon approval
of the specifications and drawings by the respondent. The same
was to be delivered within 60 days from the date of receipt of the
confirmed order and advance payment.
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3. As per the purchase order, the respondent was obliged to pay 50%
advance, against the submission of an advance bank guarantee of
equal value. The said bank guarantee would be valid up to the
delivery of the complete materials at the site of the respondent. It
was further agreed that balance 50% would be paid after
inspection by the engineers of the respondent and prior to
despatch, the petitioner was obliged to submit 20% bank
guarantee which would be valid up to 12 months after the final
installation. The petitioner was required to supply the said goods
within 60 working days after receipt of the confirmed order and
advance payment.