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(Per : Arun Bhansali, CJ)
1. This appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (‘Act, 1996’) is directed against judgment dated 20.03.2025 passed by Commercial Court No. 01, Meerut whereby the application filed by the appellant under Section 34 of the Act, 1996 against award dated 22.02.2024 passed by Micro and Small Enterprises Facilitation Council (‘MSEFC’), Meerut Zone, Meerut has been dismissed.
2. The respondent claimant was registered with the District Industries Centre, Noida, Uttar Pradesh as a ‘small enterprise’ on 14.02.2017 under the Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED Act, 2006’). A tender notice dated 09.09.2016 was issued by the Railways for construction of retaining wall, construction/extension of passenger platform & surfacing, provision of station name board, water booth, prefab, surfacing, small bench shelter, washable apron, water pipe line, drain small building etc. in Dehradun yard or at any other station between Haridwar and Dehradun stations in connection with development of facilities for running 18 coach trains between Hardidwar – Dehradun section of Moradabad Division. The claimant submitted its bid on 14.10.2016 and the work was awarded on 07.02.2017 which was to be completed within 18 months i.e. up to 07.08.2018. Performance Bank Guarantee (‘PBG’) was deposited by the claimant and a contract agreement was executed between the parties on 15.12.2017. On account of slow progress of work, the contract was rescinded on 19.01.2019. The security deposit was forfeited, PBG was encashed.
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