Disposed

Larsen & Toubro Limited v. Sangam Power Generation Company Limited

Delhi HC10 Apr 2017O.M.P.(I) (COMM.)/132/2017

Case brief

AI extract

What is this about?

The Court disposed of two petitions for arbitration appointments. Parties agreed to refer disputes to arbitration. The Court recorded undertakings regarding bank guarantees, directed a common tribunal, and left contentions open for the tribunal.

What did the court decide?

Proceedings discontinued; parties undertake to maintain/renew bank guarantees until tribunal constitutes; common tribunal directed.

Larsen & Toubro Limited Vs Sangam Power Generation… — Company and Corporate | Delhi HC (2017)

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$~16 & 17

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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O.M.P.(I) (COMM.) 132/2017 LARSEN & TOUBRO LIMITED ..... Petitioner Through: Mr.Rajiv Nayyar, Sr. Adv. with Mr.Rishi Agarwal and Mr.Karen Lahiri, Advs.

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versus

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SANGAM POWER GENERATION COMPANY LIMITED ..... Respondent Through: Mr.Kamaldeep Dayal and Mr.Shikhar Khare, Advs.

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O.M.P.(I) (COMM.) 133/2017 L&T MHPS BOILERS PVT. LTD ..... Petitioner Through: Mr.Rajiv Nayyar, Sr. Adv. with Mr.Rishi Agarwal and Mr.Karen Lahiri, Advs. versus

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SANGAM POWER GENERATION COMPANY LIMITED ..... Respondent Through: Mr.Kamaldeep Dayal and Mr.Shikhar Khare, Advs.

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CORAM: HON'BLE MR. JUSTICE ASHUTOSH KUMAR

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O R D E R % 10.04.2017

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Mr.Rajiv Nayyar, learned senior advocate for the petitioner submits that the petitioner has nominated Hon’ble Justice A.R.Dave, a retired Judge of Supreme Court as one of the arbitrators. Mr.Kamaldeep Dayal, advocate

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appearing for the respondent submits that the respondent shall nominate an arbitrator within a period of three weeks from today.

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Since the parties are agreeable to have the matters referred to the arbitration, there is no need to continue with the present proceedings. All the contentions and arguments raised by the parties are, therefore, left open to be adjudicated by the Arbitral Tribunal.

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The respondent undertakes not to invoke/encash the bank guarantees in issue till the pendency of the proceedings before the Arbitral Tribunal. The petitioner, in turn, undertakes to keep the bank guarantees alive in the meanwhile. The two advance bank guarantees (i) ABG (Supply) No.0544BG00159410 and (ii) ABG (Erection) No.0544BG00159510 are valid till 30.09.2017. The performance bank guarantee CPBG No.0003BG00043510 which is valid till 23.04.2017 shall be renewed for a further period of three months or till such time the Tribunal is constituted. The original renewed bank guarantees shall be furnished to the Arbitral Tribunal on its constitution.

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The parties would be at liberty to approach the Tribunal for appropriate interim reliefs including modification or variation of the orders passed.

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The petition is accordingly disposed off.

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It is further directed that a common Tribunal be constituted for the disputes in both the petitions.

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ASHUTOSH KUMAR, J

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APRIL 10, 2017 k

Larsen & Toubro Limited v. Sangam Power Generation Company Limited

Case brief

What is this about?

What did the court decide?

Larsen & Toubro Limited v. Sangam Power Generation Company Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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