Anant Sky Infrastructure Pvt. Ltd. v. Rail Vikas Nigam Ltd. and Anr. & Anr.
Case brief
What is this about?
O.M.P.(I)(COMM.) 169/2026; interim measures under Section 9 Arbitration and Conciliation Act 1996; injunction/restraint against encashment and invocation of bank guarantees; Anant Sky Infrastructure Pvt Ltd v. Rail Vikas Nigam Ltd (RVNL) & Anr.; demand notices dated 18.04.2026; BGs encashed despite stay Order dated 21.04.2026; redeposit of encashed BG amounts into petitioner's ICICI Bank account (Kanpur); consent reference to arbitration under Clause 20.3 of Contract Agreement dated 30.08.2024; three-member tribunal per Clause 20.3.1; waiver of Section 21 legal notice and Section 11 petition; nominees Justice G.P. Mittal (Retd.) and S.D. Sharma (Retd., CPWD); presiding arbitrator nomination within two weeks; Section 12(2) disclosures within one week; Section 9 petition treated as Section 17 application; dispute value approximately Rs. 170 crores; decided 22.04.2026.
What did the court decide?
Petition along with pending applications disposed of in the aforesaid terms: (i) Respondent No.1 (RVNL) to deposit the encashed Bank Guarantee amounts into the Petitioner's ICICI Bank account (J.S. Tower, Kanpur - 208001; A/c 628805502405, IFSC ICIC0006288), the Petitioner undertaking not to deal with the amount till further directions of the Arbitral Tribunal; (ii) statutory requirements of legal notice under Section 21 and formal petition under Section 11 of the Act waived, parties being ad idem on arbitration under Clause 20.3 of the Contract Agreement dated 30.08.2024; (iii) three-member Arbitral Tribunal with nominees Mr. Justice G.P. Mittal (Retd.) (Petitioner) and Mr. S.D. Sharma, Director (Retd.), CPWD (Respondents), Presiding Arbitrator to be nominated within two weeks; (iv) Tribunal to enter upon reference, furnish Section 12(2) disclosures within one week, treat the Section 9 petition as an application under Section 17 and consider it preferably within two months of constitution; (v) arbitration costs to be borne equally; (vi) rights and contentions kept open.