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TMI Blog2013 (4) TMI 360X X X X Extracts X X X X X X X X Extracts X X X X ..... e acknowledged by the respondent who has issued the letter dated 27th April, 2012 to the petitioner by which the respondent had returned the bank guarantee dated 4th November, 2011 for Rs.1.30 crores and also admittedly paid the sum of Rs.50 lac to the petitioner, as in the said letter it is alleged that the same were returned in view of the amicable acceptance of the petitioner’s intention to exit from the contract with the respondent. Also admitted position that Section 9 petition filed by the petitioner was also dismissed by order dated 23rd August, 2012 wherein the interim order passed on 22nd June, 2012 was vacated. While disposing of that petition, the Court also made the inquiry from the petitioner whether after return by the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed its desire to advertise its brand by way of commercial slides, voice by making use of the Live Media Screens installed by the service provider in Shatabdi Express trains, more particularly, train No.12011-12 (New Delhi-Kalka Shatabdi Express), 12012-14 (New Delhi-Amritsar Shatabdi Express Train) and 12003-04 New Delhi-Lucknow Shatabdi Express Train. The parties entered into an MoU dated 3rd November, 2010 and the petitioner submitted the bank guarantee in question for a sum of Rs.50 lac towards securing the advance payment to be received from the respondent. The parties entered into a formal contract on 22nd March, 2011, with a lock-in period of two years from the work s commencement date. Clause 22 of the agreement provides the dispute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per the payment terms of the contract dated 22nd March, 2011, after the award of permission by the Railways, the petitioner submitted a bank guarantee for Rs.1.30 crores to the respondent vide letter dated 20th December, 2011 and thereafter submitted its invoice for the 1st installment for Rs.1.30 crores dated 29th November, 2011 which was duly acknowledged by the respondent-Company on 12th January, 2012. 7. Thereafter, the petitioner kept on reminding the respondent that even after the bank guarantee was submitted, the invoice of Rs.1.30 crores had not been paid to the petitioner, but the respondent did not pay any heed to the requests of the petitioner who faced a tremendous pressure from the Railways but, the respondent never paid the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itrator, thus, the petitioner has filed the present petition for appointment of sole arbitrator. 9. The main contention of the respondent is that the petitioner has unconditionally exited from the agreement dated 22nd March, 2011 and asked for return of the bank guarantee for an amount of Rs.1.30 crores dated 19th December, 2011. The respondent has, therefore, accepted the demand of the petitioner and returned the bank guarantee in question, thus, there is no live dispute raised by the petitioner. The learned counsel for the respondent has also referred the two letters dated 12th April, 2012, 13th April, 2012 written by Media On Track Entertainment, a Unit of the petitioner. 10. I have considered both the letters relied upon by the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Installment of Rs. 50 Lacs under the agreement dated 22.03.2011 received by us. However, this is subject to the return of our Bank Guarantee for Rs. 130 Lacs (as aforesaid) and Rs. 50 Lacs vide no. 93001PEBG100025 dated 04/11/2011 in favour of Aircel Ltd. We would like to clarify that the 1st installment of Rs. 50 Lacs would be refunded by us only after you have returned our BG of Rs. 130 Lacs. Thereafter the amount of Rs. 50 Lacs will be refunded by DD or Payorder by us in exchange of the Bank Guarantee of Rs. 50 Lacs lying with your office .. 12. It is the admitted position that both the letters were acknowledged by the respondent who has issued the letter dated 27th April, 2012 to the petitioner by which the respondent had returned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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