Losing Party cannot seek an Order under Section 34 of Arbitration Act

Advertisement Tecnimont Private Limited & Anr. Vs ONGC Petro Additions Limited (Delhi High Court) FACTS  The Petitioners and the Respondents entered into two contracts dated 2nd September, 2011 wherein the Petitioners were allotted the work of construction, development and successfully commissioning of a Polyethylene Unit (“PE Unit”) and the Polypropylene Unit (“PP Unit”). The term of the contracts was 28 months for execution and the Petitioners were under an obligation to produce bank guarantees as under Clause 3.3 and 3.8 of the General Conditions of Contract (“GCC”) of t...