In view of the above, the Arbitral Tribunal had rightly directed
refund of the amount recovered by BSNL from invocation of the
Performance Bank Guarantee in question. There is no principle in law whereby BSNL could be permitted to retain the Performance Security after it had acknowledged due performance of the Contract. {Para 19}
IN THE HIGH COURT OF DELHI AT NEW DELHI
Judgment delivered on: 28.03.2022
O.M.P. (COMM) 431/2019 & I.A. 14326/2019
BHARAT SANCHAR NIGAM LIMITED Vs TERACOM LIMITED
CORAM
HON’BLE MR JUSTICE VIBHU BAKHRU
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