India: Arbitration appeal dismissed in ARSS-SIPS v. Union of India

The High Court of Chhattisgarh, Bilaspur, has dismissed an arbitration appeal against a commercial court order, rejecting an application to enjoin payment of a performance bank guarantee. In ARSS – SIPS (JV) v. Union of India, the High Court determined that the commercial court “rightly held that the appellants have failed to plead and establish the grounds of ‘fraud’, ‘special equity’ and ‘irretrievable injustice’ to the appellants for seeking interim injunction against the enforcement of bank guarantee.”