JAKSONS DEVELOPERS (P) LTD vs DELHI DEVELOPMENT AUTHORITY

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 30.04.2026 Judgment pronounced on: 05.05.2026 + O.M.P. (COMM) 349/2023 JAKSONS DEVELOPERS (P) LTD .....Petitioner Through: Mr. Sumit Bansal, Sr. Adv. with Mr. Udaibir Singh Kochar, Mr. Pankaj Gupta, Mr. Utsav Garg, Ms. T Rampal, Ms. Nikita Gupta, Ms. Samvartika Pathak & Mr. Pushkar Khanna, Advs. versus DELHI DEVELOPMENT AUTHORITY .....Respondent Through: Mr. Sanjay Vashistha, Mr. Siddhartha Goswami, Mr. Krish Bhatia & Mr. Aditya Sachdeva, Advs. CORAM: HON'BLE MR. JUSTICE AVNEESH JHINGAN JUDGMENT 1. This petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for short „the Act‟) seeking setting aside/modification of the arbitral award dated 25.04.2023 (for brevity „the award‟) alongwith addendum dated 21.05.2023. 2. The facts shorn of unnecessary details are that the respondent/Delhi Development Authority (DDA) invited bids for commercial plot No. 3B1, Twin District Towers, Rohini (admeasuring 2008. In the meanwhile, the petitioner submitted a Performance Bank Guarantee (PBG) of Rs.9,30,00,000/- (Rupees Nine Crores and Thirty Lakhs) under clause Clause 3.14 of the tender document and was giv