Acting on a writ petition filed by Nir Bahadur Poudel on the behalf of the Chinese company, a division bench of Justices Baidyanath Upadhyay and Tarkaraj Bhatta on Monday stated that it was not necessary to issue stay order against NT. [break]
Poudel on August 29 had filed the petition at the apex court demanding stay order after NT sent a letter to Standard Chartered Bank asking it to withhold the bid bond worth US$ 46,000,000.
According to NT officials, the state owned company decided to send the letter to the bank to withhold the bid amount after the Chinese company did not extend deadline of the bid bond.
The officials said the Chinese company have been looking for ways to terminate the contract citing various reasons including inflation. NT, on August 3, had issued tender notice for supply, delivery, installation and commissioning of the GSM line.
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