JUDGMENT

Vibhu Bakhru, J. The petitioner has filed the present petition impugning an order of the respondent dated 18.03.2014 (variously referred to as `the blacklisting order' or `the impugned order') whereby the respondent has banned the petitioner for an indefinite period from doing any future projects with the respondent or participating in bidding process for any of its tenders in future. The said decision is subject to review after a period of ten years.

2. The brief facts that are relevant for examining the controversy in the present petition are as under:

2.1. The respondent-GAIL (India) Limited (hereafter also referred to as `GAIL') is a state-owned natural gas processing and distribution company in India. The respondent invited E-Tender no.8000002161 for laying of pipelines of spurlines to Bhilwara and Chittorgarh and augmentation of existing Vijaipur Kota pipeline (hereafter `E-Tender 2161'). The complete scope of work of the E-Tender 2161was divided into 5 parts (Part A, B, C, D and E).

2.2. Paragraph 4.2 of the Invitation for Bids (hereafter `IFB') stipulated that the Indian Bidders shall have minimum working capital of Rs.30 million for Part D and Rs.18.5 million