JUDGMENT

1. The writ petitioner is aggrieved by clause 2.1.19 of the tender conditions stipulated by the second respondent, National Highway Authority of India ("NHAI" in short) and impugns it as arbitrary.

2. The facts in brief are that the petitioner is incorporated under the Companies Act, 1956, and has a diversified work portfolio: Engineering, Procurement, Construction (EPC) & Realty, involved in executing Public Private Partnership (PPP) Infrastructure Development Projects. The petitioner responded to a tender taken out by NHAI for construction, operation and maintenance of six laning from 401.200 km to 494.410 km of NH-8 in the State of Gujarat on Hybrid Annuity basis. In terms of Article 2.20 of the `Request for Proposal', the Petitioner furnished a bid security of Rs.10,93,00,000/- (Rupees Ten Crores Ninety Three Lakh Only). The petitioner's bid was accepted and the Letter of Award(LOA) was issued on 24.01.2017.

3. In terms of the RFP and LOA, the Petitioner incorporated Sabarkantha Annuity Private Limited (SAPL), for project implementation and execution of the concession agreement. The Concession Agreement was executed between NHAI and SAPL on 28.04.2017. In terms o