1. Heard Smt. Madhavi Goradia Divan, learned senior counsel for the Petitioner, Shri Yashraj Singh Deora, learned senior counsel for the Respondent Nos. 1 to 3 and Smt. Pallavi Pratap, learned counsel for the Respondent Nos.7 and 8.

2. It is a classic case where instead of acting in a just, fair and equitable manner, the statutory corporation, a state instrumentality, has acted in a high - handed manner while exercising arbitrary powers with no sense of fairness in a matter of commercial interest.

3. The Indian Oil Corporation Limited (In short 'IOCL') after having lost before the Single Judge and the Division Bench of the High Court of Calcutta in successfully defending its above action has preferred this Special Leave Petition, probably in order to cover its illegal action.

4. The Special Leave Petition is directed against the judgment and order dated 04/07/2018 passed by the Division Bench of the High Court upholding the mand