Centre For Public Interest Litigation & ... vs Union Of India & Ors

The Supreme Court upheld the policy decision of the Government of India regarding the development of oil fields under a joint venture, emphasizing that the decision was made in light of the foreign exchange crisis and declining domestic crude production. The Court found no merit in the appellants' claims of arbitrary award of the contract for the Panna and Mukta oil fields, as the bidding process was transparent and followed due procedure. Consequently, the appeal was dismissed, affirming the High Court's decision.