RELIANCE ENERGY LIMITED vs MAHARASHTRA STATE ROAD DEVT.CORP.LD.&ORS

The Supreme Court ruled on the eligibility criteria for bidders in the Mumbai Trans Harbour Link project, specifically addressing the exclusion of the Reliance Energy and Hyundai Engineering consortium from the second stage of bidding due to non-fulfillment of financial criteria under clause 7.2.2 of the Pre-Qualification (PQ) Document. The Court held that the consortium's financial statements did not meet the stipulated net cash profit requirement of Rs. 200 crores, thus affirming the decision of the Maharashtra State Road Development Corporation Ltd. (MSRDC) to exclude them. The judgment clarified the interpretation of the PQ Document provisions regarding financial eligibility for consortiums in public tenders.