The Container Corporation of India (CONCOR) invited tenders in December 2003 for professional survey services at Inland Container Depot (ICD), Tughlakabad, Delhi. The bidding process consisted of two stages: pre-qualification and ... financial bids. M/s Master Marine Services Pvt. Ltd. (appellant) and Metcalfe & Hodgkinson Pvt. Ltd. (respondent) were shortlisted, with the appellant submitting the lowest financial bid. The respondent challenged the appellant’s eligibility, citing a lack of a valid license under the Insurance Act, 1938. The High Court set aside the award to the appellant, prompting an appeal to the Supreme Court.