As per case facts, the Hyderabad Telecommunications Department invited tenders for telephone directories. M/s New Horizons Ltd. (NHL), a joint venture, submitted a tender offering a significantly higher royalty than ... the successful bidder. However, NHL's tender was rejected on the technical ground that it lacked experience "in its own name," despite relying on the extensive experience of its constituent companies. The High Court dismissed NHL's challenge, asserting that a company's experience is distinct from its shareholders'. NHL appealed to the Supreme Court. The question arose whether the Tender Evaluation Committee's rejection of NHL's bid, based solely on its own name experience and disregarding its joint venture nature and constituents' expertise, was arbitrary and irrational, violating Article 14 of the Constitution. Finally, the Supreme Court allowed the appeal, holding that the rejection was arbitrary and irrational. The Court emphasized that in commercial transactions, experience should be assessed from a prudent businessman's perspective, considering the company's background, controlling persons, and capacity, rather than just its name. It affirmed that NHL, being a joint venture, could leverage its constituents' experience, and the principle of 'lifting the corporate veil' was applicable when justice required. The contract for a future year was set aside, paving the way for fresh tenders.