The petroleum ministry was all smiles on Tuesday. A sense of victory pervaded the corridors of Shastri Bhavan. But the celebrations were low key. Officials chose to laugh at the divestment ministry only with trusted friends and colleagues. No comments were offered to outsiders.

"Since the Supreme Court ruling is against the government, we cannot go overboard with our feelings. Otherwise you would have seen jubilation all around," said a senior official on condition of anonymity.

"The divestment would have been like offering a goldmine to the private sector on a platter," said an official.

But there was another group within the ministry that looked totally shattered. These officials had invested heavily in Hindustan Petroleum Corporation Ltd hoping to make a quick buck. The crash in the HPCL stock following the Supreme Court ruling shattered their dreams.

The ministry has been following the case keenly. After every hearing, there were "internal meetings" in the ministry to discuss the possible outcome. However, after the final hearing, the consensus was that the Supreme Court would rule against the government.