 The Gujarat State Petroleum Corporation has been a leading light of the so-called Gujarat Model of Development. The GSBC was a flagship company of the state government that promised unprecedented economic resurgence. Gujarat Rajna, Minister Tarikena, Maharaj Karthavyo, Sraddha Purwak and Antah Karan Purwak Pajawish. After Narendra Modi was re-elected as Chief Minister of Gujarat in December 2002, in the aftermath of the bloody communal riots, GSBC promised energy security not only to Gujarat but the whole of India. But much of the gas that the GSBC claimed to have discovered in the Krishna-Gudavari Basin in the Bay of Bengal could not be extracted. The manner in which the company managed its affairs and a number of questionable deals it struck with various firms including companies in the Ambani and Adani groups were adversely commented on by the Controller and Auditor-General of India. For a company that had been hyped as a dynamic organization, its finances were in a mess. Despite the criticism of the CAG and the political opponents of the incumbent regime led by the Bhakti Dhanaka Party, GSBC continued to borrow recklessly and had taken loans totaling almost 20,000 crore rupees. In the form of the Pradhan Mantra, I will take revenge for my crimes with the help of Pradhan Purwak and Antah Karan Purwak. In May 2014, Modi had become the Prime Minister of India. Two years later in May 2016, it was announced that the Oil and Natural Gas Corporation, one of India's biggest public sector corporations owned by the people of India, was going to bail out the ailing GSBC by buying its stake in the Krishna-Gudavari Basin project. What was Modi's pride became Gujarat's embarrassment and India's shame. Is this what the Gujarat model of development all about or is it all a grand illusion?