As soon as the composition of the World Commission on Dams (WCD) was declared, it was not difficult for most of the developing countries to visualize the possible nature of the report it was to generate, despite all the talk about its so-called 'participatory' and 'transparent' consultation process. Even the gullible were disillusioned when the report was launched with a great fanfare. This article looks into the myth of WCD's claim of a so-called consensus report, of bringing proponents and opponents of dams together and the 'knowledge base' that was supposed to have been generated. It discusses the inherent weakness in the Process of consultations of WCD and the genesis of imbalances in the report that are so obvious, thereby leaving no choice with the developing countries but to reject it.