Within the biosphere every object is influenced by microbial activities. A very unfamiliar case is represented by the microorganisms involved in the process of corrosion of different metals and their alloys. Many workers have reported bacteria responsible for initiating, accelariting and promoting the process of corrosion. While several recent authors have also documented corrosion inhibiting/controlling roles of microorganisms. It appears that like a healthier balance between the normal microbiota and pathogens, required for maintaining health of a host; a comparable balance among the members of microbial community of soil is required for protecting the buried mild steel pipes from corrosion based losses. This work reports isolation of both corrosion enhancing as well as corrosion controlling bacteria from an identified location. The bacterial isolates were then studied under laboratory but field simulated conditions to explore the roles of the monocultures of both catogaries of the bacteria. While effects of their co-cultures have also been delineated in comparable experimental set up. The findings are helpful in controlling corrosion of soil buried mild steel pipes.