This is a case study of the tigers’ fall from a high and then rise from a considerable low, in general, but in Panna Tiger Reserve (PTR) in central-north-east India, the population recovered from a nadir. The chapter is based on our field work, informal interviews of reserve managers and review of literature: relevant books, peer-reviewed journal articles, committee reports, and some media reporting. It is apparent that in the beginning, tigers were numerous in their range countries, but there was a sharp decline in their populations, after which there was a marginal recovery due to conservation efforts. Indian tiger populations also declined but recovered after serious conservation interventions at the federal government level: forming Project Tiger institution and promulgating Wildlife (Protection) Act, around 50 years ago. In the case of PTR, the situation was different and unique, as the tiger population arguably declined to total extirpation and then recovered rapidly due to tiger relocation-based natural breeding management and strict control on external factors like poaching by 24 × 7 monitoring. The phenomenal success of this intervention could be replicated elsewhere under similar conditions. However, a long-term management plan would be required for the management of the rapidly increasing tiger populations in PTR.