Business Standard

Bombay HC gives four week to MCX, Sebi to reply on negative crude price

Court refuses to stay MCX's April 21 circular, which fixed a negative settlement price on the Aprol crude oil contract

Sebi
Premium

Hearing the case today, the court granted four weeks to MCX and Sebi to file their responses.

Dilip Kumar Jha Mumbai
The Bombay High Court today refused to stay the April 21 circular of the Multi Commodity Exchange of India (MCX), which fixed a negative settlement price on the April crude oil contract.

The petitioner, Motilal Oswal Financial Services Ltd (MOFSL), had filed a suit against MCX and markets regulator Sebi, seeking a stay on the processing of the circular which fixed (minus) Rs 2,884 a barrel as the price of crude oil.

Hearing the case today, the court granted four weeks to MCX and Sebi to file their responses. 

In yet another case on the same issue, the Delhi High Court refused to

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2020 | 5:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com