Religare, other brokers follow Motilal Oswal, sue MCX over crude oil issue

Cases filed in high courts of plaintiffs' jurisdiction, exchange files caveat pledging opportunity for hearing

A day after three top brokers moved court against the MCX settling the price of the April oil contract in negative, several others, including Kunvarji Commodities, follow suit on Thursday.  The contract was settled on Tuesday.

The Securities and Exchange Board of India (Sebi) and the MCX Clearing Corporation have been made respondents to these cases.

The MCX, on the other hand, has filed a caveat in the Bombay High Court, pledging not to pass an ex-parte order without giving a proper hearing.

The plea filed by