Plea to Annul 2020 Negative Crude Oil Futures Trades on MCX Rejected: Bombay High Court
The Bombay High Court has dismissed a group of writ petitions filed by commodity traders and brokers challenging the decision of the Multi Commodity Exchange (MCX) to settle April 2020 crude oil futures contracts at a negative price. The Court also upheld the decision of the Securities and Exchange Board of India (SEBI) refusing to annul those trades, holding that settled commercial transactions cannot be undone merely because some traders…
