Topic
Bombay High Court upholds SEBI and MCX's authority to fix negative settlement prices for crude oil futures, ruling DDR is a contractual term distinct from 'price' under the Sale of Goods Act. The judgment reinforces regulatory flexibility in commodity derivatives amid market volatility, impacting traders and exchanges.
The Bombay High Court holds that stock brokers are vicariously liable for unauthorized trades executed by sub-brokers if the financial benefits flow to the broker, even without explicit authorization. This reinforces SEBI’s duty to ensure accountability in the broker-sub-broker chain and protects retail investors from systemic negligence in trading platforms.
Bombay High Court holds that absence of pre-trade authorization does not automatically render trades unauthorised; context, conduct, and evidence determine liability under Arbitration Act.
Bombay High Court sets aside arbitration award directing refund of brokerage for authorized trades, reaffirming that regulatory lapses don't justify equitable compensation.