Case Law Analysis
|Bombay High Court
SEBI Circular on Negative Pricing in Commodity Derivatives Valid | Due Date Rate (DDR) Not Governed by Sale of Goods Act : Bombay HC
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.