Delhi HC refuses to stay MCX Circular fixing Due Date Rate of Crude Oil futures contract at negative value; Issues notice in challenge

Delhi HC refuses to stay MCX Circular fixing Due Date Rate of Crude Oil futures contract at negative value; Issues notice in challenge
Crude Oil

The Delhi High Court has issued notice in a challenge to the April 21 MCX Circular which has fixed the Due Date Rate of Crude Oil futures contract, expiring on April 20, 2020, at a negative value of Rs 2,884. (Akshay Aluminium Alloy Ltd vs SEBI & Ors)

A Single Judge Bench of Justice C Hai Shankar has, however, refused to stay the operation of the Circular.

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