Grant of Ad-Interim Injunction supports Exemption for Pre-Litigation Mediation
Judgment dated 21.8.2026 of the High Court of Bombay in Commercial Suit No.64 of 2024 & Interim Application (L) No.34845 of 2024 in the matter between National Stock Exchange of India Ltd Vs. Guiness Securities Ltd and others
Bombay HC held that where ad-interim relief was granted after judicial consideration, it strongly supports the conclusion that the suit genuinely has contemplated urgent interim relief for section 12A of the CCA.
Section 12A of the Commercial Courts Act – Pre-litigation Mediation
On 17.11.2018, NSE passed an order directing the Defendant No.1 Trading Member to recoup the shortfall of funds and securities. By another order dated 6.5.2019, an expulsion order was passed.
NSE filed the suit for recovery of Rs.339.57 crores against the defendant no.1 defaulters and other defendants. The Suit is thus filed for the purpose of protecting the interests of investors who are clients of Defendant No.1 and who have apparently lost monies/securities due to actions of the Defendants.
Grant of Ad-Interim Injunction supports Exemption for Pre-Litigation Mediation
On 8.2.2024, the ad-interim order for temporary injunction was granted.
Thereafter, the defendants filed application under 7 Rul11 of the CPC and sought rejection of plaint for non-compliance of mandatory pre-litigation mediation under section 12A of the Commercial Courts Act.
In my view therefore once ad-interim relief is granted by this Court considering the nature of urgency involved in the case, it does not lie in the mouth of Defendant Nos.1 to 3 to contend that urgency contemplated under Section 12A of the CC Act is involved in the present case.
