Saturday, July 11, 2026

Latest:

2026 High Court Latest Legal

SEBI’s framework overrides general contract law in commodity derivatives.

July 11, 2026 legaldeli

By the Circular dated 16.12.2016, SEBI directed all commodity derivatives to comply with the Principles of Financial Market Infrastructures of International Organization of Securities Commission.

On 3.10.2018, SEBI issued the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018.

Circular dated 21.4.2020 of Multi Commodity Exchange of India (MCX) and Respondent No.3 Multi Commodity Exchange Clearing Corporation (MCX-CCL)

Commodity derivatives are not contracts for sale of goods but governed by the Securities Contracts (Regulation) Act 1056 and SEBI regulatory framework. Therefore, the principles of the Sale of Goods Act cannot be invoked that a settlement price must necessarily be positive.

Bombay HC – Not to reopen the completed exchange settlements for trades loss making.

Judgment dated 24.6.2026 of the High Court of Bombay (OS) in Writ Petition No.4930 of 2024 of Dhanera Diamonds Vs. Securities and Exchange Board of India and others with connected writ petitions.

Leave a Reply Cancel reply

I HAVE READ THE DISCLAIMER AND AGREE TO IT.

User Acknowledgement

By proceeding further and clicking on the "AGREE" button herein below, I acknowledge that I of my own accord wish to know more about LegalDeli for my own information and use. I further acknowledge that there has been no solicitation, invitation or inducement of any sort whatsoever from LegalDeli or any of its members to create an Attorney-Client relationship through this knowledge site. I further acknowledge having read and understood the Disclaimer below.

Disclaimer
About: This knowledge-site (www.LegalDeli.in) is owned and operated by LegalDeli (“LD”), and is a resource for your informational and educational purposes only.

No Warranty: LD does not warrant that any content or information contained on this knowledge-site is accurate, correct, complete or up-to-date, and hereby disclaims any and all liability to any person for any actual or threatened loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or otherwise. LD assumes no liability for the interpretation and/or use of the content and/or information contained on this knowledge-site, nor does it offer any warranty of any kind, either expressed or implied in relation to such content or information.

Third-Party Links: LD does not intend that links / URLs contained on this knowledge-site re-directing users to third party websites be considered as referrals to, endorsements of, or affiliations with any such third party website operators. LD is not responsible for, and makes no representations or warranties, express or implied, about the content or information contained on such third party websites to which links may be provided on this knowledge-site.

No Legal Advice: By clicking ‘I agree’ and proceeding further, you acknowledge, represent and undertake that you on your own accord wish to know more about LD, its capabilities and research content and information contained on the knowledge-site, for your own knowledge and personal use. The content and information contained on this knowledge-site should not be construed as nor relied upon as legal advice. You as a reader or recipient of content or information contained in this knowledge-site should not act, nor refrain from acting, based upon any or all of such content or information, but should always seek the advice of competent legal counsel licensed to practice the relevant law in the appropriate jurisdiction.

No Attorney-Client Relationship: This knowledge-site is not intended to be and you should not consider the content or information contained therein to be an advertisement, solicitation, inducement or invitation for an Attorney-Client relationship. Transmission, receipt or use of this knowledge-site, including content and information contained therein, does not constitute nor create an Attorney-Client relationship between LD and you.