The Delhi High Court has refused to stay the decision of Multi Commodity Exchange of India (MCX) to settle crude oil futures contracts at a negative price of Rs 2,884 per barrel.
The high court, however, issued notices and sought responses of the Securities exchange Board of India (SEBI), MCX and MCX Clearing Corporation Ltd on a petition by an investor challenging the MCX April 21 circular.
The court asked the authorities to file their responses within four weeks and listed the matter for June 24. The order, passed on April 27, was made available on the court’s website on Thursday.
