Topic
bombay high court
Finance Bombay HC Grants SEBI Time for Affidavits in Embassy REIT Petitions; Regulator Signals Likely Stance
The Bombay High Court has granted SEBI time to file detailed affidavits in two writ petitions concerning allegations against the Sponsor and promoters of Embassy Office Parks REIT. SEBI informed the court that it had examined the representation and arrived at a decision, which it indicated was unlikely to support the relief sought. The court directed SEBI to file reasoned affidavits by August 27, 2026, with further hearing scheduled for September 9.
Commodities Bombay High Court Dismisses Petitions Against MCX Negative Crude Oil Futures Settlement in 2020
The Bombay High Court dismissed over 20 petitions challenging the Multi Commodity Exchange's (MCX) decision to settle its April 2020 crude oil futures contracts at a negative price of ₹2,884 per barrel, following the historic NYMEX settlement. The bench upheld MCX's circular, ruling that petitioners were bound by the contract specifications linking settlement to NYMEX prices.
Business Bombay High Court Quashes Government's Retrospective Spectrum Charge, Providing Relief to Telecom Companies
The Bombay High Court on Monday quashed the government's one-time spectrum charge imposed retrospectively from 2008, providing major relief to Bharti Airtel and Vodafone Idea. The court held that the government cannot unilaterally alter financial terms of telecom licences after they have been granted. The retrospective demands cumulatively exceeded Rs 6,000 crore for the two companies.