https://www.taxtmi.com/caselaws?id=793992 In a regulated commodity derivatives market, the Bombay HC held that a negative due date rate under crude oil futures settlement was not illegal where the contract specifications expressly adopted the external benchmark and the exchange framework treated settlement as final. The Court held that commodity derivatives are contracts for differences, that Sale of Goods Act price concepts did not govern the settlement, and that the statutory and contractual scheme permitted settlement on the reference rate even if negative. It also held that writ jurisdiction could not be used to compel annulment, alter completed settlements, or disturb counterparties not before the Court. The challenge failed and the concluded settlements were left undisturbed. en-us Wed, 24 Jun 2026 00:00:00 +0530 Sat, 27 Jun 2026 08:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793992 In a regulated commodity derivatives market, the Bombay HC held that a negative due date rate under crude oil futures settlement was not illegal where the contract specifications expressly adopted the external benchmark and the exchange framework treated settlement as final. The Court held that commodity derivatives are contracts for differences, that Sale of Goods Act price concepts did not govern the settlement, and that the statutory and contractual scheme permitted settlement on the reference rate even if negative. It also held that writ jurisdiction could not be used to compel annulment, alter completed settlements, or disturb counterparties not before the Court. The challenge failed and the concluded settlements were left undisturbed. Case-Laws SEBI Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793992