SC stays payment obligation under option contract in IL&FS Securities case

NSE Clearing Limited Saturday said a Supreme Court order has stayed payment obligation under option contract in a matter related to IL&FS Securities Services.

"The Supreme Court in the matter of ILFS Securities Services Limited Vs SEBI & others has passed an order dated June 26, 2019, wherein payment obligation under the option contract (NIFTY CE 5000 27-JUN-2019) has been stayed," NSE Clearing said in a release.

The clearing and settlement mechanism of the clearing corporation is robust and the obligations in all other contracts have been duly settled in the normal course on the appointed settlement date, it added.