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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
G. S. KULKARNI, ADVAIT M. SETHNA, JJ.
Multi Commodity Exchange of India Ltd – Appellant
Versus
Madhya Bharat (International) Pvt. Ltd. – Respondent
JUDGMENT :
Advait M. Sethna, J.
1. This Commercial First Appeal is filed against the judgment dated 8 March 2022 passed by the City Civil Court, Dindoshi in Commercial Suit No.701 of 2020 (“Impugned Judgment” for short).
2. Considering the order passed by a co-ordinate Bench of this Court dated 13 November 2024 this appeal ought to be taken up finally at the stage of admission.
3. Admit. We have heard the learned counsel for the parties.
4. The appellant (plaintiff) is the Multi Commodity Exchange of India Limited (“MCX” for short) a company dealing with facility of online trading, clearing and settlement of commodity derivatives. The respondent no.1 (defendant no.1) is a registered member of the appellant-exchange who regularly used the online platform provided by the appellant-exchange for the purpose of trading and the remaining defendants are the Directors of respondent no.1.
5. By way of the present appeal, the appellant (plaintiff) has assailed the impugned judgment and order passed by the Commercial Court by which the commercial suit filed by the appellant (plaintiff) for recovery of a sum of Rs.12,12,980/- with further interest @ 18% p.a. from the date of filing of the suit, till
The right to sue in recovery cases accrues at the time of default, not upon declaration as a defaulter, as per Article 113 of the Limitation Act.
The right to sue accrues when the cause of action arises, and there must be an infringement or a clear threat to infringe the right asserted in the suit.
The delay in filing an appeal is not condoned when insufficient diligence is shown, and limitation is calculated based on the last payment, confirming the applicability of Articles 1 and 113 of the L....
Limitation is a mixed question of fact and law, requiring evidence for determination; dismissal under Order VII Rule 11 CPC cannot occur without proper pleadings.
Limitation for suit initiation is counted from quantification of loss, not from charge-sheet issuance.
(1) Rejection of plaint – When a document referred to in plaint, forms basis of plaint, it should be treated as a part of plaint – Court cannot look into written statement or documents filed by defen....
Arbitration and Conciliation - Applicability of Section 2 (4) - Section 2(4) of Arbitration Act was already in statute on date of amendment to bye-law 252 of Bombay Stock Exchange and thus no contrar....
A cause of action based on an approved bill resets limitation; rejection of plaint under Rule 11 is unwarranted where factual disputes exist.
The main legal point established in the judgment is that the suit filed beyond the limitation period as per Article 19 of the Limitation Act, 1963, for seeking recovery of a loan where no time period....
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