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

Chennai: NSE Clearing Limited 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 and others, has passed an order dated 26 June 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.

NT Bureau