Authority: Supreme Court of India
Order Date: 15-09-2026
Case Overview
- Parties: ITC Limited (Petitioner) vs. Metropolitan Stock Exchange & Others (Respondents).
- Nature of Proceeding: Petition for Special Leave to Appeal (SLP) No. 31514/2026, arising from the impugned final judgment and order dated 21‑Aug‑2026 passed by the High Court of Judicature at Bombay in WP No. 694/2025.
- Background: The High Court judgment concerned a dispute involving the petitioner and the stock exchange, likely pertaining to securities market regulation, though the specific substantive issues are not detailed in the record.
- Legal Questions: Whether the Supreme Court should entertain the SLP and explore settlement through mediation.
Court Observations & Directions
- The Court, comprising Hon'ble Mr. Justice Aravind Kumar and Hon'ble Mr. Justice Vipul M. Pancholi, directed that for the limited purpose of exploring settlement via mediation, a notice be issued to the parties.
- The notice is to be returnable within four weeks from the date of issuance.
- The petitioner is at liberty to bring to the notice of SEBI the pendency of these proceedings.
- The order was digitally signed by Rashi Gupta on 15‑Sep‑2026 18:11:04 IST.
Final Outcome
- A mediation notice has been issued, mandating a response within four weeks.
- ITC Limited may inform SEBI about the ongoing litigation, potentially influencing regulatory oversight.
Topics: Securities Regulation, Supreme Court Mediation, SEBI Notification