Financial Technologies India Limited vs National Spot Exchange Ltd. — Bombay HC (2026) — LawSathi Research

Financial Technologies India Limited vs National Spot Exchange Ltd. — Bombay HC (2026) — LawSathi Research

What the court decided

AI extract

Outcome

Notice to the plaintiff ordered on Interim Application No. 7803 of 2025, returnable on 23 February 2026; over and above the court notice, the applicant's advocate must serve the plaintiff by private notice and file an affidavit of service before the next date. The application itself is neither approved nor rejected and remains pending.

Issue for consideration

Whether notice should issue to the plaintiff on Interim Application No. 7803 of 2025 (recorded by the Court as filed by defendant no.2) and the date to which it should be made returnable.

Court's answer

On Interim Application No. 7803 of 2025, filed by defendant no.2, the Court directed the Office to issue notice to the plaintiff, making the application returnable on 23 February 2026.

Ratio / Principle

In addition to the court notice, the applicant's advocate is required to serve the plaintiff by private notice and to file an affidavit of service before the next date.

Detailed headnote1 paragraphs

Interlocutory order of the Bombay High Court (Ordinary Original Civil Jurisdiction) by Gauri Godse, J., dated 2 February 2026, taking up Interim Application No. 7803 of 2025 in Commercial Suit No. 313 of 2015 (PEC Limited v. The National Spot Exchange Ltd and Ors). The Court records the application as filed by defendant no.2 — Financial Technologies India Limited, represented by Cyril Amarchand Mangaldas. Learned counsel for the plaintiff had sought time to apply for discharge. The Court directed the Office to issue notice to the plaintiff on the application, returnable on 23 February 2026, and further required that, in addition to the court notice, the applicant's advocate serve the plaintiff by private notice and file an affidavit of service before the next date. No statute or precedent is cited and no substantive adjudication takes place; the other matters carried in the cause title (Leave Petition No. 342 of 2013, Notices of Motion Nos. 1468, 872, 1357, 1364 of 2015 and 945, 935 of 2016, Interim Applications Nos. 3020 and 3004 of 2022 of Dubai Gold and Commodities Exchange DMCC, and Interim Application No. 3707 of 2024 of Dulisons Cereals) are listed without being acted upon in this order.

12-ia-3020-2022-coms-313-2015.doc

varsha

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO. 3020 OF 2022

WITH

INTERIM APPLICATION NO. 3004 OF 2022

IN

COMMERCIAL SUIT NO. 313 OF 2015

WITH

LETTERS PETITION NO. 342 OF 2013

IN

COMMERCIAL SUIT NO. 313 OF 2015

Dubai Gold and Commodities Exchange DMCC (Applicant/Org. Defendant No. 29)

… Applicant

IN THE MATTER BETWEEN

PEC Limited

… Plaintiff

vs.

The National Spot Exchange Ltd and Ors … Defendants

WITH

LEAVE PETITION NO. 342 OF 2013

WITH

VARSHA VIJAY RAJGURU Digitally signed by VARSHA VIJAY RAJGURU Date: 2026.02.04 18:23:59 +0530

NOTICE OF MOTION NO. 1468 OF 2015

WITH

NOTICE OF MOTION NO. 872 OF 2015

WITH

NOTICE OF MOTION NO. 945 OF 2016

WITH

NOTICE OF MOTION NO. 1357 OF 2015

WITH

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12-ia-3020-2022-coms-313-2015.doc

NOTICE OF MOTION NO. 1364 OF 2015

WITH

NOTICE OF MOTION NO. 935 OF 2016

IN

COMMERCIAL SUIT NO. 313 OF 2015

PEC Limited … Plaintiff

vs.

The National Spot Exchange Ltd and Ors … Defendants WITH

INTERIM APPLICATION NO. 7803 OF 2025

IN

COMMERCIAL SUIT NO. 313 OF 2015

Financial Technologies India Limited … Applicant IN THE MATTER BETWEEN PEC Limited … Plaintiff

vs.

The National Spot Exchange Ltd and Ors … Defendants

WITH

INTERIM APPLICATION NO. 3707 OF 2024

IN

COMMERCIAL SUIT NO. 313 OF 2015

Dulisons Cereals through its Proprietor Smt … Applicant Kanta Gupta

IN THE MATTER BETWEEN

PEC Limited

… Plaintiff

vs.

The National Spot Exchange Ltd and Ors … Defendants

Mr. Erstwhile Advocates, Ms.Mugdha Narkar(through VC), Ms,

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12-ia-3020-2022-coms-313-2015.doc

Shriya Ardekar i/b. The Law Point for Plaintiff.

Mr. Shlok Parekh a/w. Mr. Shray Mehta, Aalisha Sharma and, Mr. Ibrahim Shaikh i/b. Vaish Associates for Defendant No.1.

Mr. Vinay J. Bhanushali, Mr. Abhiraj Rao, Mr. Sanmit Vaze, Ms. Diksha Sharma for Defendant Nos. 21 to 24.

Mr. Vaibhav Bhure a/w. Mr. Rahul Mantri, Mr. Tushar Karkaria and Ms. Parchurya Sahu i/b. Cyril Amarchand Mangaldas for Applicant/Org. Defendant No.2 in IA/7803/2025 a/w. Defendant Nos. 2, 4 17 and 18 in the COMS/313/15.

Mr. Soumyadip Ghorai a/w. Mr. Manavendra Mishra i/b. Khaitan and Co., for Defendant Nos. 29 and 30 in IA/3020/22 and IA/3004/22.

CORAM : GAURI GODSE, J. DATED : 2^nd FEBRUARY 2026

ORDER:

INTERIM APPLICATION NO. 7803 OF 2025

Learned counsel for the plaintiff seeks time to apply for discharge.

This application is filed by defendant no.2. Office is directed to issue notice to the plaintiff, returnable on 23^rd February 2026.

In addition to the court notice, learned advocate for the applicant shall serve the plaintiff, by private notice and file affidavit of service before the next date.

(GAURI GODSE, J.)

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