The court’s resort to supply-by-supply analysis overlooks the manner in which the rights, reciprocal obligations, consideration and development activities operate together to give effect to the executed JDA.

Santosh Associate principally raises constitutional questions about the validity of pre-deposit clauses, and the answers the larger bench gives will settle a controversy that has occupied the courts for some years.

The order is worth reading not just as a status update on pending litigation, but as a case study in how doctrinal categories can obscure the actual problem a clause creates.