Published in:
Business Standard
Pubished on:
16 Dec 2015
The Lok Sabha today cleared a long-pending measure to set up commercial benches in select high courts to settle high value commercial disputes as part of the government's ease of doing business in India initiative.
The legislation provides for transfer of all pending suits and applications relating to commercial disputes involving a claim of Rs one crore and above in the high courts and civil courts to the relevant Commercial Division or Commercial Courts as the case may be.
Commercial Divisions are proposed to be set up in those high courts, such as Delhi, Bombay, Calcutta, and Madras High Court and the one in Himachal Pradesh, which are already exercising ordinary original civil jurisdiction.