Report No. 253
10. Transfer of suit if counter-claim in a Commercial Dispute is of Specified Value:-
(1) Notwithstanding anything contained in the Code of Civil Procedure, 1908, in the event that a counter-claim filed in a suit before a civil court relating to a Commercial Dispute is of Specified Value, such suit shall be transferred by the civil court to the Commercial Division or Commercial Court (as the case may be) having territorial jurisdiction over such suit.
(2) In the event that such suit is not transferred in the manner contemplated in sub-section (1), the Commercial Appellate Division of the High Court exercising supervisory jurisdiction over the civil court in question may, on the application of any of the parties to the suit, withdraw such suit pending before the civil court and transfer the same for trial or disposal to the Commercial Division or Commercial Court (as the case may be) having territorial jurisdiction over such suit, and such order of transfer shall be final and binding.