Report No. 253
2. Definitions: -
(1) In this Act, unless the context otherwise requires, -
(a) "Commercial Dispute" means a dispute arising out of:
i. ordinary transactions of merchants, bankers, financiers and traders such as those relating to mercantile documents, including enforcement and interpretation of such documents,
ii. export or import of merchandise or services,
iii. issues relating to admiralty and maritime law,
iv. transactions relating to aircraft, aircraft engines, aircraft equipment and helicopters, including sales, leasing and financing of the same,
v. carriage of goods,
vi. construction and infrastructure contracts, including tenders,
vii. agreements relating to immovable property used exclusively in trade or commerce,
viii. franchising agreements,
ix. distribution and licensing agreements,
x. management and consultancy agreements,
xi. joint venture agreements,
xii. shareholders agreements,
xiii. subscription and investment agreements pertaining to the services industry including outsourcing services and financial services,
xiv. mercantile agency and mercantile usage,
xv. partnership agreements,
xvi. technology development agreements,
xvii. intellectual property rights relating to registered and unregistered trademarks, copyright, patent, design, domain names, geographical indications and semiconductor integrated circuits,
xviii. agreements for sale of goods or provision of services,
xix. exploitation of oil and gas reserves or other natural resources including electromagnetic spectrum,
xx. insurance and re-insurance,
xxi. contracts of agency relating to any of the above, or relating to such other Commercial Disputes which the Central Government may prescribe as per the ensuing sub-clause, and
xxii. such other Commercial Disputes which the Central Government may prescribe.
Explanation 1 - A Commercial Dispute shall not cease to be a Commercial Dispute merely because it also involves action for recovery of immovable property or for realization of monies out of immovable property given as security or involves any other relief pertaining to immovable property.
Explanation 2 - A commercial dispute shall not cease to be a commercial dispute merely because one of the contracting parties is the State or any of its agencies or instrumentalities, or a private body carrying out public functions.
(b) "Commercial Appellate Division" means the Commercial Appellate Division in a High Court constituted under sub-section (3) of Section 3;
(c) "Commercial Court" means the Commercial Court constituted under sub-section (2) of Section 3;
(d) "Commercial Division" means the Commercial Division in a High Court constituted under sub-section (1) of Section 3;
(e) "District Judge" shall have the same meaning as contained in clause (a) of Article 236 of the Constitution of India;
(f) "Document" means any matter expressed or described upon any substance by means of letters, figures or marks, or electronic means, or by more than one of those means, intended to be used, or which may be used, for the purpose of recording that matter;
(g) "Notification" means a notification published in the Official Gazette and the expression "notify" with its cognate meanings and grammatical variations shall be construed accordingly; and
(h) "Specified Value" shall have the meaning as assigned to it in Section 13.
(2) Words and expressions used and not defined herein shall have the meanings assigned to them in the Code of Civil Procedure, 1908 and Evidence Act, 1872.