Report No. 253
Annexure
The Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill, 2015
A Bill to provide for the constitution of commercial divisions and commercial appellate divisions in High Courts and for the creation of commercial courts in other parts of the country for adjudicating commercial disputes, the procedure to be adopted in deciding commercial disputes and for matters connected therewith or incidental thereto.
1. Whereas it has been observed that owing to greater economic activity, the number and value of Commercial Disputes are increasing significantly;
2. Whereas it has been observed that high value Commercial Disputes constitute a large proportion of civil disputes that remain pending before High Courts and various civil courts in the country;
3. Whereas to ensure further economic growth, greater foreign investment, and to make India an attractive place to do business, it is essential that Commercial Disputes are decided in a fair, effective and timely manner;
4. Whereas there is a need to ensure that the adjudication of Commercial Disputes ensures speedy relief to those engaged in trade and commerce so that the lack of efficacious remedies do not impede the growth of trade and commerce by rendering nugatory their rights in law and equity;
5. Whereas it is advisable, in accordance with international best practices, to create new courts and provide for judicial manpower trained in commercial law to decide Commercial Disputes so as to reduce the growing pendency of commercial disputes and to achieve efficacious and expeditious disposal of such cases; and
6. Whereas it is necessary to provide for substantive changes in the procedural laws that are applicable for deciding Commercial Disputes to achieve these objectives.
Now therefore be it Enacted in the Sixty-Sixth Year of the Republic.
Back
