Current Volume 8
Abstract
Business transactions are based on reciprocal promises. The non-performance of promise by either party will result in disputes. When the commercial disputes go for adjudication, it consumes considerable time. In the interest of trade and commerce commercial courts were established under the Commercial Courts Act, 2015 to ensure timely disposal of commercial disputes and appeal. The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Ordinance, 2018 was promulgated by the President which came into force from 3rd May, 2018. The government has come forward with the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018 to replace the ordinance. The same has been passed by Lok Sabha on 1st August, 2018. The pecuniary jurisdiction of the commercial courts has been reduced which will help in speedy resolution of commercial disputes. State governments to establish commercial courts at the district level. It will provide an opportunity to the parties to resolve the commercial disputes outside the ambit of the courts. The reforms seeks to improve the ease of doing business in India. The amendments, benefits and issues are analyzed and discussed in this article.
Keywords
Act, Bill, Commercial Courts, Commercial disputes, Pre-Institution Mediation, Reforms
Citations
IRE Journals:
Dr. S. Sethuram
"Speedy Resolution Of Commercial Disputes In India: An Analysis Of Recent Reforms" Iconic Research And Engineering Journals Volume 2 Issue 3 2018 Page 43-46
IEEE:
Dr. S. Sethuram
"Speedy Resolution Of Commercial Disputes In India: An Analysis Of Recent Reforms" Iconic Research And Engineering Journals, 2(3)
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