Note4Students
From UPSC perspective, the following things are important :
Prelims level: Commercial Courts (Amendment) Bill, 2024
Why in the News?
The Ministry of Law and Justice is inviting comments on the draft Commercial Courts (Amendment) Bill, 2024.
The GoI has enacted and amended the Commercial Courts Act, 2015 to ensure that commercial cases are resolved quickly, effectively, and affordably.
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Key features and provisions of the Commercial Courts (Amendment) Bill, 2024:
| Details | |
| Purpose | To enhance the speed and efficiency of resolving commercial disputes through specialized courts and procedures. |
| Dedicated Commercial Courts | Creation of Commercial Courts at the District level and High Court level to exclusively handle commercial disputes. |
| Arbitration Matters | Provisions to establish specific courts for handling arbitration-related disputes. |
| Electronic Communication | Includes provisions for the use of audio-video electronic means (video conferencing) for court proceedings, recording of evidence, and communications. |
| Pre-Institution Mediation | Mandatory mediation before filing a commercial suit, unless urgent relief is required, aimed at reducing litigation burden. |
| Time-bound Decisions | Judgment must be pronounced within 60 days of the conclusion of arguments. The judgment must be delivered to the parties via email or other electronic means. |
| Injunction Applications | Courts must dispose of injunction applications within 90 days of filing, with reasons provided for any delay. |
| Infrastructure | Provisions for setting up infrastructure like video conferencing facilities and other necessary resources for the functioning of Commercial Courts. |
| Appeals Process | New provisions for expediting appeals, requiring prior notice to the opposing party before filing. |
| Witness Management | Provisions to streamline the witness list format, requiring comprehensive details, including addresses and documents, and facilitating electronic submission. |
| Execution Proceedings | Execution proceedings must be disposed of within six months from the date of filing the application. |
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