BREAKING; President Promulgates Constitution of Commercial Courts and Arbitration and Conciliation (Amendment) Ordinances [Read Full Text of Ordinance]
The President of India has promulgated two ordinances today- one for constitution of commercial courts and another to amend the Arbitration and Conciliation Act 1996
One of the ordinances provides for the constitution of Commercial Courts, Commercial Division and Commercial Appellate Division in the High Courts for adjudicating commercial disputes of specified value and for matters connected there with or incidental thereto.
The other ordinance is for amending the Arbitration and Conciliation Act 1996.
The union cabinet had approved promulgation of these ordinances on Wednesday-(21.10.2015) and recommended the same to the President.
Read the Ordinance here.