Commercial Courts Amendment Bill Passed By Lok Sabha Reduces Pecuniary Jurisdiction to Rs 3 Lakhs [Read Bill]
Manu Sebastian
3 Aug 2018 5:11 PM IST
![Commercial Courts Amendment Bill Passed By Lok Sabha Reduces Pecuniary Jurisdiction to Rs 3 Lakhs [Read Bill]](https://www.livelaw.in/cms/wp-content/uploads/2018/08/commercial-court.jpg "Commercial Courts Amendment Bill Passed By Lok Sabha Reduces Pecuniary Jurisdiction to Rs 3 Lakhs [Read Bill]")
The Commercial Courts(Amendment) Bill 2018 passed by the Lok Sabha on August 1 seeks to lower the pecuniary jurisdiction of Commercial Courts from Rs 1 Crore to Rs 3 lakhs.This is sought to be done through amendment to Section 2(j) of the Act which defines "specified value". As per Section 6, Commercial Courts can try suits relating to commercial transactions having the "specified value". ...
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