Almost five months after the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 received the President’s assent, Commercial Courts have reportedly begun functioning in Delhi, Mumbai, Himachal Pradesh and Gujarat.
Introduction of Commercial Courts in India is being welcomed as a positive step for reducing the backlog of cases as well as ensuring the speedy redressal of disputes. The Act received the President’s assent on January 1. It provides for a separate set of Commercial Courts to be set up by State Governments at the District level to try suits and claims pertaining to commercial disputes of a value of at least Rs.1 crore and above.
The Act also provides for setting up of Commercial Appellate Divisions in all High Courts to hear appeals against orders of commercial divisions of high courts; orders of commercial courts; and appeals arising from arbitration matters that are filed before the high courts.
The Commercial Appellate Division is empowered to hear appeals relating to a commercial dispute, filed in a High Court against the orders of Tribunals like the Competition Appellate Tribunal, Debt Recovery Tribunal, Intellectual Property Appellate Tribunal, Company Law Board or the National Company Law Tribunal, Securities Appellate Tribunal, and Telecom Dispute Settlement and Appellate tribunal.