Delhi HC To Transfer Commercial Suits Valued At Or Below Rs.2 Crores To District Courts [Read Circular]
The Delhi High Court yesterday issued a circular to transfer all commercial suits valued at or below Rs. 2 crores pending before it to the respective District Courts.
The circular is based on the recently passed Commercial Courts, Commercial Division and Appellate Division of High Courts(Amendment) Act 2018, which altered the specified value from Rs.One crore to Rs. 3 lakhs.
The circular will be applicable to commercial suits filed on or after May 3, 2018, the date from which the amendment is effective.
The circular mentions that for the purposes of transfer, the cases will be listed before Joint Registrars(Judicial) for formal orders.
The Commercial Courts(Amendment) Bill 2018 passed by Parliament in August 2018 lowered the pecuniary jurisdiction of Commercial Courts from Rs 1 Crore to Rs 3 lakhs. This is 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".