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Karnataka Mega Lok-Adalat Settles 123 Commercial Suits Worth 111 Crores
Mustafa Plumber
18 Aug 2021 3:52 PM GMT
At the Mega Lok-Adalat held on August 14, at the Bengaluru Commercial Courts complex, a total of 123 commercial suits were settled and the settlement amount was a whopping Rs 111 crores.As per a report of the Karnataka State Legal Services Authority, "There were only two exclusive commercial courts functioning in Bengaluru till December 2020. Six more courts were established to enable...
At the Mega Lok-Adalat held on August 14, at the Bengaluru Commercial Courts complex, a total of 123 commercial suits were settled and the settlement amount was a whopping Rs 111 crores.
As per a report of the Karnataka State Legal Services Authority, "There were only two exclusive commercial courts functioning in Bengaluru till December 2020. Six more courts were established to enable speedy redressal of commercial disputes. The total pendency of cases is about 5,000 cases in the commercial courts."
In view of the Mega Lok-Adalat, the commercial courts issued notices to parties in about 1000 cases for attempting settlement. Out of these, 365 cases were taken for settlement before the Lok- Adalat. Of these 123 cases were settled, without any scope for further litigation. An 11-year old commercial dispute arising out of a partnership agreement also saw a happy ending at the Lok-Adalat. Moreover, the settlement of commercial disputes also led to the end of connected civil and criminal disputes between the parties.
The report said 62 suits for money recovery including bank suits; 1 IPR suit for damages; 7 Arbitration suits U/s 34 of Arbitration and Conciliation Act; 33 Execution cases; 9 Arbitration Applications U/s 9 of Arbitration and Conciliation Act; 02 Miscellaneous cases were settled by Bangalore urban commercial court.
Justice B.V. Nagarathna is the Chairperson of the Committee for Monitoring the Commercial Courts in the State.
