Commercial Courts, Commercial Division and Commercial Division of High Courts (Amendment) Bill, 2018

Lok Sabha passed, Commercial Courts, Commercial Division and Commercial Division of High Courts (Amendment) Bill, 2018, that will help India become a hub for domestic and global arbitration for settling commercial disputes. It was passed through a voice vote.

Key Highlights

• The Commercial Courts Act, 2015 provides for commercial courts and commercial divisions of high courts to adjudicate commercial disputes with a value of at least one crore rupees.The bill reduces this limit to three lakh rupees.
• The bill allows state governments to establish commercial courts at the district level, even in territories where high courts have ordinary original civil ....