Commercial courts to cover all India except Jammu and Kashmir

It aims to create a dedicated judicial framework for handling specific types of business and trade-related legal matters.

Who it concerns: The Bill affects State Governments (which constitute the courts), High Courts (which constitute divisions and nominate judges), District Judges (who may be appointed as Commercial Court judges), and parties involved in commercial disputes of a 'Specified Value' (minimum one crore rupees) including merchants, bankers, traders, and entities involved in the listed commercial activities.

What the bill does

• Constitution of Commercial Courts by State Governments in consultation with High Courts.
• Creation of Commercial Divisions and Commercial Appellate Divisions within High Courts.
• Definition of 'Commercial Dispute' covering 22 specific categories such as mercantile documents, export/import, IP rights, and construction contracts.
• Establishment of a 'Specified Value' threshold of at least one crore rupees for jurisdiction.
• Judges for Commercial Courts must have experience in commercial disputes or specific legal qualifications.
• Bar against filing civil revision applications or petitions against interlocutory orders of Commercial Courts; challenges must be raised in appeal against the final decree.
• Mandatory transfer of suits to Commercial Courts if a counter-claim in a commercial dispute meets the Specified Value.
• Amendments to the Code of Civil Procedure, 1908, for application to commercial disputes.

Also in the document

• The Act extends to the whole of India except the State of Jammu and Kashmir.
• Commencement dates may differ for different High Courts and provisions, subject to consultation with the Chief Justice of the High Court and the State Government.
• The Act has an overriding effect over other laws in case of conflict.