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Ordinance for constitution of Commercial Courts promulgated

By TIOL News Service

NEW DELHI, OCT 24, 2015: THE President of India has promulgated two ordinances - one for constitution of commercial courts and another to amend the Arbitration and Conciliation Act 1996

One of the ordinances provides for the constitution of Commercial Courts, Commercial Division and Commercial Appellate Division in the High Courts for adjudicating commercial disputes of specified value and for matters connected there with or incidental thereto.

The other ordinance is for amending the Arbitration and Conciliation Act 1996.

The union cabinet had approved promulgation of these ordinances on Wednesday and recommended the same to the President.


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Sub: Commercial Courts

Welcome move. But it needs to be also ensured that the judges chosen for such courts possess expertise in commercial laws, finance and industry knowledge. In addition if the real objective (speed) is to be achieved, it is equally important that lawyers (without whom proceedings can never take place) are disciplined. There is no law/ power in the country to make lawyers act with responsibility and not to boycott Courts. Hence there is an urgent need for a specific law to ensure that the lawyers do not blackmail the entire system and society by abusing their monopoly to practice law, causing hardship to the litigants and judges with impunity. If this blackmail continues, the new law will be like carrying water in a leaky pot.

Posted by sekharramamoorthy sekharramamoorthy
 

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