Bill for commercial divisions in high courts | business | Hindustan Times
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Bill for commercial divisions in high courts

business Updated: Dec 16, 2009 22:31 IST
HT Correspondent

The government on Wednesday introduced in Lok Sabha the bill for creation of commercial divisions in the High Courts, to exclusively hear and decide commercial disputes of Rs 5 crore and above.

The bill, after it is passed by both Houses of parliament, will make it mandatory for the 20 High Courts in the country, except Jammu and Kashmir to create the dedicated divisions.

Commercial divisions would decide disputes arising out of ordinary transactions of merchants, bankers and traders, said the bill.

“The commercial divisions would be expected to decide cases within a year... ,’ said the bill, introduced by Law Minister M Veerappa Moily.