The President Promulgated an Ordinance constituting Commercial Courts in India
Commercial Courts established in India
The President of India (Shri Pranab Mukherjee) on October 23, 2015 promulgated the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Ordinance, 2015, No. 8 of 2015.
The Ordinance is aimed to provide speedy settlement of commercial disputes by providing for the constitution of Commercial Courts, Commercial Division and Commercial Appellate Division in the High Courts for adjudicating Commercial Disputes of Specified Value, which shall not be less than One Crore Indian Rupees or such higher value as may be notified by the Central Government and for matters connected and incidental thereto.
The State Government may after consultation with the concerned High Court, by notification, constitute such number of commercial courts as it deems necessary provided no Commercial Court shall be constituted over which the High Court has ordinary original civil jurisdiction.
Pursuant to this Ordinance, all suits and applications, including the ones under The Arbitration and Conciliation Act, 1996 relating to commercial disputes of such specified value pending in the High Court or any civil court in any district, shall be transferred to the Commercial Division or Commercial Court as the case may be.
Further, all suits and applications transferred to the High Court by virtue of Section 22 (4) of the Designs Act, 2000 pertaining to Piracy of a Registered Design, or Section 104 of the Patents Act, 1970 pertaining to Jurisdiction of Suits concerning Infringement of Patents, shall be heard and disposed of by the Commercial Division of the High Court in all the areas over which the concerned High Court exercises ordinary original civil jurisdiction.
The said Ordinance can be accessed here.