COMMERCIAL COURTS ACT 2015
COMMERCIAL COURTS ACT, 2015
The Commercial Courts, Commercial Division and Commercial Appellate Division of High courts Act, 2015 (The Commercial Courts Act, 2015) ,as it is shortly called is an important step taken by the Government of India in respect of commercial disputes to speed up the judicial system. The Act received president`s assent on 31st December, 2015 and it came into force on 23rd October, 2015.
In the bill, a COMMERCIAL DISPUTE is defined to include any dispute related to transactions between merchants, bankers, financiers and traders etc. Such transactions deal with mercantile documents, partnership agreements and intellectual property rights etc. [Section 2 (c) of Commercial Courts Act, 2015]. It is to create commercial courts at district level to deal with commercial disputes.
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