The Law Commission on Thursday recommended that the government to set up special commercial courts for the speedy disposal of “high value commercial suits” and suggested “substantial” changes in the Civil Procedure Code.
In its 253 Report, the Law Commission of India headed by chairperson Justice A.P. Shah, recommended to Union Law Minister V. Sadananda Gowda that separate commercial courts, and commercial divisions and appellate commercial divisions in High Courts would all ensure that cases are disposed of expeditiously, fairly and at reasonable cost to the litigant.
The Commission has also included a draft Bill, “the Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill, 2015” and suggestions for substantive procedural changes in the form of amendments to the Civil Procedure Code, 1908.
“Not only does this benefit the litigant, other potential litigants [especially those engaged in trade and commerce] are also advantaged by the reduction in backlog caused by the quick resolution of commercial disputes. In turn, this will further economic growth and increase foreign investment,” it said.
