STOCK MARKET BSE NSE

Passage of Bill to Settle Commercial Disputes Delayed

The committee is at present touring various states to get a feedback from people and legal experts on the various provisions of the Bill.

Published: 08th July 2015 02:26 PM  |   Last Updated: 08th July 2015 02:26 PM   |  A+A-

By PTI

NEW DELHI: The government's plan to establish commercial divisions in high courts to settle high value business disputes as part of its 'ease of doing business' initiative has been delayed as a parliamentary panel examining the proposed law has been granted extension beyond the Monsoon session.

The department related standing committee on Law and Personnel was to table its report in Parliament on The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015 by end of July.

But it has been granted a month's extension till August 30 by Rajya Sabha Chairman Hamid Ansari, a Rajya Sabha bulletin said.

The committee is at present touring various states to get a feedback from people and legal experts on the various provisions of the Bill.

As the Monsoon session commences from July 21 and ends on August 13, any progress on the bill -- pending in the Rajya Sabha -- is now possible only in the Winter session.

The Commercial Division of High Courts Bill has been pending for a long time. After being referred to a Rajya Sabha Select Committee in UPA's tenure, it was sent to the Law Commission. Based on the law panel's recommendations, the present government re-drafted the bill as part of its 'ease of doing business in India' policy. It was introduced in the Rajya Sabha in April this year.

The introduction of the Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill was announced by Finance Minister Arun Jaitley in the budget speech.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp