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.