Provisions of Commercial Courts bill 2015
Q. Which of the following statements is/are correct about the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015?
1. The Bill enables the creation of commercial divisions in high courts, and commercial courts at the district level.
2. Intellectual property rights come under commercial disputes.- Published on 28 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
- All pending suits and applications relating to commercial disputes involving a claim of Rs one crore and above in high courts and civil courts stood transferred to the relevant Commercial Division or Courts.
- Commercial Divisions are to be set up in those high courts which are already exercising ordinary original civil jurisdiction such as Delhi, Bombay, Calcutta, Madras and Himachal Pradesh high courts.
- Commercial Divisions will exercise jurisdiction over all cases and applications relating to commercial disputes.
- The Commercial Division shall have territorial jurisdiction over such area on which it has original jurisdiction. Commercial Courts, which will be equivalent to district courts, are to be set up in states and Union Territories where the high courts do not have ordinary original civil jurisdiction.
- Commercial disputes: Dispute related to transactions between merchants, bankers, financiers, traders, etc. Such transactions deal with mercantile documents, partnership agreements, intellectual property rights, insurance, etc.
