The Commercial Courts,Commercial Division and Commercial Appellate Division of High Courts Ordinance, 2015 has been introduced on 23rd October 2015. It envisages creation of commercial divisions in high courts, and commercial courts at the district level for ensuring that commercial disputes arising out of transactions between merchants, bankers, financier, traders etc. are disposed of expeditiously. Such transactions include mercantile documents, partnership agreements, intellectual property rights, insurance, etc.
The commercial divisions in high courts and commercial courts at district level will deal with all matters relating to commercial disputes involving an amount of Rs one crore or more.
All suits of a value of Rs one crore or more that are pending in the high court shall be transferred to the commercial division. Likewise, all suits pending in the district courts, with a value of Rs. one crore or more would be transferred to the commercial court.
The Bill further proposes to set up Commercial appellate divisions in all high courts to hear appeals against orders of commercial divisions of high courts; orders of commercial courts; and appeals arising from arbitration matters that are filed before the high courts.
Any appeal filed in a high court against the orders of tribunals like ‘Intellectual Property Appellate Board’ may be heard by the commercial appellate division of the high court if it relates to a commercial dispute.