Wednesday, July 8, 2020
 Jeypore police plan to implement STV scheme for better traffic control  Puri Jagannath Temple ‘pandas’ to visit shrines for tips on hygiene, good conduct  

State govt mulling designated courts to deal with commercial disputes below Rs 1 crore value




 In its bid to make Ease of Doing Business’(EDOB) smooth further, State Government is set to designate a dedicated and specialized judge soon to adjudicate commercial disputes under Rupees 1 crore.

As the State Government is keen to make the State an attractive investment destination’, this new legal facility is required to be extended as such cases are pending for years in the regular courts and needed to be fast tracked, said sources.

The sources said senior officials of Law and Industries Departments are working out the details for such an innovative initiative.

A senior official in the State Government said that the rationale behind the designation of a dedicated and specialized Judge to adjudicate commercial matters under Rs One Core is a natural step as the Commercial Courts only deal with matters over Rs.1 Crore.

As a result, matters below Rs1 crore were filed in regular courts where judges neither had expertise nor adept in dealing commercial matters resulting in inordinate delay in settlement. Therefore, these dedicated courts will be presided over by expert judges and work as Commercial Courts.

This move started rolling after Union Law Secretary Suresh Chandra advised the State Government to go a step forward with this legal facility for industry in ease of doing business in State.

Chandra said Prime Minister Narendra Modi desires to make India a favorite destination for foreign investment and doing business and the country hence needs to improve its ranking from 130 to be in the top 50 nations.

The World Bank Report has ranked India at 130th Position on the index of EDOB, last year and India is keen to improve its position, said Chandra.

Hence, he said, one of the steps in this regard was enactment of Commercial Courts, Commercial Division and Commercial Appellate Division of High Court Act -2015, which provides a mechanism to deal with the cases of commercial disputes exclusively.

As the Commercial Courts will deal with matters over Rs1 crore, the embargo created by the ‘Specified Value’ of the commercial disputes can be solved without making any amendments in the Commercial Courts Act-2015, he added.

Such a step will help improve ease of doing business in the State, said the Union Law Secretary.






Editorial

Précis 2017
From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.

National

* India successfully test-fires supersonic interceptor missile

International

* Support for terrorism to be stopped: India at UN

Business

* Dalmia DSP launches new TV campaign

Entertainment

* Sudhir Mishra's 'Daasdev' set to arrive on February 16

Interview

* “Nalco to invest Rs 35,000 cr in Odisha, good governance key to company’s success”

Leisure

* Tata Steel Bhubaneswar Literary Meet from Jan 11
Powered by Catalyst IT Solutions Pvt. Ltd.