The Union Cabinet, chaired by Prime Minister Narendra Modi, cleared two ordinances to fuel the ease of doing business in India as below :
a ) to amend the Arbitration and Conciliation Act,1996
and
b) to bring into force the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015 which is pending before a Parliamentary standing committee
The first amendment will result in settlement of a case , under an arbitration , within 18 months.It also fixes a cap on teh fees of arbitrators .
The arbitrators will be bound to spell out if there is a conflict of interest in a case he or she is taking up.
The later amendemnt is considered to be very significant since it wil result in increasing the Pecuniary jurisdiction of civil courts to entertain a suit from the existing Rs 20 lakh to Rs 2 crore . This will result shifting of over 12,000 cases to the lower courts .
It is pertinent to note that The Delhi High Court (Amendment) Act, 2015, has received the approval of the President but is yet to be brought into force.
But , implementation of these amendments and enactments will result in reduction of time to dispose a case for sure .
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