The government has moved to reform the legal framework governing commercial dispute resolution, inviting stakeholders to submit written recommendations within 10 days as it prepares to finalize a revised draft law for parliamentary consideration in January.
Draft revision process
According to a report published by Business Standard on Saturday, the law minister has sought input from relevant parties to update the Commercial Courts Act. All stakeholders have been directed to submit their written suggestions within the stipulated 10-day window.Sources at the Law Ministry indicate that the existing law has faced criticism over prolonged delays in resolving commercial disputes. The proposed draft is expected to address case disposal timelines, strengthen alternative dispute resolution (ADR) mechanisms, and potentially establish specialized commercial courts.
Parliamentary timeline
The draft law is being prepared for tabling in the January session of parliament. The Law Ministry will review all stakeholder submissions before finalizing the draft. Business communities and legal professionals have long demanded reforms to expedite commercial litigation.Analysts say an efficient and fast-track commercial court system is essential for expanding trade and attracting foreign investment. The new law is expected to incorporate measures to achieve these objectives.
