Short Notes

 Short Notes 

Let us note that Commercial Courts Act, 2015 is important. It contains only 23 sections. However, it is deemed to have come into force on 23 October 2015. What is a commercial court is defined in S.2(b) of the CC Act, 2015 and S.3 is referred to define a commercial court. We need to keep in mind that technology development agreement related disputes are covered within definition of commercial dispute of CC Act, 2015. It is further to be noted that concept of "specified value" is very important under CC Act, 2015 for which reference can be made to S.2 (i) of CC Act, 2015. S. 2(i) says the determination of specified value has to be done as per S.12 of CC Act, 2015. One cannot forget that S.3 of CC Act, 2015 requires concurrence of Chief Justice of HC. 

Law Points

Section 13 of CC Act, 2015 deals with appeals. Under S. 13 (1) of the Act, appeal can be filed before Commercial Appellate Court ; the time limit prescribed is 60 days. However, the appeal under S.13 (1A) is to be filed before Commercial Appellate Division of High Court within 60 days. What S.14 of CC Act, 2015 shows is that time limit is important ; S.14 says that appeals are to be disposed of within 6 months from the date of filing of the appeal. 

How transfers occur can be noted in S.15 of CC Act, 2015. S.15 not only applies on the suits but also applications. Arbitration and Conciliation Act, 1996 is not out of the purview of the S.15 of CC Act, 2015. Section 26 and Section 35A of Code of Civil Procedure, 1908 stand amended by Commercial Courts Act, 2015.