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Mangalore: Commercial Court Bill to be Presented in Winter Session of Parliament—Moily

  •   Wed, Sep 23 2009 11:09:27 PM

Mangalore: Commercial Court Bill to be Presented in Winter Session of Parliament—Moily
Pics: Dayanand Kukkaje 
Daijiworld Media Network—Mangalore (RS/CN)


Mangalore, Sep 23: Union Minister for Law and Justice Veerappa Moily said, “In order to settle the high value cases in the business sector, a new Commercial Court Bill will be presented during the winter session of Parliament which will help the business sector create a good environment”.  

He was speaking at a discussion organized by the Kanara Chamber of Commerce on Wednesday September 23.
 
“We have to wait for some years to present a bill or act, so that such acts are time-tested. The new bill will be helpful to the business sector and will settle cases like a fast track court”, he said.

“Cases valued at Rs 2 crore and above will come under high value cases. The court will be set up at the high court level and also in phases”, added Moily. 




























“We need to amend the existing Arbitration Act as several cases are pending over many years. In the business sector it has been a drawback in international relations. So, we have to open our doors to foreign investors,” he said.

“Infrastructure development is a must. There should be good roads first and then industry or commercial establishments can be set up. Infrastructure is important in the business sector. In some years, India will come out as the preferred destination due to its values and potentiality”, added the minister. 

Moily further said that a major portion of our potential has not been used yet by investors and so we have to open up our arms to using potential resources.

Referring to the memorandum submitted by the KCCI which suggested establishing food and agro technology parks, Moily said, “I will bring it to the notice of the concerned minister and try to setup one such park in Dakshina Kannada district”. 

He also inaugurated the website of KCCI. Srinivas S Kamath, president of KCCI, presided over the function. G G Mohandas Prabhu read out the memorandum submitted to the minister. 

All the office-bearers of the organization were also present.  The minister was felicitated by KCCI members.
  

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Comment on this article

  • PRAKASH NARASIMHA RAO, BEJAI MANGALORE

    Sun, Sep 27 2009

    Honble Moily ji, why cant a bill be passed saying that wherever the evidence produced is fool-proof, the order be passed immediately and no stay need be granted. For eg. illegal construction by the Builder in an apartment where the apartment owners have filed a writ petition and there is a stay on the single judge order by the High Court. Such cases if they are disposed off I think lot many cases may come down in the Courts.

    DisAgree Agree Reply Report Abuse

  • shilesh, Mangalore

    Thu, Sep 24 2009

    Ha ha please set up fast track courts for settling casses of RAPe & communal voilence not for buisness purposses

    DisAgree Agree Reply Report Abuse


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Title: Mangalore: Commercial Court Bill to be Presented in Winter Session of Parliament—Moily



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