The Bill, moved by Law Minister DV Sadananda Gowda, seeks to replace the ordinance. The proposed law comes amid keenness of the government to attract the greater foreign investment. Certain foreign companies were said to be hesitant to do business in India
because of the long-drawn litigations.
     
The Prime Minister has been stressing on steps to promote ease of doing business in India. From October 23, the day the ordinance on the bill came into force, all pending suits and applications relating to commercial disputes involving a claim of Rs one crore and above in the high courts and civil courts stood transferred to the relevant Commercial Division or Commercial Courts as the case may be.
     
Commercial Divisions are to be set up in those High Courts, such as those in Delhi, Bombay, Calcutta, Madras and Himachal Pradesh, which are already exercising ordinary original civil jurisdiction.

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