Friday, March 16, 2007

SC to set up commercial benches: Report

The Supreme Court (SC) is mulling to set up commercial benches to look after business related issues.
The Himalayan Times daily quoted joint registrar of the SC Binod Sharma as saying, "We have been making preparations to set up such benches to look after business related issues after rise in business related cases."
According to him, the issue will be discussed during the hearing in a full-court meeting of justices soon, adding, "The benches will be set up following the approval of the full-court meeting."
However, it is still unclear whether such courts will be equivalent to district courts or appellate courts. While some Acts consider commercial benches equal to district courts, other Acts hold that they are equal to an appellate court.
The benches will look into cases related to company disputes, secured transitions, contracts and banking, negotiable instruments, arbitration, intellectual property rights, finance, foreign investment, insurance, securities, partnership, construction and transportation.
A working group comprising Chief Judge of Jumla Tarka Raj Bhatta and district judges Ananta Raj Dumre, Tek Narayan Kunwar, Narishwor Bhandari and Murari Babu Shrestha has been formed to study the matter and submit recommendation.
"We have recommended that a short procedure should be adopted to decide commercial disputes as such cases need to be decided soon," said judge Kunwar.

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