Friday, May 25, 2007

SC nod on business benches

Commercial benches will be set up in six appellate courts, the Supreme Court said on thrusday .A full-court meeting of Supreme Court judges, which was held thrusday decided to set up commercial benches in Patan, Biratnagar, Birgunj, Hetauda, Pokhara and Nepalgunj appellate courts, registrar of the Supreme Court, Dr Ram Krishna Timalsena, said.The commercial benches will look cases related to company disputes, secured transactions,contracts and banking, negotiable instruments, arbitration, intellectual property rights, finance, foreign investment, insurance, securities, partnership, construction and transportation.The commercial benches will be formed in accordance with Secured Transition Act 2007, Insolvency Act 2007 and Company Act 2007.

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