The Lok Sabha on Wednesday passed the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018.
It will designate some courts as commercial courts for speedy disposal of commercial disputes and will reduce the pecuniary jurisdiction of these courts from Rs. 1 crore to Rs. 3 lakh.
Minister of Law and Justice Ravi Shankar Prasad said this was aimed at improving the ease of doing business in India.