To handle the cases related to business, the Supreme Court (SC) is preparing to set up commercial benches. A report quoted SC joint registrar Binod Sharma as saying that the benches would be set up following the approval of the full-court meeting.
Such benches would 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 Justice of Jumla Tarka Raj Bhatta and district judges Ananta Raj Dumre, Tek Narayan Kunwar, Narishwor Bhandari and Murari Babu Shrestha has been formed to proceed set up of the commercial benches.
However, it is still unclear whether such courts will be equivalent to district courts or appellate courts.
The report quoted Judge Tek Narayan Kunwar as saying that they have recommended that a short procedure should be adopted to decide commercial disputes.
According to the Secured Transition Act 2007, Insolvency Act 2007 and Company Act 2007, commercial benches are required to decide commercial cases.
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