Court Castigates Plaintiff For Whimsically Undervaluing Commercial Suit

Introduction:

On 31.12.2015, the Commercial Courts Act, 2015 (CCA, hereinafter) came into being. The Act, very clearly and evidently, shed light on the intentions of the Legislature. Section 15 of CCA, laid down that this act will have an overriding effect and prior jurisdiction over Civil Courts except in cases where the judgement has already been reserved. CCA provides for speedy disposal of commercial matters and also defines terms like, 'specified value', ' commercial dispute' etc. Under CCA, ascertainment of specified value became mandatory and crucial.

Section 2 of the CCA clearly defines Commercial Courts and Commercial Disputes and upon reading Section 6 of the CCA, it is clear that, it is the Commercial Court ONLY which shall have jurisdiction to try all suits and applications relating to a "commercial dispute" of a "Specified Value" arising out of the entire territory of the State over which it has been vested territorial jurisdiction.