Business Law in India is complex in nature so there are various amendments to it from time to time. Being such an important aspect of any organization, it also requires constant guidance. We as an advisory firm provide a comprehensive advice on matters related to Commercial Law. It applies to the rights, relations and conduct of persons. It governs the sales of following things.

1. Goods and Services
2. Negotiable instruments
3. Security interests
4. Leases
5. Principal and agent relationships
6. Carriage by land and sea
7. Merchant shipping
8. Guarantee
9. Non-Life and accident insurance
10. Bills of exchange
11. Partnership
12. Regulatory for corporate contracts
13. Regulatory for hiring practices
14. Manufacturing and sales of consumer goods.

We offer a wide spectrum of solutions related to corporate, legal and taxation issues. Owing to the exhaustive experience of our ever expanding team of associates, we are providing world class services. Our team consists of CA, Cs and lawyers. With such a diverse team we are able to assist our clients in the most critical and complex matters related to Commercial Law. Also, our clients are both from India and abroad.

Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange and partnership. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes that contain comprehensive statements of their commercial law.

Legal procedure for commercial law matters

APPEALS

Appeals from the decision of the Commercial Court or Commercial Division of a High Court are to lie before the Commercial Appellate Division of the concerned High Court, within a period of sixty days from the date of the judgment or order as the case may be. The Act also mandates that Commercial Appellate Division shall endeavour to dispose of such an appeal within a period of six months from the date of filing of such Appeal.

Interestingly, the Commercial Courts have been made equivalent to the Commercial Division of a High Court as an appeal from the order of such Commercial Court is directed to Commercial Appellate Division of the concerned High Court.

BAR ON REVISION APPLICATIONS

The Act puts a bar on civil revision application or petition against an interlocutory order of a Commercial Court and the same is to be raised only in an appeal against the decree of the Commercial Court. However there is certain ambiguity in respect of the same.

The Act for some reason lays bar on civil revision application or petition against an interlocutory order of the Commercial Court only and not the interlocutory order of the Commercial Division.

AMENDMENTS TO CPC

In order to streamline the procedure of trial to be followed by the Courts in respect to a Commercial Dispute and expedite the proceedings, the Civil Procedure Code, 1908 (“CPC”), that is to be applicable to the Commercial Disputes is also be amended to the extent as specified in the schedule of the Act. Some of the important amendments are highlighted herein below:-

Strict timelines for filing written statement and forfeiture of right to file written statement after completion of one twenty days of the service of summons is prescribed. Furthermore, denials in the written statement are to be made in the prescribed manner, which includes particulars of the allegation that Defendant denies but requires the Plaintiff to prove and the ones that he admits. The Defendant is also to state reasons for denying any fact and put forward his version of event.

Any party can apply for summary judgment, in respect to a claim (or part thereof) which can be decided without recording oral evidence, at any time before the issues are framed.

Timely procedure for disclosures, discovery and inspection of documents are prescribed.

Statement of admission and denial of all documents is to be completed within fifteen days from completion of inspections or any later date as fixed by Court.

Provisions of imposing cost for frivolous suits and counter claims are provided.

Concept of case management hearing, which includes framing of issues, fixing of procedure and timelines are to be followed in a suit (including setting timeline for parties/advocate to address written and oral arguments). Closure of arguments not later than six months from the date of first case management hearing are prescribed.

Recording of evidence (including conducting cross-examination) on day to day basis.

Affidavit of evidence of all witnesses to be led by parties is now required to be filed simultaneously.

Filing of written arguments by parties is made compulsory.

Pronouncement of judgment is to be completed within ninety days of conclusion of arguments.

The Act also clarifies that in case of conflict with any of the provisions of CPC, as amended by this Act, with any provisions of any rule of jurisdictional High Court or any state amendment to the CPC, the provisions of CPC, as amended by this Act, is to prevail.