Settlements and Mediation Before Court Proceedings Under the Commercial Courts Act
Introduction A commercial dispute arises when businesses disagree over transactions, often involving high risks and requiring court involvement . However, resolving such disputes through settlements and mediation, under the guidance of a high court lawyer , is a more cost-effective and efficient solution. This document outlines the procedures, categories, and potential outcomes of settlements and mediation under the Commercial Courts Act, 2015. Categories of Commercial Disputes Commercial disputes can be classified into the following categories, encompassing both domestic and international transactions, involving individuals or institutions: Partnership Disputes Contractual Agreements Employee-Employer Disputes Customer Disputes Shareholder Disputes Note: Disputes involving a monetary value exceeding INR 3,00,000 (Rupees Three Lakhs Only) are adjudicated by Commercial Courts. Definition of a Commercial Dispute As defined under Section 2(C) of the Commercial Courts Act, 201...