Latest news with #CommercialCourtsAct
Time of India
10-05-2025
- Time of India
86,542 cases settled in National Lok Adalat
Pune: A total of 86,542 cases were settled, and compensation of Rs183.5 crore was awarded to the litigants in the National Lok Adalat organised at the district and sessions courts on Saturday. The district legal services authority (DLSA), Pune, placed 2.20 lakh compoundable cases for settlement before 123 panels in the Lok Adalat, of which 86,542 cases were successfully settled between the disputed parties. The cases settled include bank recovery, criminal, electricity bills, labour disputes, land acquisition, motor accident claims, matrimonial disputes, cheque bounce, revenue, service matters, water bills, and consumer disputes. DLSA secretary Sonal Patil said the Lok Adalat, organised under the guidance of principal district and sessions judge Mahendra Mahajan, successfully resolved 86,542 cases, underscoring the efficacy of alternative dispute resolution in making justice accessible to all. Patil said this achievement reflects not only the unwavering commitment of their team but also the collaborative spirit of the judiciary, legal professionals, and the public. "The purpose of Lok Adalat is to take justice to the homes of people. We remain steadfast in our mission to ensure that justice is not a distant ideal but a tangible reality for every citizen," she said. The Lok Adalat, for the first time, settled a commercial dispute case of Rs3 crore filed by Atlas Chemicals against ABC Inc under the Commercial Courts Act, 2018. It helped in securing the release of 10 undertrial prisoners lodged in Yerawada Central Prison in six theft cases. The Lok Adalat reunited a couple in a matrimonial dispute case after referring them to a series of counselling sessions.
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Business Standard
09-05-2025
- Automotive
- Business Standard
Delhi HC orders seizure of another 129 EVs tied to Gensol and BluSmart loan
The Delhi High Court on Thursday ordered the seizure and relocation of 129 electric vehicles (EVs) hypothecated by Gensol Engineering and ride-hailing startup BluSmart to lender STCI Finance. Hypothecation refers to using an asset, like a car or stock, as collateral for a loan without transferring ownership or possession to the lender. STCI alleged Gensol and BluSmart had defaulted on a ₹15 crore loan and were seeking to unlawfully dispose of the vehicles. The application, filed by STCI, under Section 12A of the Commercial Courts Act, 2015, sought exemption from instituting preinstitution mediation. Justice Manmeet Pritam Singh Arora, in her order dated May 8, barred Gensol and BluSmart from creating any third-party rights over the vehicles. Citing an urgent risk of asset dissipation, the court-appointed receivers took custody of the vehicles and authorised them to arrange for their maintenance and charging. 'Further the balance of convenience also lies in favour of the plaintiff (STCI) considering that the plaintiff may suffer loss if the possession of the vehicles is not secured and the defendant no.1(Gensol) goes on to dispose of the said vehicles in favour of third parties,' the order said. Gensol had obtained a ₹15 crore equipment term loan from STCI under a loan facility agreement on October 19, 2023 to acquire the 129 vehicles. The loan was secured through a hypothecation deed and personal guarantees from promoter brothers Puneet and Anmol Singh Jaggi. This is the fifth such petition in under two weeks seeking to restrain Gensol and BluSmart from creating third-party rights over its EVs. As of now, the court has restricted them from creating third-party rights over 619 EVs.
Mint
29-04-2025
- Business
- Mint
India's bid to be arbitration hub hit by mediator council delay
NEW DELHI : The search for candidates to fill up the Mediation Council of India (MCI) is still ongoing, said attorney general R. Venkataramani on Tuesday, in a sign the creation of the body that will govern and regulate mediators and mediation institutions will get further delayed. The MCI was created under the 2023 Mediation Act, with powers to decide best practices for mediators, as well as handle the duty of registering mediators. At a media briefing in Delhi, Venkataramani said that during consultations with the Union law minister regarding the personnel to occupy the MCI, he had rejected a few shortlisted candidates. The delays in setting up the MCI may have an impact on the overall speed of dispute resolution in the country, hurting India's aim to become a hub for out-of-court dispute resolution mechanisms such as arbitration and mediation. Foreign investors also use the quality of dispute resolution within a jurisdiction to ascertain the ease of doing business there. A key function of the MCI is to decide the rules and procedure of mediation in India, and give mediators the authority to conduct such dispute resolution procedures. In mediation, a third party engages with the disputants to bring them to a consensus – often a compromise for both sides. But, the agreement that both parties come to is not legally binding, unlike the decision arising out of arbitration which can be enforced and executed by a court. To be sure, certain aspects of the MCI such as salaries have been notified by the government, but the MCI has not been created yet. Developing standards, rules, and procedures for mediation assumes importance as it is a crucial procedure for resolving commercial disputes. Under section 12A of the Commercial Courts Act, 2015, mediating a commercial dispute is mandatory before approaching a Commercial Court. The only roundabout to skipping the mandatory mediation is to seek 'urgent interim relief' from the court. Urgent interim relief refers to when a court stays further action against a disputed asset till it reaches a verdict. But in a draft amendment to the Act published for public consultation on 8 November last year, the Union law and justice ministry removed the 'urgent interim relief' provision, making mediation completely mandatory in commercial disputes. Commercial disputes are an umbrella term for disputes related to transactions between merchants and traders, import-export, carriage of goods, construction contracts and tenders, franchising and distribution agreements, intellectual property, and insurance, among others. The government has also indicated a preference for mediation over arbitration. That is due to high costs and long-winding timelines in arbitration, which have not benefited the government, the biggest disputant in the country. On 3 June 2024, the Union finance ministry published an office memorandum to all government entities in the country asking them to reduce their exposure to arbitration matters in public procurement contracts where the disputed value is over ₹ 10 crore. Also Read: India open to revising EV manufacturing policy for foreign automakers post US tariff clarity This created a public outcry from practitioners, who claimed that this move would be contrary to the plan of making India an arbitration hub. Mediation is a cheaper and faster alternative to arbitration, the finance ministry advisory said.
