Union Minister for Law M Veerappa Moily said the Commercial Court Bill would soon become a Law, paving the way for speedy disposal of cases through arbitration.

Participating in a conference on Amendment to Arbitration and Conciliation Act 1996 he said the Lok Sabha had passed the Bill. It had to be passed by the Rajya Sabha now.

He said the amendment of the Arbitration and Conciliation Act would remove the distractions and make the legislation more vibrant.

‘Our intention is to increase the speed of disposal of cases through arbitration,’ he explained.

Mr Moily said, ‘If our arbitration is strengthened, we can attract international arbitration cases as we have an exemplary judiciary.’ The commercial courts to be set up after the Bill was passed, would deal only with commercial cases. Civil cases would not be entertained, he added.

Karnataka Governor H R Bhardwaj who delivered the Presidential address said the delay in rendering justice in time stalled progress of the country.

‘Our attempt to make progress has been stalled due to delay in disposing the cases, be it arbitration or others.

UNI