15.(1) All suits and applications, including applications
under the Arbitration and Conciliation Act, 1996, relating to a commercial
dispute of Specified Value pending in a High Court where a Commercial Division
has been constituted, shall be transferred to the Commercial Division.
(2) All suits and applications, including applications under
the Arbitration and Conciliation Act, 1996, relating to a commercial dispute of
Specified Value pending in any civil Court in any district or area in respect
of which a Commercial Court has been constituted, shall be transferred to such
Commercial Court: Provided that no suit or application where the final judgment
has been reserved by the Court prior to the constitution of the Commercial
Division or the Commercial Court shall be transferred either under sub-Section
(1) of sub-Section (2).
(3) Where any suit or application, including an application
under the Arbitration and Conciliation Act, 1996, relating to a commercial
dispute of Specified Value shall stand transferred to the Commercial Division
or Commercial Court under sub Section (1) or sub-Section (2), the provisions of
this Ordinance shall apply to those procedures that were not complete at the
time of transfer.
(4) The Commercial
Division or Commercial Court, as the case may be, may hold case management
hearings in respect of such transferred suit or application in order to
prescribe new timelines or issue such further directions as may be necessary
for a speedy and efficacious disposal of such suit or application in accordance
with Order XIV-A of the Code of Civil Procedure, 1908: Provided that the
proviso to sub-rule (1) of Rule 1 of Order V of the Code of Civil Procedure,
1908 shall not apply to such transferred suit or application and the court may,
in its discretion, prescribe a new time period within which the written
statement must be filed.
