Madu Mithra S, Sastra Deemed University
ABSTRACT
Streamlining the settlement of business disputes, creating a business-friendly atmosphere, and improving the general effectiveness of the Indian legal system are the goals of the historic Commercial Courts Act. This article offers a thorough analysis of the Commercial Courts Act, exploring its main goals, provisions, and effects on dispute settlement procedures.
Introduction:
This article sheds light on the importance, reach, and ramifications of the notion of condonation of delay for parties engaged in business disputes in India by critically analyzing it within the context of the business Courts Act. The Commercial Courts Act, which was passed to simplify and speed up the resolution of commercial issues, introduces rules regarding the deadlines for the initiation of legal procedures. To help parties overcome delays and follow the specified timetables, this article focuses on the option for condonation of delay.
The research starts by explaining the Commercial Courts Act's overarching goals and the reasoning behind its focus on deadline-driven conflict resolution. The text then explores the nuances of the provision for the condonation of delays, including the conditions that must be met for delays to be forgiven and the standards that the courts consider.
This essay offers practitioners, academics, and stakeholders important insights into the potential and challenges posed by this provision, fostering a more nuanced understanding of the condonation of delay within the framework of the Commercial Courts Act. In the modern commercial dispute resolution process, timeliness and efficiency are still crucial, therefore understanding the intricacies of the excuse of delay mechanism is essential to navigating the legal minefield.
