New Delhi, Dec 2 (PTI) Over 10,000 disputes were settled, while more than 29,000 are pending with the commercial courts in Delhi, Mumbai, Kolkata and Bengaluru, the government informed Parliament on Thursday.

In a written reply to a question in the Rajya Sabha, Union Law Minister Kiren Rijiju also said no proposal is under the Centre's consideration to give some special powers to trade bodies such as chambers of commerce on settling commercial disputes.

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He noted that according to the Commercial Courts Act, a state government, in consultation with the respective high court, can constitute such number of commercial courts as it deems necessary.

In the cities of Mumbai, Delhi, Bengaluru and Kolkata, commercial courts at the district judge level have been constituted to adjudicate commercial disputes of Rs 3 lakh and above.

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To facilitate out-of-court settlement and ease the workload of the courts, the Commercial Courts Act provides a mandatory provision for Pre-Institution Mediation and Settlement (PIMS) -- an alternative dispute resolution mechanism -- in cases that do not contemplate urgent interim relief.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)