Enforcing Contracts Portal
What is in the news?
- The Department of Justice under the Ministry of Law and Justice has launched the “Enforcing Contracts Portal”.
Background
- The Doing Business Report of World Bank Group benchmarks business regulations across 191 economies of the world.
- Within this, the Ease of Doing Business (EoDB) index is a ranking system which is an indication of an economy’s position relative to that of other economies across 11 areas of business regulation namely
- Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting Minority Investors, Paying Taxes, Trading across Borders, Enforcing Contracts, and Resolving Insolvency.
- The “Enforcing Contracts” indicator is one such essential area that measures time and cost to resolve a standardized commercial dispute as well as a series of good practices in the judiciary.
- Currently, only the cities of Delhi and Mumbai are under the purview of the Ease of Doing Business survey by World Bank.
- Kolkata and Bengaluru are likely to be included in the Doing Business Reporting future.
- Department of Justice, Ministry of Law and Justice, as the nodal department has been monitoring an array of legislative and policy reforms to strengthen the “Enforcing Contracts” regime for Ease of Doing Business in India in coordination with e-Committee, Supreme Court of India and the High Courts of Delhi, Bombay, Calcutta and Karnataka.
About the portal
- The portal aims to promote ease of doing business and improve the ‘Contract Enforcement Regime’ in the country.
Features of the portal
- The portal is envisioned to be a comprehensive source of information pertaining to the legislative and policy reforms being undertaken on the “Enforcing Contracts” parameters.
- It includes the latest data related to the functioning and disposal of commercial cases in the Dedicated Commercial Court Of Delhi, Mumbai, Bengaluru and Kolkata. These Dedicated Commercial Courts have been established for speedy resolution of commercial disputes and boast of dedicated infrastructure and exclusive judicial human power.
- The new portal also hosts online reporting by all High Courts regarding the Mediation and Arbitration centres annexed to the Commercial Courts.
Need for the Portal
- In Enforcing Contracts indicator, India achieved 163rd position in the Doing Business Report 2020, an improvement of 23 positions from the 186th rank in the Doing Business Report 2015.
- However, to ensure that India’s ranking in this indicator comes within TOP 50 this portal was launched.
Reference:
- https://doj.gov.in/eodb/
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