Section 3 in Jammu and Kashmir Protection of Interests of Depositors (In Financial Establishments) Act, 2018
3. Constitution of Commercial Courts.
(1)The Government, may after consultation with the High Court, by notification, constitute or designate such number of Commercial Courts at District or Divisional level, as it may deem necessary for the purpose of exercising the jurisdiction and powers conferred on those Courts under this Act.(2)Notwithstanding anything contained in this Act, the Government may, after consultation with the High Court, by notification, specify such pecuniary value of the jurisdiction of a Commercial Court, which shall not be less than three lakh rupees or such higher value, for whole or part of the State, as it may consider necessary.(3)The Government shall, after consultation, with the High Court specify, by notification, the local limits of the area to which the jurisdiction of a Commercial Court shall extend and may, from time to time, increase, reduce or alter such limits.(4)The Government may, with the concurrence of the Chief Justice of the High Court appoint one or more persons having experience in dealing with commercial disputes to be the Judge or Judges, of a Commercial Court either at the level of District Judge or a court below the level of a District Judge.
