The Supreme Court has given its assent for establishing commercial benches in four major commercial hubs in the country which would work as centers to settle disputes related to business and finance.

The full-court meeting held Wednesday took decision to this effect.

Four major towns Biratnagar, Patan, Butwal and Nepalgunj will have such centers at the first phase. Hetauda and Pokhara are also on the proposed list. The benches will have authorities equal to those exercised by the appellate courts. Each bench will have two judges initially appointed by Chief Justice.

The four benches will hear the cases pertaining to Company Act 2007, Secured Transaction Act 2007, Insolvency Act 2007 and Competition Promotion and Market Protection Act 2007. nepalnews.com ia Dec 04 08